Looking like US Dollar is rejecting for third time! So we might get a turn on Euro pairs like EUR/CAD and Gold / Silver / Oil. Watch out might get a short covering rally in all these pairs everyone is selling!!! Be careful on shorting....
Multi-year breakout seen here.
If you look up closer in the 2-4 hour charts you can see what looks like a flat consolidation forming with a 3-3-5 structure.
From what I can tell that flat is complete and we are now continuing our push to the upside.
This breakout supports the notion that we will experience a blow-off top in the equity markets caused by a...
this level is very very heavy to short. because 200 days support line, .618% fibo expansion, 1.618% fibo extension , scallop after breakout and wedge bottom after strong breakout and bad follow through.
There’s a downward double zigzag, which is supposed to be wave (2). Previously, we have a massive advance in wave (1). In this case, we might be at the early stages of wave (3) of ((C)), as shown on the weekly chart above.
Price formed a wedge and approached the uptrend level. Expect a bounce-up from this location. In case when the price will continue to go down I expect a rebound from the support level of 1.61.
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Here is my thought about EURGBP.
At the moment we are talking, price is at the support right now. The down trend is still strong, however, buy the support sell the resistance. Here is what I think could happen in up coming days. Price could bounce from this support. Profit target should be Fibonacci level from the top to bottom.
Also, there will...
EUR = strengthening
CHF = weakening
GDP diff = short
Exports Analysis = Long
IR% Diff = long
Stock Index = Long
EUR OI Hedge Funds = Long
CHF OI Hedge Funds = Long
TA = Long
Majority = Long
The euro area has had an interesting start to 2021. The latest GDP figures show the big four European economies beat expectations in terms of growth. The main areas include...
Descending wedge on EURUSD - THE EU Council have drafted a policy paper to reduce dependence and vulnerability to the USD, and plan to increase use of the EUR in financial markets. This is EURUSD Bullish!