the pair after breaking the down trend line the 71% and 78% fib level pushed it back again under the down trend line
M Formation has formed over the last month. The price also broke below the uptrend, which signalled strong downside to come. The EUR is not looking good along with other other counterparties. And we have further downside signals like. 21>7 Price<200 RSI<50 Target 1 will be all the way to 0.8407 which gives this potential trade a Risk to Reward of 1:1.8
With EURUSD being back to test the daily supply, and bouncing off, I'm confident in the sell down to TP 1, possibly 2, and will leave 1 position running to TP3
Price has retested the resistance severally. I expect price to drop to as low as 1.6877. Stops are above 1.7474. Use proper money management.
Simple & Clean chart. 1:3 R:R trade. Use proper risk management Enjoy!
1:5 RR trade .. We think that the short-lived bullish trend has ended as the EU elite are taking their profits before the ECB meeting. The ECB could have a big surprise for us on Thursday!
Looking short this pair on 0.88550 need conformation on lower time frame.
Fundamentals:- Although there was some weak data from the US last week as a whole the economy is still on the upside. Non Farm payrole figures came in better than expected whilst unemployment creeped back up t 4% from 3.8%. Average hourly earnings also dropped from 0.3% to 0.2%. Over the long term I don't expect this to hold the USD down for any length of time. ...
Fundamentals:- After a failed trade on this currency pair today we still believe the downside is imminent. Why? After a subdued super Thursday from the BOE and no change in either rate hike or votes by the MPC. Mark Carney later said in an interview with the BBC that it was likely rates would rise before the end of this year. With the outlook for Europe pushing...
short @1.0958. Great upside protection @ 1.10 level which acts not only as a psychological number but also as weekly resistance.
If we break the neckline there are three potential spots we could move to, pick your preferred target. We could even go to pre-Brexit levels. Personally I would wait for a break and close below the neckline and then sell a move back into the neckline. It might a bit early to call this but better having something on the watchlist than looking back and missing a...
sell @ 115.845
The Gross underpricing of ECB and FOMC Monetary Policy Changes - A fully-priced medium-term equilibrium Lower coming? EURUSD: *Short EURUSD 3m-12m Duration: 1/2lots @1.11 - 1.07TP1; 1.04-5TP2 1.01TP3 1. On Decemeber 2nd the ECB cut their rate by 10bps to 0.05%, paradoxically this actually caused EURUSD to rally higher. Thus this is a mispricing as...
IMO the ECB minutes were the most dovish/ clearly directed statements out of the ECB for several months. Before this, and in the past several speakers comments, sentiment has been towards the hawkish/ stale side, citing "ECB has done enough" as the main rhetoric. The June Minutes however show a renewed positioning of the ECB, where they clearly imply they are...