Ahead of the #NFP week, U.S dollar is set to make one of two choices ( Remain dead or Fight back). Will NFP report trigger the move for June #tightening? A quick read from yours truly should have us guided going forward…. As always, your views, charts are welcome.>
This is actually a follow up to previous charts on the euro. Having made a monstrous rally to the key 1.1268 price handle, bears jumped in to tame the bullish energy. Pairs should continue to trade lower in the coming weeks to the key 1.1050 region where a reaction is at least expected.
From the daily technical standpoint, EURO’s resiliency is unmatched presently. The weekly bearish outside range left two weeks ago on the back of Emmanuel Macron’s France presidential victory was a classic bear trap. But for our ardent readers, the bullish move wasn’t a surprise as we consistently updated our previous piece. Going forward, we expect the EURO to be...
USDCAD seems to have met an important rocky place at the high it made on friday. With outside day reversal candle on daily frame, an imminent corrective decline can't be ruled out. However, above 1.3793 invalidates our bearish bias.
Going into Sunday’s Final French Presidential election, what would Macro victory mean for Euro and what if there’s an upset and Le pen wears the crown? How will the EURO react at market open? Read my thoughts and as always your views welcome.
GBPJPY looks quite set for a corrective decline. 144.15 is the year open. A daily close below this level should have 140.00 and 139.00 as magnetic attraction zone. Reckon that the bigger picture remain bullish towards 164.00 region. But for the month, 140-139.00 is the level to watch on a corrective decline. 145.50 invalidates bias.
NZDUSD had a rough ride for the most part of last week. The decline was quite aggressive and leaves no room for a proper retracement play at all. However, for the new trading month, NZDUSD seems to have stabilized after hitting the low of 0.6848 last week. Going forward, a corrective bounce is in the offing which should have focus shifts to the 0.6950 region. i...