Technicals self-explanatory on chart, following the same strong USD bias I have over the next while...
EURUSD is setting up nicely by retesting a broken support ahead of tomorrow's ECB meeting. We should see a strong test of the 1.1950 barrier before travelling lower. I see 1.1970 as a good crisp entry point to take us lower. Since this is a swing trade I always look to add more positions later on down the line and will post when I plan to...
We're breaking out of a resistant trend line. We formed some bullish structure over the last couple hours upon testing a resistance level that we've since broken through. I think we have a clear path to move higher for the rest of the day and into tomorrow towards the 0.91 mark.
Agree with bitcoin or not I want to state some facts here that are indisputable: 1. Bitcoin can never replace a currency with a central bank as a medium of exchange in our current economic system because it doesn't have an expandable supply. You can look at an increasing money supply in two ways - 1) It devalues savings, creates inflation and everything else we...
GBPUSD approaching a resistance. Potential that we continue higher as the U.K. vaccination pace is doing far better than the U.S. especially as vaccine supply is drying up in L.A. and N.Y., the two most populous and economic cities. I believe the recent rise in yields is giving the USD some strength, as we can see with a potential EURUSD bounce around 1.19750, so...
We're approaching a support level on EURUSD at 1.19500-1.19750. We've been trading in a range on the lower timeframes and currently we're approaching the same support we have on the daily as the bottom of our range. We've got another push down into it over today and tomorrow but we should begin to bounce next week and so on.
GBPJPY on the weekly has hit a resistance, similar to GBPUSD. Mostly due to the United Kingdom's vaccination pace, re-opening schedule guaranteed which means business can now prepare to reopen. However we are seeing U.S. yields rise on anticipation of a potential inflationary period in the U.S., this adds some strength to the dollar and money flowing from other...
We should see another test of 1770