EURO-USD
EURUSD PATH PREDICTION (OCTOBER WEEK 1)I expect price to stay within the current rising channel and starting the week with an upside breakout due to the bullish flag. This chart will be used to place limits and stop loss appropriately. Wish me luck (;
EURUSD is my favourite pair to trade the channel and trading range.
Eur/Usd: Bearish SetupLast week we saw this pair test key support on Friday, with price remaining above it, many looked at this area as potentially oversold. This keeps the chances valid to resume the bullish move. with its targets beginning at "1.1300 - 1.1350" But taking into concideration the bearish pin bar "Daily" & "4H" we will need to see a beak bellow "1.1200 to confirm bearish momentum
GBPUSD - Brexit pendingWill be taking a long position on GBP/USD based on the following reasons:
- Bullish hammer candle on Weekly TF.
- Rejection of 0.786 fib
- Respected ascending trendline
You might be thinking that I am super crazy by taking this trade, especially with the referendum only a couple of days away, however I feel as though the UK will not be leaving the EU and this is purely my opinion. I am willing to take on a higher risk as the risk/reward ratio is a lot higher. I expect a 1500 pip move as a minimum, which would blow away some really key levels regardless of which way the vote goes.
If you are taking a similar trade and running the risk, ensure that your brokers either have a guaranteed stop loss or a NBP (negative balance protection) to ensure that you do not end up with a blown account.
Trade safe
EUR/USD in ever tightening range ahead of Greece Mark IIIThere may be trouble ahead...
Grexit is hiding in the shadows behind Brexit, but former Greek FinMin believes Grexit in 2016 is more likely than last July . Greece has a colossal amount of ECB debt obligations to meet in July. Negotiations and general turbulence look set to hit its peak in the month before, just as the Brexit vote is taking place.
But while theres moonlight and music, and love and romance...
Since 2015, EUR/USD has been rangebound between 1.05 and 1.16 (approx). Spot is trading close to the top of the range, and looks supported due to upward trend channel, and RSI trend higher and the 50W SMA sat snuggly below. A flattening of the 50 & 200W SMAs, and extended ranging in oversold territory of the slow stochastic, indicates a continuation of the status quo. Bare in mind that this is a weekly chart and there are still several hundred pips of juicy range to play within for now.
Lets face the music and dance...
In the longer term, I'd imagine that there are still some people who have been short EUR/USD from a long way down.
With Leave in the Brexit vote creeping into the lead, and the vote maybe influenced by the UK publics reactions to the handling of the Greek situation and any migrant/terrorist related chaos, it wouldn't surprise me if some people were taking money off the table, and readjusting positions ahead of June (Brexit vote) and July (Greek crisis), with a view to get short for a fresh push for parity again.