EURCNH daily chart is consolidating and has formed a new higher low. This higher low can be connected with a trendline to create a support trendline. The price is currently approaching this support trendline, and there is a chance for a bullish bounce or rebound from support line.
Past analysis :
The EuroStoxx 50 index is up 0.39%, the FTSEurofirst 300 is stable and the Stoxx 600 gains 0.2%.
The main European stock markets are moving without a clear trend at the start of Monday's session in a context of caution at the start of a week which will be marked by the highly anticipated US inflation figure and the mid-term elections in the...
As we see on the chart, the pair is going to retest a very interesting confluence area - a bearish trend on daily and H4, mirror level broken and soon will be retested, bearish trendline with many touches, and also a possible break and retest of a bullish counter trendline. Also, we have a clear impulse and nice correction to the mirror level.
Risk Management is...
*cup + handle pattern
*look good for long if closes and sustains above 8.2432
*Stop-loss and targets are mentioned in charts itself
Thanks for reading!
I compared EURO value to all major world economies outside of European Economic area (EEA) for an accurate evaluation of euro currency on global scale (USA, Canada, China, India, Japan, Russia, Ukraine, Brasil, Australia and South Korea).
And this is what we get in times of COVID crisis:
When COVID started in Wuhan and China international demand for EURO started...
Just a placeholder for now, since I'm not sure if there will be another high here - in this case, I'll have to adjust second Fibonacci and yellow line. Let's see how it will behave in the next week.
(inspired by @ridethepig idea: )
Daily chart:
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Here we go for a round of important chart update on the FX, Commodity and Equity board... I do not subscribe to the idea of this being the start of the euro reserve currency rally which we were tracking earlier in the year that failed from the Coronavirus short-circuit, although it is certainly moving with speed. Remember we have month end flows in play now too...
3 different harmonic patterns presenting themselves here- the most complete of the 3 being the bullish bat, in red, where each of the main points are bang on so far. Next, in the blue and green, we have a gartley and crab patterns respectively, both also bullish. The latter couple sharing X,A, B AND C levels, with only the PRZ (potential reversal zone) to...
