I think we can get a retracement in the financial sector, and Europe is in worse shape than the US in general. It wouldn't surprise me to have some negative news pop out, surrounding Italy's referendum, Deutsche Bank, Italian Banks, UK banks, Brexit, etc. Quite a few potential catalysts for volatility, so, if we see this ETF break the linear regression channel...
In this chart I show you the key events and times of occurrence ahead of the news today. The US futures market will probably open with a gap due to opening after the polls come out, but there will be plenty of time to await the official results, so, the market might remain volatile and directionless before the results are out. I'd reccomend you keep risk small if...
I'm already skeptical of the EUR, but regardless of the news today. It has already retouched the resistance at 121.320 and came back down, so I expect it to near the bottom of the channel, before heading back up.
Bullish on the GBP for a bit longer. Fundamentals are good for it to get near to pre-brexit levels. An Italexit would only help push the GBP further. Meanwhile everyone is pretty bearish on Yen. So I'd expect this to keep doing what its doing, consolidate for a bit to retouch the 40 WMA, then break out of the flag upwards.
GMMA crossover between 6.25-6.50 with strong momentum, with MACD in long position BUT RSI overbought way over 70 so opening a position would have been very risky... despite overbought price reached 6.79 before retracing so there was space for a gain but I thought there was too much risk for me buying with RSI at 74. A strategy could be waiting for a retracement...
BUY: 0,75090 S/L: 0,74330 T/P 1: 0.5 Fibo level T/P 2: 4h Resistence T/P 3: Monthly Resistence
LONG POSITION ENTRY POINT: 1° tranche <= 1,970 STOP LOSS <= 1,852 TAKE PROFIT: follow our updates and sign in www.tradingbusiness.it
TIPO: LONG ENTRY POINT: 1° tranche = non più alto di 2,19 euro 2° ENTRY POINT: 2° tranche = 2,100-2,080 euro STOP LOSS <= 2,034 euro TAKE PROFIT: follow us on www.trafingbusiness.it for updates
Notes on chart. Waiting for weekly closes is best here....I don´t want to buy either, as a long sideways market over the summer is possible.
LONG Intesa Sanpaolo (ISP) Cerchiamo di entrare in acquisto (LONG) con la 1° metà della nostra posizione standard ad un prezzo non più alto di 2,230 euro e con la 2° metà in area 2,16-2,15 euro circa. Stop Loss tassativo su tutta la posizione sotto 2,112 euro (ovvero prezzo last <= 2,110 euro). Take Profit in area 2,36-2,38 euro circa www.tradingbusiness.it
Try to go SHORT in area 1,255-1,260 EURO. Stop Loss > 1,274 euro (last >= 1,275 euro). Take Profit about 1,190 euro. From: www.tradingbusiness.it Please log-in into www.tradingbusiness.it
Update LONG idea about the ENI ITALIAN STOCK
... "when they tell you that the Spread with Germany is at its lowest ever not believe... this is the only one that is important"... 01/01/2002 - 01/08/2009 : Spread vs DAX FTSE MIB lows . Divergence contained 01/08/2009 - 01/12/2014: BOOM BREAKS Spread between DAX and FTSE MIB . After 2000 days DAX " Overperforming " FTSE MIB approximately 130% since 2002 ( euro...