1.17200 Resistance worked well. This was the first target of the I SHS Pattern which we have published last week. This attempt appears to be a false breakout of the triangle in the midterm charts. After the break below of the triangle, pair tested 1.15800. ( See attached idea ) We will have a quite "data busy" week. U.S. "Non-Farm Payrolls" and Unemployment...
Fundamentals: EURUSD ended the week at 1.17200 under the shadow of the political jitters. Powell “lights the fire” by stating that “with a strong job market, inflation close to our objective, and the risks to the outlook roughly balanced, the FOMC believes that – for now – the best way forward is to keep gradually raising the federal funds rate.” who is...
Fundamentals: Powell’s testimony on monetary policy was quite optimistic pointing out the recent inflation readings are encouraging On the Euro side, we will have June inflation figures. On the US side, Housing Starts and Building Permits will be released. Technically: As seen on the H4 Chart, EURUSD is breaking out the Bearish Triangle. The price moved below...
Hello Traders, From our previous preview of this pair, all we needed were lower lows and that we got as price action shows. As you can see, not only is there is a stochastic sell signal in the weekly chart but bears are capitalizing on that clear bearish divergence following an over-extension/EURO over-valuation by week ending February 2. However, that’s not all....