This is Mid-term Analysis . This currency pair seems like as if it's going to be bullish. ( Having said that after a small correction) ........................................................................... EURUSD : BUY T.P : 1.154 S.L : 1.131
Fundamentals: - German industrial production declining (-1.8%) - IFO business climate continuous decline from 105 to below 97 points in a year - ECB program and rate cut insufficient support for economy Technical: - Daily double top formation - 38.2 Fib level as TP1 Trade: - Enter trade with SL above recent high
Fibonacci Retracement 0.618 Resistance Price action showing Shooting star and Doji Candle to start the week indicating no direction. European session could be a major factor in deciding whether this resistance is broken in tomorrow mornings session.
ENTRY AT AROUND: 1.12600 LEVEL STOP LOSS: 1.12000 TAKE PROFIT: 1.14000 RR: 1:1 On technical perspective the triangle has broken out and the price has retraced for us to go LONG here. The triangle breakout confirms that EURUSD is starting to consolidate and aim towards the weekly 50 EMA. With all the rate cut news going on and the US economy slowing, it should...
President Trump said Tuesday morning that Xi Jinping had agreed to meet with him at the Group of 20 summit next week. “We will be having an extended meeting next week at the G-20 in Japan. Our respective teams will begin talks prior to our meeting.” Trump wrote on Twitter. Markets are reacting to this tweet as a signal to relax. However, on our point of view...
On our analysis on the 04.06 we indicated that we were still short ahead of the ECB meeting but EURUSD went up after the ECB did not hint at any potential future rate cuts as anticipated by the market. However, at the ECB forum in Sintra, Mario Draghi indicated that interest rate cuts are a possibility which sent EURUSD tumbling below the 1.11926 Fibonacci level...
The BTC cryptocurrency rate for the first time since May 2018 exceeded its highest level. The information Facebook Inc. has signed up more than a dozen companies including Visa Inc., Mastercard Inc., PayPal Holdings Inc., and Uber Technologies Inc. to back the new cryptocurrency that the social-media giant plans to unveil next week and launch next year. We...
EURUSD fell as the 618 level failed to hold the price after ECB Draghi signals for more rate cut. The price is approaching the demand zone created with an inside bar breakout that sent the price soaring and break above a 3-month falling channel. What's more important now is how will the Fed react during FOMC as the Fed has already signalled for a probable rate cut...
Have a look at the attached link below for the full analysis behind this trade setup: INSTANT ENTRY: AT AROUND 1.13200 LEVEL STOP LOSS: 1.14700 TAKE PROFIT: 1.11700 RR: 1:1 shall there be any updates i will update them here below.
catching the rest of this move up to the 0.5 level would be good
The week started quite well for the financial markets and with a huge relief for Mexico in particular. The point is that Trump decided not to impose 5% tariff on Mexican goods. The Mexican peso showed maximum growth over the past year. The Canadian dollar is below 1.33. Therefore a sharp decline in gold and other safe-haven assets against this background can be...
wait for the confirmation of the short before entering. There could be a huge wicked movement like before
Long term wise, the Euro presents us with an interesting risk/reward scenario to go long, long term. I like the odds here, risking a mere 50 to 150 pips down from here, but with upside of up to 20% long term. I'd say this is a good deal. Worth a 0.25 to 1% risk shot. Best of luck, Ivan Labrie.
Monetary policy decisions. The announcement of the ECB’s decision on the parameters of monetary policy in the euro area was the main event. As expected, no changes followed. The most important thing, as usual, was concentrated in the comments of the Head of the ECB, Mario Draghi. The economic growth forecasts worsened again (the GDP growth rate for 2020 was...
EurUsd remains in a range after the ECB left rates unchanged, announced favourable TLTROs and pushed the first rate hikes into 2020. This was ALL PRICED IN. The Euro is now higher as a result. We may take out the 1.1300 level if Draghi does nothing to inspire dovishness.
The EURCHF pair has reached once again an important support level which can be seen on the weekly chart. The support is formed by a confluence of the 61.8% Fib level and a strong horizontal support - the lower levels of the recent range. Shorter-term charts shows a symmetrical triangle pattern which may soon break out to the upside. The pair may retest the upper...
Yesterday’s session started without a gap and after a short correction, buyers really headed upwards to higher levels. Unfortunately, the momentum wasn’t strong enough to reach our target at 12 064. The session was then closed near it’s open at 11 986. Important zones Resistance: 12 064 Support: 11 861 Statistics for today Detailed statistics in the...
On our analysis on the 31.05 we advised that we were short and had taken profit, since then the Dax rose over 12,000 on the back of dovish comments by FED Chairman Powell. It has since then dropped a bit and we maintain our short position ahead of the ECB and we will look to stay short unless the Dax rises above the multi month Fibonacci resistance level above 12,400.