Price now consolidating at the 200SMA, waiting for the impulse lower to sell more, targeting lower areas.
No major data today for either of these currencies.
Please support the idea and share your thoughts on EURUSD!
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What's up Traders,
Looking at the Dollar being weak again this weak with UJ following its nasty downfall. plenty of Technicals to back it up. Looking at the 4hr on UJ, the first thing I want to address is the Hidden Bearish Divergence(Lower Highs on chart, Higher Highs on RSI). That's the the cherry on top, the main indication is last weeks rally to the supply...
📌 Dollar for the Yearly Close
Now comes the dollar complex which we have covered several times - the artificial devaluation which we were tracking in 2019 has arisen:
Dollar bears now have a good position, because it is looking highly unlikely that Trump...
📍 Dollar into December ...
Here we are dealing with a sensitive situation, which we have discussed previously at earlier opportunities. One should not overlook the underlying strength of the dollar given it is the centrepiece of the currency board. After clearing the vaccine and all is roses newsflow, the next chapter of covid and risk is here into December - I...
Technical view: After breaking the downtrend line, price action stumbled at 1.20 and retested the line. Now price in a range between 1.16 and 1.20. A break of 1.20 would signal a continuation of the uptrend after the break. Next target level would be 1.24 area. Overall the chart suggests a higher probability to the upside.
Fundamental view: With US election...
DXY tested uptrend line 3 times and climbing
If you like this idea please leave a comment so we can talk about it
Remember that it´s never a straight line to the target.
BIG profits to you ALL!!!
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Good evening/morning traders
Havent done much analysis on the NZDUSD in a while.
However, its looking like a tasty short to me!
It definitely has caught my eye and is going on my watch list.
As always, keep the risk managed
📌 The capitulation
After PA in December 2018 showed us the basing formation it has been all 'one way trafffic'
This may lead you to wonder why it is so important to understand the fundamentals and definition of current capital flows, because it is then possible to build one's whole...
the dollar is reaching new lows, yields are scouring the bottom (probably up to a point) and EURUSD at the highs ...
1.1904 previous "high swing" broken and now as the first demand level,
1.1840 untested level as second demand level
stop below 1.1825
First target 1.20
Second target 1.21
The Kiwi has been pushing lower pretty easily since our initial kumo breakout.
We are in the middle of a bearish engulfing candle and approaching previous price structure support.
If we can break that support then it will confirm our short bias.
I've drawn out a couple targets I'll be aiming for.
I don't always make this clear, but I wanted to make sure...