Here selling EURUSD ahead of the Brexit pantomime. We have completed the retrace since the ECB flows and it is time to start getting back to work on the sell-side in Europe. From a technical perspective, we are trading the remainder to the downside of the 2nd wave. Inside this wave 2 we have just completed an ABCDE pattern and it is time to break to the downside....
EUR/USD price broke again the resistance, we recommend a long entrance with a target of 1,133 / 1,138 with timing not exceeding 2-3 days. Then, once there is a rejection with daily confirmation, reposition short in the short period (a few weeks) with the target area between the 1.10 and the 1.08.. It is returning to the side channel that has been stalling since...
The main event on the foreign exchange market yesterday was the announcement of the outcome of the Bank of Canada meeting. For the fourth time, the Central Bank did not raise the rate. The decision is predictable and has been accounted for in the Canadian dollar price. But what was not considered? The fact that the Bank of Canada completely removed the mention of...
Looking to buy dips towards 1420/1380 with stop just below 1380. First target around 1,1600/50, second towards 1,20 GL
The price is preparing to break this laterality. The situation kept the price within the channel between support at 0.846 and resistance (both static and dynamic) identified respectively by 38.2% of Fibonacci retracement and by EMA20 weekly periods. If there was a confirmation of closure above this level, the price will tend to reach the subsequent static...
In case you missed it, the European Central Bank (ECB) recently underscored its dovish stance by sharing that downside risks have proven “somewhat longer lasting” than previously expected. Draghi and his gang also said that it’s ready to “adjust all its instruments” in case of weaker growth and inflation prospects. Last but not the least, it doesn’t look like...
Still short on this pair in spite of the fact that ECB on top of things and Brexit longer extension in the works. Economic data still weak and still will probably continue to be weak.
EURUSD is bouncing from the ascending trend line on daily time frame supporting the bullish view on the short term. SL should be placed under the 1.12 level. ECB will announce its rate decision tomorrow, although the inflation and growth risk are skewed to the downside but Q1 data is weak and could make Mario Draghi express his concern about economy losing its...
The price returned to test. The price returned to test the medium term key support at 123.8. If it were violated to the downside with closure below it would be a strongly bearish scenario. This would immediately lead it to the next static support at 122.6. Within a couple of sessions then could try to break it down. The pair could reach the next support area at...
The removal of 2019 hikes is worth highlighting because it does not fully support the story we are being told from macro data meaning the bar is set high for any further hikes. History tells us it’s very unusual for the Fed to pause for a long time in hiking cycles before resuming meaning this is likely the end of hikes in the cycle. See tradingview for a more...
On the monetary side, Fed taking the spotlight so let’s start digging into the details… Expecting the Fed to lower the “dots” signalling one hike in 2019 … a “one and done” approach. June seems unlikely now as the Fed has started to focus on inflation to keep equity markets happy. My base case is for a hike in December meaning the dollar looks underpriced at...
Soft macro data from France continues... Markets are likely to want to test ECB willingness to shift into easing mode again so the downside risks for 1.09 remain in play for EURUSD. This will carry the rest of the EUR board. A quick move in play here to kill the week off as we start the initial stages of a test in the lows at 0.745. Best of luck all
In line with other major global index, in the short term there is a retracement even by Italian index. The price reached the resistance area between 21450 and 21550 points. A break on the upside would have led to a continuation of this uptrend up to the next resistance zone located between 21700 and 21900 points. A rejected, ( because as we said "In the short term...
In line with other major global index, in the short term there is a retracement even by Italian index. The price reached the resistance area between 21450 and 21550 points. A break on the upside would have led to a continuation of this uptrend up to the next resistance zone located between 21700 and 21900 points. A rejected, ( because as we said "In the short term...
After some positive news from Moody’s last Friday on Italy the headlines are starting to fade making this morning a great opportunity to start getting short EURUSD and EURJPY around current levels. The ECB introduced a risk premium on the EUR which is only going to increase as the EZ outlook softens. I like playing EUR against pockets of USD strength as we have...
The latest rebound from the bottom of the channel has given a soft recovery. We are approaching key resistance areas and for those who are bearish on the USD you will need a constructive break above 1.13 to show anything meaningful in this recovery. I don't subscribe to the view that we have seen the highs in Dollar and expect these flows to continue well into...
TRADE TYPE: SELL WHEN THE MARKET OPENS AT AROUND 124.800 LEVEL STOP LOSS: 126.750 TAKE PROFIT: 123.000 RR: 1:1 TECHNICAL ANALYSIS With the trendline and channel on daily charts broken convincingly, the cross is aiming to test the next crucial support that lies in the 123.000 level! Price has already given the confirmation and the short trade can be executed...
Yesterday, Mario Draghi announced a new round of long-term and favorable conditions loans for the banking system. The new series of operations will be launched from September 2019 and will end in March 2021. The operations will be carried out every three months and each will have a two-year maturity. In addition, the ECB has confirmed what analysts had expected...