When we look at the past history, Germany,
whose army was liquidated by nato and russia,
decided to form an army again.
Europe will invest its savings in arms.
Since the world arms market giant is America, the biggest demand for dollars will come from Europe, what triggered this,
Russia's attack on Ukraine? of course no.
The second largest army of the...
• Euro is trading in a bullish trend
• Further signs of trend reversal are showing up everyday
• First, the pair is trading above the 200 SMA for the second consecutive day
• Bulls managed to break and trade above the descending trend line since March 2022
• Price confined inside an ascending triangle, a bullish formation
• A break above the triangle targets 1.08...
• Rejection at the 200 MA
• Double top pattern on daily chart with neckline around 1.02
• Bears are in control, aim the ascending channel and a break of the neckline
• Resistance at 1.0480
• If neckline is broken successfully, market will test parity level again and lower
Technical Analysis and Outlook:
Eurodollar has completed the retest of our Mean Res 0.9965 - there is a slight possibility of extending this dead-cat rebound to Mean Res 1.0080. The current down move is prone to pull back to our Mean Sup 0.9895 and beyond in the foreseeable future.
As per technical side SANK as per 1M Stoch RSI.
That factor will certainly prevail which will cause stronger EUR and regaining the ratio in a favor of EU currency.
*MACD. multy cross on 1W
*1M KDJ bottomed.
*RSI hit the bottom on 1M timeframe.
Strong EURO will make Europe less competitive and leading towards implosion in certain timeframe (strong currency,...
I outlined in my previous post that we would see a minor bullish pump up to the BSL to clear late shorts and I jumped on the ride. It's safe to say we've successfully accomplished that objective.
Again, I don't expect price to go above Monday's high, so I'm keeping my eyes peeled for the real short. Stay safe.
Since Monday's price action ran into an old weekly high. On the daily, we closed bearish and Tuesday's price action closed bearish as well. I'm expecting a minor bullish move to clear late shorts after which we will dump way lower into the 1.02 levels. I do not expect the bullish move to run up to Monday's high. It's a minor move, just aiming to clear late shorts.
• Trading above ascending trend line
• Symmetrical triangle on hourly chart, a continuation pattern
• A symmetrical triangle forms after a strong move, indicating a pause before the continuation of that prior trend
• Next target for bulls is 1.0480
• Bullish bias intact as long as the Euro is trading above the black ascending trend line
• Upward channels on daily chart
• First channel was broken, upper trend line was re-tested and is acting now as a support
• Pair now targets the upper resistance line of the second channel at around 1.05
• First resistance at 1.0480
• Second resistance at 1.0790
• Bullish stance as long as support at 1.0350 is held
Trade Type: 4H Continuation Play
The technical have set-up nicely. The trade is good to take at close of the previous candle.
We're seeing a break of William %R above -80 for a continuation and the other indicators showing initial momentum for a further continuation.
Price & Target
Target Price: 1.03563...