This is an opprtunity to get in on an existing trade that has had a sizable pullback on the breakout of the channel. We are looking to trade this one down to 15000 with a stop above 15840
On Tuesday we will know the indicators of inflation for Spain and Germany. In contrast, the United States will flow data on the trade balance of goods and the consumer confidence index reading by the Conference Board. It is worth mentioning that Tuesday's reports are important in the context of future policies and possible action by the Fed and the ECB. The...
Learn 2 trade like a pro FOR FREE boafx.com - We expecting positive data and hawkish tones from the BoE today with a possibility of the MPC vote coming in at 2-0-7 as the BoE already said they would not let the chinese market effect their decisin on monetary policy. Pressure is on the ECB to extend and increase the QE program which should weaken the Euro currency further
KEEPING THINGS SIMPLE ON THE EURUSD - NOT OUT OF THE WOODS YET (1 day, log scale) As said previously, I couldn't even believe EUR would show itself to be THIS strong. Well, it turned out to be short-lived. At least for now. Let's see where we stand. It's not all that negative :o) - ever since the EURUSD is looking for support - but hasn't found it yet - the RSI...
Let's look at the really big picture here on the EUR/USD- the MONTHLY chart (log scale). Note: this is of course NOT suitable for trading. Beware. Usage: - protecting your savings (by going into USD) - determining the overall trend (which pressure prevails, when going down to lower time frames?) - as well as determining important support & resistance...
Let's look at the really big picture here on the EUR/USD- the MONTHLY chart (log scale). Note: this is of course NOT suitable for trading. Beware. Usage: - protecting your savings (by going into USD) - determining the overall trend (which pressure prevails, when going down to lower time frames?) - as well as determining important support & resistance levels...
KEEPING THINGS SIMPLE ON THE EURUSD / UPDATE (1 day, log scale) ( little has changed, things working out as expected ) -the April/May negative divergence worked out -price was meeting resistance in June turned down as expected -at the time, RSI was just slightly at overbought levels (I would prefer a larger RSI overbought reading for a start of an uptrend) -we...
Learn 2 trade like a pro boafx.com - After the strength shown overnight in the AUD and the overall weakness caused by QE on the Euro I have been monitoring this overvalued currency for sometime. On the daily chart there is a nice engulfing pattern indicating a change in trend and the long term fundamentals on the AUD could be at a pivitol point. I also have reaon...
Learn 2 trade like a pro boafx.com - The Euro is overvalued against most currency pairs at the moment and the engulfing candle on the DAILY chart would suggest a change in sentiment over the next few days/weeks. I am looking to make the head and shoulders pattern on the 4 hour chart here and then sell off from the second shoulder.