Event Risk: May CPI the key risk event, many braced for another blowout number. Fed enters blackout period ahead of their 16-17 June meeting. Bias: -DXY stabilizing ahead of key risk events in the next week: payrolls, CPI and ECB. A USD friendly mix can be stitched together: whisper talk into payrolls is more reserved, the May CPI will surely reflect ongoing...
BULLISH FOR THE PAIR: 1. Market reports: German Manufacturing and Services PMI beat estimates, Business and Consumer confidence are rising. US PMIs and Consumer Confidence are also up, but the USD is currently more focused on yields and risk sentiment. News: Accelerated vaccination efforts in the eurozone to support the EUR against other currencies. Risk...
The Dax's phenomenal rally from pandemic lows has seen the index almost double in just over 12 months on the back of ECB quantitative easing. However, there are growing calls amongst the more hawkish members of the ECB's governing council for bond purchases to be scaled back as inflation and economic growth is expected to increase in the coming months. However,...
EUR/USD is having a rare day in negative territory. Currently, the pair is trading at 1.2006, down 0.24% on the day. The euro has been in fine form in April, racking up gains of 2.3%. The currency has made up most of the ground lost in March when EUR/USD fell by 2.8%. The direction of the US dollar has, to a large degree, been dependent on 10-year US Treasury...
ECB frontloading PEPP purchases isn’t a negative for EUR/USD. It helps to underscore the latest market narrative of tentative stability in core bond yields, in turn taking away support from USD. EUR/USD to move above 1.25 in summer. The main winner from the subsequent stability in core bond markets is EM FX, mainly the high yielders that got hit last month. ...
A Bearish Butterfly Pattern is about to form up. Later at 9.30 pm (+8GMT){about 4hours and 45mins}, there is an ECB press conference, will your trading decision get affected by that? Well for me, it's likely that I'll hold back by the trading decision as this Press Conference is going to address a few issues. Let's see if we can use trendline to catch onto the ride.
Although many people are just looking for when to BUY gold, it is in a downtrend on H4. In addition, it is currently facing serious resistance, which we expect to push back the price. The price will be able to form new bottom at1667! The minimum stop must be above 1764. This allows for a current ratio of 2: 1. For a better ratio, you can go on a shorter period...
It's always similar to someone falling from the 25th floor. Everything is fine for 24 floors. Ignored. You can hear flies, then noobs all get excited and push each other to bet he will die after he hit the ground. Actually not even, they hesitate, they are afraid, they want to be real sure, so they wait till he is declared dead at the hospital and rush to bet he...
It's a simple ascending triangle, what could go wrong, right??!!! Lagarde has been so far "friendly" for Crypto, Will it be the same this time around? The way i see it, is that we are in an ABC correction, that topped at 55K, C wave starts with the "Retest", so in a few hours. Downwards target 36-42 K. Cheers Note: this is not financial advice, do your due...
The euro has rebounded on Tuesday, erasing most of the losses seen on Monday. Currently, EUR/USD is trading at 1.1901, up 0.46% on the day. The euro had its way with a wobbly US dollar late in 2020 and pushed close to the 1.23 line in late February. However, the euro has been under sustained pressure since then. EUR/USD is barely hanging onto the 1.19 level and...
Today we are considering the possibility of buying EUR, but against JPY. Here we are in a definite upward trend of the larger periods and the opportunity to enter at the moment is from H1. In the last few days we have seen a corrective movement that has been broken. This allows the price to continue to 130.23. In order to have the strength to continue this...
Forex got nerfed hard in the 2008-2009 patch but it might be about to become overpowered. 0-1200 elo players still play it a lot as the result is the same no matter what: defeat. It's super interesting to look at their positions on IG, FXCM, Oanda I think, myfxbook. 0-1200 elo traders keep going against the trend, and you can see the average winner of the 10%...
We see EURUSD moving lower pre key economic data releases this week including Euro Area Core Inflation Rate YoY and non farm payrolls. Additionally, the 20 day MA has dropped below the 50 day MA indicating a slowdown in the upward momentum the currency pair had gathered since March 20 lows.
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....
Trade Safe - Trade Well Regards, Michael Harding 😎 Chief Technical Strategist @ LEFTURN Inc. RISK DISCLAIMER Information and opinions contained with this post are for educational purposes and do not constitute trading recommendations. Trading Forex on margin carries a high level of risk and may not be suitable for all investors. Before deciding to invest in...
📌 ridethepig | EUR Market Commentary 28.01.2021 In this position, we have managed to build a solid floor at the 1.207x area and as widely expected Buyers fought like a lion to defend their jurisdiction. The ECB on the wires attempted to talk down the currency via threatening room for rate cuts, classic jawboning from Knot in attempt to provide shelter. They...
📌 ridethepig | EURGBP Finding a Floor After the preparatory manoeuvre, passive sellers are keeping a close eye on the 0.882x ABC target and already starting to cover. Sharp Buyers were aware of this and made the transition to attempt a base formation. With ECB / FED now cleared there is the customary inventiveness to continue with the rally. What we are...
📌 ridethepig | EURGBP for ECB Now that we are trading back at the lows in the range in EURGBP, the game is roughly level going into ECB today and we can begin to look for positions once more. In a situation which is very similar to the previous flow that we played from the pivot in December. Continuing to build EUR exposure at 0.885x and looking for ECB &...