With this chart I would like to show you, why we potentially haven’t seen the "real" bottom of the market yet.
So today is an important day for the markets. After all the new help programs and emergency cuts by several central banks and governments from all country’s in the world, we will see jobless claims numbers released today.
And I think this number will...
Gold could potentially stand in front of a real turning point. For the first time this year I see potential for a bullish trend in gold. The momentum already changed from bearish to slightly bullish. Now I'm looking for an entry after a short retracement at about 1582.3 in long direction.
If we look back in history we also saw gold falling with the overall stock...
Many traders have some difficulties to identify clear trends for some forex pairs in higher timeframes at the moment. I can say that at the moment I see at least three trade ideas, which I have definitely on my watchlist related to my higher timeframe strategy.
If price stops at the key levels which I have identified in the last week and price also shows some...
Next week we'll see in which direction Natgas will continue it's movement.
All the fear about the worldwide spreading corona virus also struggled the CFD's of Natgas. If Natgas is able to hold the price above the trendline in H4 (or above the EMA 20 in the daily) we could see a bullish continuation. Pay attention to the news, cause bad facts about the virus could...
As you can see on the chart, it looks like we have seen a bearish breakout constellation. Over half a year we were in a bullish upside trend, which now got broken by price. First T/P should be around a 0.6 fib level.
This is a long term trade idea, so let price run and see if it works out.
Remember, trading is a business of probability.
The DXY is ath a key level at the moment. In the next couple of days we could potentially see in which direction the dollar will go further on.
If we see a bearish candle underneath the trendline closing, we could se some more dollar weakness.
The fundamentals doesn't look as good as the weeks before. There are more uncertainties of no trade deal and normally that means stronger safe haven currencies like the JPY or CHF.
On the technical perspective we can see clearly that we have downside momentum. I'm currently waiting for the 5th elliot wave to the downside.
You can see how price is forming a third touch on the trendline. I see two price targets at the first trendline and a longer term target at the 0.38 fib level.
We saw a strong USD in the last 2 weeks which fought back after a longer period of losing. -- see dollar index TVC:DXY
There are no further news for the GBP in the upcoming week. All eyes are on the...
EURUSD retraces at the 0.68 fib level last week. I guess that price will go up and gets rejected by the 0.38 fib level or at least at the 100 EMA in the daily.
At the end of the week we will see PMI of many european countries and Mrs. Lagarde is also speaking on friday.
So overall I think that we will see a bearish trend continuation till the end of the week at FX:EURUSD