Again, here we are on a crazy FOMC day. Thus far the pair has been holding strong with bullish players. I am looking for it to break long after FOMC minutes
Price action broke from consolidation, and hovered underneath resistance at $333. Instead of trending lower, price action climbed the ascending trend line and rallied to $306. As said many times, these rallies are almost sold. This one was no exception. Technically speaking, traders should have exited their trades after the ADX ticked lower, which is the first...
EURUSD is setting up for a bigger move either way. The FOMC meeting will probably have a big impact on this decision. The price is generally oscillating in a triangle since late 2008. This would imply more bullish months from here, back up to the downtrending line of Highs. The decider for a long or short will be the next 1-2 weeks as you can see the price is...
Nothing too fancy here on the EURJPY just a simple structure based trade. Looking left you can see that the market has had trouble breaking this resistance level as of late. Combine that with the RSI being oversold and the existence of a double top featuring RSI featuring bearish divergence and it's more than enough for me to take a shot on. This top was also a...
It looks like everyone is trying to pick the bottom on EUR/USD in last few days, is there any chance that last week lows at 1,336 level will work as an bottom for few next weeks ? Just to clarify I'm bearish on EUR/USD in Longer term but we really might be starting an corection phase here and now. Techs : * 1,335 - 1,34 Level is an Huge demand zone at daily and...
Im pretty sure that the announcemt of lowering the QE additional by 15 billion $ and the positive forecast about the economy in the second quarter year will push the price down. Last FOMC protocol had its impact on the following day where the gold price rose from 1272 to 1320. Maybe this time it will happen again but in the other direction. The reason why this...