JazzForex

JazzForex

Sorry for late publication, I just entered the short. The idea is to take advantage of the traditionally safe-haven Yen that is gaining in strength, which is likely to weigh on this pair. Explanation of technicals can be found in the chart. UPDATE: This pair followed the script to a T, price dropped the total distance, as indicated in the chart, for a full profit...

JazzForex

With the ECB being almost solely focused on raising inflation to 2% and recent data showing it is way below their target (and it has in fact dipped), this pair will continue to be under selling pressure, driving it down further. The slide in oil prices will only increase this pressure. Fact is that the euro zone is struggling. Interest rates have been cut to...

JazzForex

This pair showed a small consolidation on Friday, after 6 consecutive days of price gains led to an overbought RSI indicator and a shooting star candle indicating a pull back. A hawkish FED and a dovish BoJ led the way to an uneven fight between the bulls and the bears for the last weeks, with the bulls having the upper hand since mid October. Structure always...

JazzForex

Like many euro-pairs, EURGBP dropped in price to close the week. It failed to reach a ´higher high´ and the price kept trading within the channel, reconfirming the general trend. On the short term, I believe the price will drop some more, as the € weakened due to Draghi´s language last Friday (he stated that more needs to be done to raise inflation). If this pair...

JazzForex

After reaching a multiyear high last Thursday, with an RSI indicating overbought and a shooting star candle indicating an imminent drop in price, the dovish tone of Draghi´s language Friday morning immediately weakened the €, resulting in a significant drop for this pair. It fell over 100 pips during his speech and about the same amount during the rest of the day!...

JazzForex

Three times in a row, rising trend channels broke when crossing the dominant bearish trend line. Therefore a break to the downside is expected, continuing this overall trend (support can be found around 1.20). This is in line with the fundamentals (referring to Draghi´s language on Friday). I am planning to short this pair on Monday, although I will wait for...