Looking at the charts, we are below the 200 EMA.
The nearest supply zone is 1.3130, while the trend line is at 1.3183, which is close to the supply zones.
I am seeing price refuse to close below the rising trend line which signals a long position targeting previous highs.
You can set your SL below 1.3080, targetting 1.3402 ( Previous highs)
This will give 1:2.5...
Fundementals: Don't think there will be a second rate cut in the coming month till july.
Projections: Rate cut for RBA
July/August 2019 1.25 -> 1.00
Feb/March 2020 1.00 -> 0.75
Recent news: Trump might sanction germany, brexit turmoil and trade war.
Hoping for a resolved conflict from a USCHN trade war during the G20 Summit.
In the past 3 years price has...
Euro Zone is in a turmoil currently, according to the trend line, it is hitting the resistance, you might want to set it further slightly above the trendline.
Decent RR, as brexit continues to give bad headwinds which eventually will drag the euro down along.
Recently headwinds from the UK, has been affecting the pound substantially, making it impossible to climb.
The chances of a no deal brexit is around 15%, which means there is a good 85% there will be a extension by oct 2019, which will rally the pound.
The pound has been severely undervalued, it will be a good buy around 1.24 levels.
Fundementally speaking, the chances of trade deal being resolve is very likely, in order for trump to win the elections post 2020.
We are likely to see big spikes during G20 meeting, when trump meets with Xi.
Remember trump's idea is a lower dollar and a all time high stock market.
He wants to create an illusion that the world is going into recession to make...
Due to the recent trade wars, tariffs, gold has been spiking up, we all know gold spikes up when the market thinks that we are going into recession.
The reason why i say gold is going down, i honestly feel that the trade war will be resolved by trump during the G20 summit.
The reason why trump wants a trade war with china, he wants the feds to cut rate, so after a...