Here is a funny fact. For almost one year Bank of Austrilia has been trying to talk down the currency with minor success. The real thing they realzied working is new adjectives & adverbs used in combination with " the Aussie is too high ". The tactic proved effective in May 5th , when Bank of Australia monetary policy minutes described the Aussie as " The exchange...
Lets examine the selling behavior over the last six weeks. At number 1 & 2 bears were in total control pushing down price as they can and protecting their tops. But at number 3, while price was scheduled to plunge throw 20.50 level - it stopped. Then, with that price failure the top of number 2 was taken twice at number 4&5. IMHO the area between 20.50 & 20.00 ,...
Early London session on Monday 4th of November Spanish & Itialian PMI was posivite as expected. However, price action saw minor reaction towards such numbers. Later on the day Dovish Fed's member Bullard was quoted on CNBC saying " "What's the hurry" to taper the Federal Reserve's massive bond-buying program.". Still, minor reaction on a strong Euro ... The...
The Daily chart shows a nice price movement pattern of the last 6 months. Basically price was removing resistance of odd numbers : 1.27 , 1.29 , 1.31 , 1.33 , 1.35 , 1.37 while stopping at or a bit above the even numbers ! 1.28 , 1.30 , 1.32 , 1.34 , 1.36 , ... The pattern was maintained during major fundamentals and global macro economic changes. You can see that...
As USDCHF keeps on maintaining a floor protection above 89.000. A good R:R trade could seem highly profitable. USDCHF has been stuck in a range for approximately last three years. Since Swiss central bank maintain its policy on weaker ChF, any short term strengthening will be compensated by them. That leads to one conclusion, that the path of least resistance is...
Last week Euro currency has renewed its victory as a heaven currency. The 1.34800 level held so many multiple attacks but its resilience was immune. However, keeping in mind that Euro is trading now way to far from the 1.30 i suspect the rally will continue to any significant levels ...
The Euro's crosses provide a very clear image of a Strong Euro - the...
As the 50 % FIB of 2010 & 2011 hold and found bidders. The pair may attempt to reach the 2011 high ( 1.06600 ). The line is the swing high of consecutive three years. Approaching it may feel risk off sentiment and push the pair to the 1.61 Fib of ( 1.09400).
Entry : 1.018X
Stops : 1.014X
Target : 1.046 , 1.066 & 1.094X
