Morning outlook - EUR/USD slips on Catalan referendum
In line with expectations, the currency exchange rate managed to break to the top, crossing the 100-hour SMA plus another resistance level near 1.1810. During the two-day surge the pair even formed a little ascending channel. But due to referendum on independence in Catalonia the Euro lost 0.3% against the...
With a significant fall on the market open of almost 100 pips of the Euro and a significant retrace of 200 plus pips to the upside, EU has reached supply zone with market exhaustion. S/L of 18 pips above Supply zone, I believe this is a strong area to short.
I was expecting this breakout. Now that it's happened. I will wait for a pull back and go for a real sell.
Stop loss to be placed at 1.07 and target at 1 or below. This sell could last till the end of the year.
If the FED rate hike expectation this month also comes in place, then the 1.0 is not far fetched
EURUSD is in focus this week with the Italian referendum and the monthly ECB meeting.
Here's a brief list of what we see in EURUSD chart:
1. EURUSD is still inside a weekly trading range (1.05-1.114). Last week the bottom of the range held as support.
2. 1.05 is also the completion zone of a monthly bullish AB=CD pattern.
3. Inside the range we have two bullish...
On the monthly chart above i have posted key points in previous years where the pound has taken a dive against the dollar. August 2008, the recession hits, the value of the pound drops from nearly 2.00000 to 1.35300 in 6 months. August 2012, the economy enters a double-dip recession after two consecutive quarters of contraction in the economy. Now, late June 2016...
The 16/03/2015 the Euro Dollar slowed its fall (opened in 1.04701), and never again be there until the 12.03.2015 where he approached with record lows of 1.05168. Not without having had a maximum of 1.17140 on 24/08/2015.
So in my opinion, taking from the minimum point where the fall March to August peak stopped, so should be the Fibonacci retracement on daily...
If we took a look at the Scottish Independence Referendum in 2014, we can see how similar are these two events.
About 1 week before the voting, the "remain" league takes the lead, and GBP gains by a huge percentage.
So, the voting day is not important, the day when the result is available is IMPORTANT.
We know that there are 2 results:
1. UK remains to be a...
The GBPUSD appears to be pricing in a Remain vote, given the current weekly candle's strong break above the downtrend resistance line that began last August. Weekly RSI, Stochastics and MACD are all rallying. Significantly, the GBPUSD held the psychologically key 1.4 support during last Thursday's heavy selling. I'll be looking to go long tomorrow (Friday)...
The EURUSD appears to be pricing in a Remain vote, although not as resoundingly as the GBPUSD. Daily RSI, Stochastics and MACD are all rallying. Significantly, the uptrend in this chart held last Thursday during the intraday dip, when the GBPUSD tested the psychologically key 1.4 support. I'll be looking to go long tomorrow (Friday) after 7am London on any...
Don't lose out, don't try to get too clever.
The direction right now is DOWN to fill the void of the recent spike.
Will the UK stay or leave? Don't know, don't actually care.
All that matters is that we monitor and FOLLOW the patterns of price.
Should the UK remain hit the reverse upward trend as of tomorrow when the referendum is done.
Should the UK leave keep...
As the EU Referendum approaches we can see a massive fall in price for the euro we can expect this to drop to around 0.7330. this break the current channel that is beginning to form, we have had a massive sell off at 0.7950 we see this continuing/
TRADE WITH CARE THIS WEEK AS FUNDEMENTALS WILL RESULT IN MAJOR VOLATILITY ACROSS THE GBP AND EUR PAIRS!.
A FULL ANALYSIS BREAKDOWN WILL BE UPLOADED ONTO MY YOUTUBE CHANNEL BedroomBillions, Follow me on Twitter & Instagram @ Billionsfx , for regular market analysis
Following the upcoming brexit referendum gbpusd is likely to see large amounts of volatility, the...
Will be taking a long position on GBP/USD based on the following reasons:
- Bullish hammer candle on Weekly TF.
- Rejection of 0.786 fib
- Respected ascending trendline
You might be thinking that I am super crazy by taking this trade, especially with the referendum only a couple of days away, however I feel as though the UK will not be leaving the EU and this is...
$GBPUSD will likely rapidly recover once the $Brexit uncertainty is over after June 23rd.
Markets overshoot in both directions especially before and after hugely historic events so we should see 1.52+ again pretty soon.
I thought I would share my idea and thoughts on the GBPJPY as we rapidly approach Britain's EU referendum.
For two weeks now I have tailed the GBPJPY down to its psychological support levels 150.00 and 149.500.
As the 23rd June nears, I can't help but see a great opportunity to short in the GBPJPY, as current sentiment favours the Brexit rather than the...
GBPUSD closes below the 95% reversal SD Channel line, also LSMA gains momentum past price action indicating a pullback is close..
Short term is bullish but no interest in GU topside.
INSTEAD we let the bullish technicals play out, hopefully carrying us back to 1.465-7, then we SHORT from these levels where several resistance levels lie and volatility resistance...
Gold (01.12.2014) reverse from $1207 mark which we mention as first resistance for bulls. However fall from mention level should taken as correction or profit booking but swiss gold referendum added more fuel & created panic selling.
Now gold is trading around $1275 & we have witness a sharp bounce from recent low $1142 made just after a NO answer from swiss gold...