fxstraderomi

fxstraderomi

Bearish below 1.0964 The spot failed to take out 1.0964 (50% Fib of Mar-May rally). The Fib resistance almost coincides with 1.0963 (76.4% of May-June rally). The daily chart also shows repeated failure to take out 1.0964, after having closed below the same on July 15th. The spot also struggled to sustain above 10-DMA located at 1.0941. The daily RSI too is...

fxstraderomi

The EUR bulls appear have got the second wind after the EUR/USD pair bounced off from the support on the hourly chart at 1.0869 (previous resistance). On the 15-minute chart, we also see a minor inverted head and shoulder pattern, with the neckline at 1.0912. The pair is on the verge of witnessing a breakout, which could push the spot to 1.0954 . A 15-min candle...

fxstraderomi

The FX markets have been dull so far this week as we lacked a major fundamental trigger out of the Europe and US. The Grexit scenario has taken a back seat for a while, although the Greek bond yield curve is still inverted (Grexit could make a comeback anytime). The only major story unfolding this week, is about the demoralized Gold bulls, after the metal fell to...

fxstraderomi

The rally in the EUR/USD pair stalled at 1.0968 on Tuesday, but profit taking pushed the spot back to 1.0924. Another attempt was made to take out 1.0963-1.0964, before falling it ran into offers today and fell back to 1.0925 levels. Consequently, we have a double top formation (1.0965) on the hourly chart, with the spot trading around 1.0924 (neckline). In...

fxstraderomi

The GBP/USD pair has witnessed an upside breakout from the sideways channel seen on the hourly charts, ahead of the BOE minuted which are expected to show a unanimous vote in favour of maintaining the interest rates at record lows. Slim chance of a hawkish surprise In my opinion, the Bank of England (BOE) minutes could throw a hawkish surprise today – a vote...

fxstraderomi

The EUR/USD clocked a high of 1.0878, before turning lower 1.0857. An hourly close below 1.0869 could open doors for a sell-off to 1.0811-1.08, under which the pair could drop to 1.07985. The current candle on the hourly chart also represents the failure to take out the hourly 100-MA currently located at 1.0872. I prefer entering short around 1.0860 for target...

fxstraderomi

The GBP/USD spot was rejected at the hourly 50-MA; pushing the pair below 1.5549 (50% of June rally, hourly 200-MA) and 1.5538-1.5540 (inverted head and shoulder extended neckline). Only an hourly close below 1.5538 would open doors for a sell-off to 1.55 levels. The dip below 1.5538 hs already happened, but a failure to see an hourly close below the same...