Fundamentally the euro is one of the weakest currencies out there and the recent rally is another excuse to go short. The GBP has got some potential as the next rate decision is likely to be an increase according to the BoE. tECHNICALLY WE CAN SEE THE PINBAR REJECTION OF THE 7800 LEVEL WHICH WAS OUR BUYING TARGET FROM A FEW WEEKS BACK AND A POTENTIAL REVERSAL...
The success of this trade is really going to depend on the outcome of the ECB press conference later today. If the ECB is dovish then the Euro will fall to previous lows of this year. However if they come out with hawkish tones in their language then we could rally back to 11050 and 13000. The fundamental direction for the Euro is bearish so I expect it to return...
We have good conviction fundamentally where this currency pair is going over the next few months, However we could experience profit taking pullbacks at anytime so looking for rejection of key areas will be important. The first point of call is the 38%-50% fib pull back where I will be looking to take my first sell
Learn 2 trade like a pro boafx.com - With the markets starting to look like a return to normality we can expect a correction on the EUR and with safe haven flows still running through the JPY I see an opportunity to take a quick 2:1 with a tight stop loss
Learn 2 trade like a pro boafx.com - After the strength shown overnight in the AUD and the overall weakness caused by QE on the Euro I have been monitoring this overvalued currency for sometime. On the daily chart there is a nice engulfing pattern indicating a change in trend and the long term fundamentals on the AUD could be at a pivitol point. I also have reaon...
learn to trade forex successfully for free boafx.com - This trade is attributed to an early position that missed the pull back trigger point by just 20 pips you can see this trade idea in the related ideas link. The better than expected trade balance that came out on the NZD and the poor sentiment due to the Greek bailout talks should bring this currency pair back...