AndreGreenBsc

AndreGreenBsc

The EURUSD seems caught in a range and may push to the downside due to heightened risk of an economic downturn. We will have to wait for the Euro GDP data tomorrow to know for sure.

AndreGreenBsc

Key EURUSD data will be released in a deluge in the middle of this week and it will cover everything from Employment to inflation. Until then expect a window of lower volume to the upside to meet a major zone of resistance.

AndreGreenBsc

Crude Oil Price in a zone of support set by a resistance and a fibonacci level. Oil prices have been driven lower due to China shut down, slower economic growth, and rising rates. However U.S. Strategic Petroleum Reserve have been at multi year low and should more negative data be released on Wednesday it may push the crude prices to the upside.

AndreGreenBsc

The GBPUSD has seen a marvelous breakthrough to the upside and has meat resistance near 1.21. This is as a result of mixed US economic data and a FOMC Doveish stance which some persons are hoping will mean a reduction in the size of future rate hikes to maybe 50 basis points. A recession is projected for next year and FED Chair Powell has said before that rate...

AndreGreenBsc

The major of the two zones of resistance is to the upside at 1.193 and so a move is expected to the upside to retest resistance between now and the release of US Data tomorrow morning.

AndreGreenBsc

EURUSD moved towards resistance near 1.03 as expected however it stopped short at 1.0289 near a region of resistance. Will it first retest this region of resistance before attempting a move to the downside or will it begin a move to the downside immediately?

AndreGreenBsc

I expect the EURUSD to Oscillate and retest old levels between now and the release of major economic data later this week. There is an emphasis to the downside as the 1.03 seems to be a major psychological level. Question is whether the zone of resistance between 1.0225 and 1.0220 will hold until then.