If eurusd breaks 1.1170 a fall of 100pips is coming...
The counting of the C wave down is almost complete, as yesterday we saw the wave v in progress. To be certain for the reaction to happen must wait for a daily closing of the first indication of reverse line trigger at 97.77
In our favorable scenario, DXY correction those days since the 104 high is unfolding as a wave 4 A-B-C correction, in order for this scenario to be validated we must see imminent reaction to the upside next week. USD must breach 98.10 level (high of sub-wave iv) where shorts must close at first, and more important level 99.85 would be a strong indication of the...
We are looking at a possible Elliot wave scenario, DXY is in the end of the possible wave B right now, and if new lows are not seen, we are gonna see the reversal in the form of wave C where usually are very aggressive and steep. Stay tuned!
After recent steep drop, we have the first signs of a reversal. Buy here with 10 pips sl below low.
After profit talking the rate is approaching big support levels, so we are looking to build a long position around 1.09 level, with target 1.10xx
market has touched the lower channel's trendline at 98.60, where major support exist. After the correction phase for the USD, there is no more steam to propel the downside, so expect next week to start reversing resend down move, to enter the longer term bullish wave.
EURUSD appreciated as expected after the French elections, really what happened as the result was exactly the same as the polls have predicted..! So this whole move is exaggerated and the rate is expected to begin turning down. Also huge resistance here and a few pips above 1.0950/60, so start to fade here with a 100pips stop. ECB meeting later this week.
As we have said in previous idea, DXY is trading at strong support levels, and if we combine the current fundamentals and news it might worth start building a long position, targeting 1-2 big figures up. Best ways to play it is long USDJPY, short GBPUSD and EURUSD
Euro seems to get going better, needs to break recent highs of 1.0675 in order to trigger the move to 1.08 levels. The main risk this week is french elections, where the latest polls show that Lepen is losing ground, so if this will be confirmed, EURUSD will be trading above 1.08 levels, as its not factored into the price yet.
If holds above wave A low, then its possible to see the wave 5 that will lead to previous highs...stay aside until further confirmation
H&S formation if triggered gives target 1.0670, place a stop at 1.0785.
Cable is on severe downtrend since Brexit vote last summer. We are in the middle of a corrective move of recent major drop, and in the start of the probably last 5th major circle wave from the move that started since July. Now we are either in the 1st of the final big 5th wave or just in the xyz-xyz correction. I don't wanna go in further detail, lets wait if we...
Decent resistance levels above, the longer term trend remains down, the rate moved up for no reason, just the same statement from one ecb member about the rates, so no reason to change the sentiment. Place a top above 1.0850. Target is 1.0350 at least.
The pair has not got any of the recent DXY move, so we can risk a trade here, with short term profit target 40-50 pips higher, the trigger would be a break above 114.10
After rejecting day lows, must see sharp move to the upside to keep the positive sentiment alive. Buy the dips mode on, short eurusd, gbpusd. I wouldnt recommend longs in usdjpy due to the risk off trade in europe...
I f the scenario is correct we must see an accelerated down-move if EU breaks 1.0510...