RCtrader2

RCtrader2 Updated 

I believe the euro is about to make another rebound and so I am long. What do you guys think? Post your opinions below.

RCtrader2 Updated 

Inflation in the USA is soaring and the FED is taking steps to address this. As long as the ECB keeps its dovish stance towards tapering QE or increasing interest rates, the direction will remain unchanged. The price might create some corrective waves but I am confident we will see 1.0500 by the end of May 2022.

RCtrader2 Updated 

The PA reached the upper limit of the Bollinger Bands on D1 and created a bearish harmonic pattern on H1. The price should at least reach the TP1 on the chart on its way down before it continues going up again.

RCtrader2 Updated 

Bullish Butterfly on H1 is a reversal pattern, I believe traders can aim between 100 and 200 pips. There are harmonic patterns on pairs like usdcad, audusd and eurusd as well, which strengthen the bullish outlook on gbpusd.

RCtrader2 Updated 

FX:USDCAD price action is close to a (1D) trendline and so it could either break it or be rejected. SL is 30-40 pips away.

RCtrader2 Updated 

The Ukrainians are sturdy in the defence of their territory, identity and future, and so are not giving in. The US and EU are gradually assisting the ravaged nation with military equipment, humanitarian aid and constant rebuke of the aggressor - Putin and his acolytes. It's time we see some rebound in the euro and sterling pound.

RCtrader2 Updated 

The USDCAD could either rebound or break the trendline and so significantly dip in favour of the CAD. The odds are in favour of the CAD, now that Brussels and Washington push for winding up most trade with Russia as to force it to reconsider its invasion of Ukraine.

RCtrader2 Updated 

The Russian troops have been deployed on the Ukrainian border in more than a dozen strategic locations. For weeks, Putin and other Russian officials have held the narrative that NATO is a threat to their security and they don't want to see it expand in the area anymore. It seems there is a need for a catalyst, aka Ukrainians are throwing missiles into pro-Russian...

RCtrader2 Updated 

Today, the US inflation rate release caused a lot of commotion. The price could move higher, but I think we need to retest the 1.1350 area before it breaks the 1.1520 resistance.

RCtrader2 Updated 

If there is a strong bullish bias then the teal trendline should hold and push the price higher. In an alternative scenario, if the trendline is broken then the pair could retake its bearish descent or move sideways.

RCtrader2 Updated 

GBPUSD has been seriously on the rise, but can it break resistance areas and the channel's upper bound? Where do you guys think it is headed?

RCtrader2 Updated 

Customary, valid H&S patterns give a profit as high as (or higher) the length of the distance from the neckline to the top of the head. In this particular case, I believe the pattern will send the price lower to test the 2021 lows.

RCtrader2 Updated 

If the bulls were to make a move then they had to keep the ground at 1.1340. Unfortunately, they didn't, and my thoughts are that we will see a lower low this month, somewhere close to 1.1100.

RCtrader2 Updated 

The price action created an accumulation of candles on top of a horizontal support area that energized bulls and pushed the price significantly higher. However, one reason for that to happen is the BoE's decision to increase interest rates in December 2021. I expect the price to make a cluster of bullish and bearish candles, now that it neared the upper bound of...

RCtrader2 Updated 

A new year has begun and the bulls are already leading having broken the pennant on the daily chart. If they are serious then our next stop is either any point on the downtrend line or the 1.1500s. Also, we must take note that the Build Better Bill fate is extremely uncertain and if it fails then we expect the euro to gain a lot of ground.

RCtrader2 Updated 

A few days ago, I thought the price sketched a rectangle. However, experts say it is a triangle and so I agree with them. My thoughts are that the triangle could make a fake breakout on the upside and then dip fiercely towards the lower bound and break it. I think we will be out of the triangle in the very first days of January 2022.

RCtrader2 Updated 

The FED announced that it will hike interest rates three times next year. The ECB has done the opposite saying that interest hikes are unlikely though it will monitor inflation closely. The bulls have been exhausted, it is time for the bears to push the rate lower.

RCtrader2

The price has beautifully sketched 5 impulse waves on the weekly chart and possibly half of the 3 corrective waves. There is still time to trade inside the 3 corrective waves until the end of the year.