The Fibonacci retracement has seen the pair retrace back down towards 126.374 which is also on the uptrend support line and 50% Fibonacci mark. this comes after large gains over the yen but in the past few days and particularly in the past 72 hours we have seen strength in the yen over the futures and stocks that have gained over the euro. we can add that the U.S...
in the early hours of this morning the RBA interest rates decisions were released and the figures were unchanged at 1.5% with the market volatility moving just over 10 pips and not having much significance.
we have seen strong gains in the dollar with the announcement of possible interest rate hikes by Jerome Powell though there was a huge decline in the...
Today we have seen a positive Non-Farm Payroll that was greater than expected.
on the other hand Manufacturing PMI was positive.
we can therefore be re-assured of a positive Dollar over the Yen and look for Buys in the week ahead
EURUSD has seen rejection at 1.15000 and thus seen gains In the dollar bringing the exchange closer to the 50% Fibonacci retracement.
this has brought back into the consolidation region and has seen a pull back at the new resistance
today we have Non-Farm Payrolls which could see Eurusd pair move towards 1.13800 region
Fifth Impulse Wave complete.
we should see a Bearish Market from 113.000, possible trendline break to come in the following week.
we must note that Non Farm Payroll releases are to be releases this afternoon and should take great caution with this pair.
this pair has been rejected at 128.500 after a drop from 129.000.
on the hourly chart we also have two evening star formations that have formed, this indicates a price reversal and in this case a bearish market.
we can now short down to 127.600.
my analysis is as follows
This pair is Testing Resistance which lies on the 50% mark on the Fibonacci Retracement Tool.
1.31000 is a common support area and has been previously rejected
we have thus seen a Inverted HEAD & SHOULDERS formation
I foresee further gains in the EURO.
Entry at 1.14500
Stop Loss at 1.13650
Take Profit at 1.16000
Indecision at 113.800
the gap due to the G-20 summit has closed. Asian stocks are positive after trade war negotiations.
I see a trendline break and short down to 112.500 however we are to wait for confirmation in a trendline break
Entry at 113.400
Stop Loss at 113.750
Take Profit at 112.500
This morning we have seen a Gap resulting in a trendline test and 129.000 resistance test.
an inverted hammer has closed on the hour chart and should witness a price reversal.
we must note that the Asian stocks have gained after G-20 trade talks between U.S and China.
Going short to 128.000 is my call.
U.S.D gains on the uptrend channel
a triple top has formed at 114.000.
the third retest on the Uptrend Support after Rejection at 114.000.
this area lies between 90% on the Fibonacci Retracement Tool.
This week we could see Yen Gains down to 112.400 but must keep open the G-20 and U.S Stock gains
The U.S Dollar P.M.I Increases
DXY gains of +0.42%, S&P 500 gains of 0.82% and Dow gains of 0.79%
as a result the Dollar has strengthened ahead of the G-20 Meeting.
Aussie Dollar is down over the Greenback and thus on the chart we have a Double Top at 0.73500. Strength in 6he U.S Dollar could see a Uptrend Support line retest before resuming...
USD gains on the Uptrend Channel.
A triple top has formed at 114.000. this is the third retest on the uptrend support after rejection at 114.000.
this pair now lingers around 90% on the Fibonacci Retracement Tool.
This week we could see Yen gains down to 112.400
As I am sure we are all aware of the latest news on Brexit.
this will further boos the downfall of the Euro as there will be a lot instability.
On friday we saw the fall of the Euro after the Price Mnaufacturing Index releases got released.
my analyse is as follows
1. Mid-Election Results = Positive
2. Trade - War Negotiations
3. Positive Non-Farm Payroll
4. United States of America Treasury Bonds
Positive and strong United States Economy which sees the Aussie resisting at 0.73000.
I therefore see further consolidation and a potential support at 0.72000