hello everyone! We can see that banks are in drawdown since they sold before buying.
This means they need to mitigate their positions moving the price at least
to 50% of the last bearish candle before the reversal. I will only enter the trade long if this happens
Here we see a possible cup and handle continuation on grounds that the 0.5 fibonacci retracement level holds as an entry point within the ABC channel correction and the cups support. Target will be 1.0.
However, if the 0.5 fibo level is pierced as a confirmed breakout we can presume a double top from the two peaks at the 1.0 level with the target being 0.00....
in the coming days the market will probably focus on Draghi and his possible PM position in Italy.
Theoretically, it has a chance to be positively received by the market (at least in the short term).
The single currency vs the Australian has a chance to return towards 1.60 and above.
Long on pullback to the region of 1.5650
Stop below 1.5575
As seen on the chart we anticipate a downside move to retest the 1.08550 - 1.08650 levels. We can expect further downside move as the council still remains dovish. Furthermore, Mario Draghi says Fiscal policy has to be the main policy tool. An increase on the monetary stimulus program is also concerning. Not to forget to mention the additional easing measures are...
Concluding a year that saw the central bank take down its benchmark rate three times, the Federal Open Market Committee on Wednesday met widely held expectations and kept the funds' rate at the same level. The Fed is completely satisfied with the current state of things. As a result, markets do not expect any changes in the monetary policy until the end of 2020....
Hello guys, here is a good setup on EURJPY.
This pair is ranging from the 17 October when we had that big spike to the upside, around the 121.300 region. We had multiple rejections (wicks, engulfing candles) on that zone, with the last week closing really strong to the downside. So it's three weeks that we are inside this range, can we break that support...
In today's #marketinsights video recording I analyse #GBPUSD and #EURUSD #FXMajors!
GBPUSD Dragged down by:
- BoJo push for an early election on December 12
- Increasing likelihood of October exit failure
EURUSD Under Pressure as:
- ECB reiterates downside risk, stubbornly low inflation
- Draghi hints to fiscal policy measures
The main event will be the announcement of the ECB decision on the monetary policy parameters in the Eurozone. Given the general tendency toward easing monetary policy in the world and the recent actions of the Central Bank of Europe, euro can be expected a pretty unpleasant surprise, In theory. But in practice, most likely everything will be ok.
Mario Draghi is...
We already know Brexit deal has somehow affected EURUSD upward bullish momentum which was good enough earlier days before the vote in the UK but not it's not the same as it was in back days. Talking about volatility EURUSD has an average of just 9.4 pip per hour comparing to GBPUSD it has around 26.6pips within an hour which is quite a great amount of volatility...
In today's #marketinsights video recording I analyse #GBPJPY and #EURGBP #FXMinors!
GBPJPY Supported by:
- Increasing expectations EC will grant January extension
- BoJo win in case of early election
- Weak safe-haven flows
- Japan manufacturing to 3yr low
EURGBP Under Pressure as:
- Investors eye ECB and last Draghi meeting
- Disappointing Business Climate...
EURCAD Still below very important mirror and key level @ 1.4720
volume profile show that pair tried many times to break 1.4670 but could't
H4 chart show fake breakout at level 1.4660 with MACD divergence (Bearish signal )
EURAUD in running in major down trend , retracement up trend already broken
Important key level broken @ 1.6260
volume profile show HVN at the same level , which is very strong area
MACD show sell signal
EURNZD was inside triangle for long time as a congestion pattern
Bullish Breakout happened then retest for broken down trend line
now EURNZD breakout key level @ 1.7554
the pair should contine in the same bullish direction before consolidate in triangle
EURUSD is playing around in descending channel, either bull break out to go 1.10600.
On the negative side, If it doesn’t break out, Bear will take over and plummet to 1.109630 where support line is.
There’s EUR news from low to high impact today which will likely to effect the market.
Today the ECB Meeting takes place. At 13:45 the Interest Rates will be announced here a cut is expected and already priced into the markets. At 14:30 it should get really interesting here Draghi will hold his last important speech at the ECB, it is expected that this speech will be very dovish kind of a farewell present from Draghi and we have seen that the...