The last few days price action looks to have completed a very nice fourth wave in an 5 wave impulse beginning from late August highs. Some of the key factors I would identify are 1) the scale of the moves, the first wave being similar in size and time is not surprising 2) the alternance principle in the retracement waves - 2 versus 4. Typically in a 5 wave set...
Any thoughts? "Dollar Will Rise to Parity With Euro, Principal Global Says" "The dollar is poised to strengthen to parity with the euro in the next 12 months as the Federal Reserve is still on course to raise interest rates, even after deciding not to act this week, according to Principal Global Investors." "Analysts predict the dollar will appreciate to $1.05...
As of 5:30 pm EST Crude (CL1!) has fallen 4.64% and has broken its last most recent major support level. Due to this breach, it is most likely that negative crude price action will continue. Based on the inverse correlation between Crude and the US Dollar, Crude’s impending continued fall will be good news for the US Dollar. Us Dollar rally will result in the...
If the downward movement continues, a breakout of this support to the 61.8% fib is a possibility, or even go further from here. If a retraction arise, from this Support where we are, or from below (acting as a false breakout of this support), we will look for the last lower lows from structure, around 1.108 or 1.122, however, the 61.8% fib extension from the...
We have a classic break of consolidation to the downside. Support then becomes resistance which now being tested, We will target 1.44 with a SL 1.4700.
Fellow traders I would like your opinion. We are embracingmarkets embracingmarkets.com
If the AUDNZD is headed to 1:1 then I'll start the move off with this short term trade idea.
Back in July 2014, price broke out of a falling wedge pattern, found resistance at the 1.000 level and following the unpegging of the Swiss Franc, retested the backside of the wedge this January. Since this event market sentiment on the dollar has been incredibly bullish, pushing price through the parity resistance within the last week. It has since been failing...
If you have been short EUR/USD or buying FXE puts, for this last move its time to scale out and take profits. Tomorrow morning we will have a volatile whip lash as the ECB is likely going to announce QE. There have already been reports of leaking news concerning the size and scope of the QE. Bloomberg has even mentioned a delayed start date, March 1st. From...
A bold call, but a definite possible for those really long term traders out there. We are likely to see the continuation of the down-trend of $EURUSD as we enter 2015. Further QE in the US is unlikely, and at the same time the situation in Europe worsens and new stimulation measures could potentially be introduced. The closure below the 9 year trend line and...