EURJPY has formed a nice reverse / inverse head and shoulders.
Neckline is clear at 131.93
Bullish engulfing candle has just formed.
Conservative take profit at 134.51
I am not particularly keen on being net long across Pound positions, but EURGBP has formed a lovely break and re-test.
There is a clear selling zone which i am using as protection for my stop.
Continued lower highs forming on the 4hour chart suggest a push lower.
EURUSD has a clear resistance line which cuts through 1.17
The pair is still forming lower highs on the 4 hour chart.
Further tariff commentary has sparked Euro buyers to seek refuse in the single block currency.
Once we have broken the 30 minute support line (lighter blue line), I will consider layer more shorts in.
There is a triple bottom support line at 1.1532
Quick Recap on my yesterday's trade and price action up until now
Yesterday my intraday bias was EURUSD = Up. Reason? :
1. Price last week have hit Weekly and Monthly Range
2. Price is trading below this levels hence its on price levels that I like to call "a hot zone". Its not a certainty but it has high probability the price would reverse/retrace/move ...
We are kicking of our first idea on Tradingview...
=> Here we are tracking the upside in Euro via odds of a 2019 interest rate hike increasing.
=> We have a wide 1000 tick range in play (1.16 - 1.26) with ECB offering support at the 1.16 handle.
=> Ceteris Paribus there is little to see to the downside here with EZ inflation prints this week likely to confirm ...
It seems that ECB is using the Anglo-Saxon version of rate hike projections stating that rates will be stationary through summer of 2019. Doubtful Draghi will spin this hawkishly
.382 Harmonic retrace reversal
Daily Calandar
https://pbs.twimg.com/media/DjBwMqEUYAArj2t.jpg
#NAFTA #EURUSD #Iran #WTO #ECB #Draghi #EURUSD #Economics #TradeWars #OOTT #Brexit ...
Combining multiple chart patterns will help traders top identify high-quality trades.
EURUSD has been trading sideways for the last 2 months and eventually formed a symmetrical triangle.
We can see that the symmetrical triangle is coming close to an end thus a breakout is bound to happen sooner or later.
Just as price reaches the top of the symmetrical triangle ...
Observing the monthly charts closely (The image below) 4 crucial support and resistance levels can be identified and at the moment the price is rangebound between 0.90300 and 0.86600 Levels.
https://www.tradingview.com/x/y3GTQgjf/
Looking Deeper into the Weekly chart (The image below), The price is rangebound and seems to be to respecting the 0.89400 well. This ...
Any surprises at the ECB policy meeting and press conference in Frankfurt on 7-26-18 could send EUR/USD rocketing in one direction or another. Also of intense interest is what the dollar is doing obviously, it is still range bound as shown in the attached idea.
Market Structure on weekly timeframe seem pretty interesting. A lot of of wicks form on previous 4-5 weekly candle but hardly break 1.1800
This week as also last week of July 2018, anticipate a quick spike to get a better price on 1.1800 zone to short again.
Patient waiting for this trade to activate 1-2 days later.
Watch list:
1. DXY daily support zone
2. ECB ...
Shorting EUR/USD against the bottom of the ichimoku cloud does seem like a good risk/reward trade based on the charts - extracted from this wk's CIO's Week Ahead Update
The Euro has a very bullish chart here, with confirmation from multiple timeframes aiming higher. I'm currently holding longs in profit, but looking to add if viable.
See details on chart.
Best of luck,
Ivan Labrie.
Our pair continues the downward movement after the statements by Fed and the ECB. The dollar is strengthened against the basket of major currencies, while the euro goes down.
On the graph we observe that the price was trying to overcome the resistance level of 1.1630 and move upward, but went away from this level.
We expect the price to go to the 1.1530 mark and, ...
EUR/JPY 0.11% i am starting to enter short positions after yesterdays engulfing daily closure of last 8 days action.
See from image that the trend lines are indicating bearish momentum.
After ECB Dovish meeting yesterday we are looking at heading towards the 124.00 mark.
JXY -0.25% is also due a bounce higher off its daily bullish channel .
I will update ...
Buy the rumour, sell the fact. The ECB signalled an end to QE but the conditionality attached, plus the explicit timing-related forward guidance for future rate moves was interpreted dovishly by the market and sent the euro tumbling. That is obviously in contrast to the Fed, which seems to be growing more confident in the outlook for growth and inflation.
Our ...
Regarding today's bond market behavior, I am reminded of the following words of wisdom mostly attributed to the economist John Maynard Keynes:
"The market can remain irrational longer than you can remain solvent."
From Trump's successful efforts in negotiating an end to a 70 year North/South Korean war, and denuclearization of NoKo, to the Fed raising interest ...
EurAud would be our vehicle of choice on a hawkish ECB meeting today.
Aussie is suffering from worse domestic data and worse data out of China.
Aussie is a proxy for bets on China and is showing weakness.
