I have bearish sentiment due to
- the pair has reached the top and currently in declining stage
- the 30 weeks MA looks set to slope downward
- risk on
i will take a short position below 22 with the target at 20
I have employed Stan Weinstein stage analysis for EURJPY on weekly chart, and i have observed the potential for the pair to head upward.
- The chart is currently crossing 30 weeks moving average
- The volume has improved recently
- The relative strength has also improved.
i therefore biased for strength in EUR against JPY in the medium term
I am positioning to buy CADJPY because of
> Potential bullishness in Oil price which is a plus for CAD
> Global improvement in containing COVID-19 which implies more economies will be opened and investors will start to dump safe haven like JPY.
I am not ruling out the weak legdown due to Hongkong Riots and Minneapolis Riots which will likely worry investors and...
With improvement of risk there might be fund flow out from Gold to other risk assets. This might pull back the advancement in the price of gold in the medium term. I see huge opportunity to sell gold at the current level with taking profit at 1700, 1690 and 1680.
The Euro has experiencing a weakening against Swiss Franc since late 2019. Partly because of growing risk-off sentiment in the Euro area and the outbreak of Covid-19 pandemic which have caused the surge in demand for safe havens (Gold, Yen, Chf, and Usd).
With the likelihood of improvement in risk condition and the worry for Swiss National Bank that the...
In line with promising PMI numbers, vaccine hopes, reconstruction plans might start to put hopes to Germany and Euro economy and ultimately lead to good performance of the stock markets across Euro zone. However, there has been number of mixed signals which might pull the index to the region around 10,700.
But, i am still optimistic that the index is potentially...
The Bitcoin price is currently on a very important technical level which position it for a rapid price change in the near future.
If the price manages to break the current level, there is a possibility for it to retest $13,000 level.
But the chart patterns identified, suggested a more bearish move is much expected within the short horizon to the level around $ 6,500