Currently we are in the earning reports session, generally strong Dollar as Powell testify during last Fed conference.
Purely technical analysis, falling below last friday's low will serve as a good indication of further bearishness in Euro.
Since we are slightly late to jump into Shorts right now, will just setup pending shorts to ride on breakout play.
Purely technical analysis, falling below last friday's low will serve as a good indication of further bearishness in Euro.
Since we are slightly late to jump into Shorts right now, will just setup pending shorts to ride on breakout play.
Comment:
Tonight's closing for Eurusd will be very important
Comment:
As proven yesterday price fail to break trend line. The gain in Euro is largely one sided effect from weakening of Dollar affected by the recent Trump's tweet.
Comment:
EURUSD is likely to be flat and stale during Asia trading session today despite Trump-EU positive trade talk as highlights of the day remain on ECB conference. Previously Draghi hint of clear exit strategy to kickoff in second half of 2019, however if in an event that he express for earlier hike or being hawkish that will favor Euro. (my personal view unlikely but do expect strong volatility)
Technical aspect: EURUSD can be challenged to view as forming of symmetrical triangle or flat ranging currently; bear flag over a longer time frame. I am expecting volatility to hit up to 1.18 - 1.1853 before dropping down. A bearish close for the day will be best outcome.
Depending on how today's closing turn out, it may pose opportunity for positioning short trades.
`Trade safe, manage your risk
Technical aspect: EURUSD can be challenged to view as forming of symmetrical triangle or flat ranging currently; bear flag over a longer time frame. I am expecting volatility to hit up to 1.18 - 1.1853 before dropping down. A bearish close for the day will be best outcome.
Depending on how today's closing turn out, it may pose opportunity for positioning short trades.
`Trade safe, manage your risk
Comment:
Technical: Good to add some position with low risk in today's session.
Comment:
Tonight's data release is likely to be the determinant factor if support will hold, large downside from technical aspect.
Fundamentally, EU is not in a very good state of health; largely carried by Germany.
Fundamentally, EU is not in a very good state of health; largely carried by Germany.
Comment:
The fall of EUR is largely dragged by recent crash of Turkish Lira since European banks are heavily exposed to Turkey bonds.
In order to revive Turkey's economy again, most probably IMF will have to step in for bail out program but of course under tight conditions. ECB's next conference speech will highlight the damage from Turkey fallout and implication effect on Europe.
Some thoughts run through my mind while researching :)
Below are from Wiki:
-Turkey has the second largest standing military force in NATO, after the US Armed Forces, with an estimated strength of 495,000 deployable forces, according to a 2011 NATO estimate. A total of 90 B61 nuclear bombs are hosted at the Incirlik Air Base, 40 of which are allocated for use by the Turkish Air Force in case of a nuclear conflict, but their use requires the approval of NATO.
Turkey Foreign Minister:
-“If the United States imposes sanctions on us or takes such a step, Turkey will absolutely retaliate,” Cavusoglu said. “What needs to be done is the U.S. needs to let go of this.”
-The Article 5 says that an attack on any member shall be considered to be an attack on all.
Therefore by leaving NATO, Turkey can utilize their military power without restriction however attacking U.S will invoke Article 5.
Althought I strongly agree with Sun Tzu 's saying "Do not press a desperate foe too hard". It is very unpredictable if violence will not breakout.
In order to revive Turkey's economy again, most probably IMF will have to step in for bail out program but of course under tight conditions. ECB's next conference speech will highlight the damage from Turkey fallout and implication effect on Europe.
Some thoughts run through my mind while researching :)
Below are from Wiki:
-Turkey has the second largest standing military force in NATO, after the US Armed Forces, with an estimated strength of 495,000 deployable forces, according to a 2011 NATO estimate. A total of 90 B61 nuclear bombs are hosted at the Incirlik Air Base, 40 of which are allocated for use by the Turkish Air Force in case of a nuclear conflict, but their use requires the approval of NATO.
Turkey Foreign Minister:
-“If the United States imposes sanctions on us or takes such a step, Turkey will absolutely retaliate,” Cavusoglu said. “What needs to be done is the U.S. needs to let go of this.”
-The Article 5 says that an attack on any member shall be considered to be an attack on all.
Therefore by leaving NATO, Turkey can utilize their military power without restriction however attacking U.S will invoke Article 5.
Althought I strongly agree with Sun Tzu 's saying "Do not press a desperate foe too hard". It is very unpredictable if violence will not breakout.
Comment:
President Recep Tayyip Erdogan lashed out at the U.S., took higher rates off the table and said he wouldn’t accept an international bailout.