Europe
Bye Bye EURO !! ( CRASH )The levels on the euro's chart against the dollar are highly worrisome.
If the European Union does not quickly raise interest rates more aggressively, we could see the Euro fall to levels of €1=$1 or even lower at €0.8=$1.
We note that it has been in a bearish channel since about 2005, which it has been respecting in a demanding manner. At the same time we have no nearby supports that can hold the price, so the HIGHEST probability is to fall. The market structure predicts an abrupt and rapid fall towards these levels, probably without giving us any retracement, as happened in the past.
We have already broken the bullish guideline within the bearish channel and this is not good news, since there is no " REAL SUPPORT " by market structure ( I REPEAT ) The area where it is right now, is NOT a SUPPORT !!! .
Europeans can be affected by this, losing 20% of their wealth added to inflation added to the uncontrolled growth of taxes. :( . Best of luck to All, hope it helps to get a clean picture of the future of the EURO.
BUY EURUSDJust an idea and trade at your own risk.
EURUSD on the monthly timeframe still remains bearish, but on the daily and weekly timeframes correction may be underway after reaching the demand zone and the lower channel of the downtrend at area 1.05.
Correction may be underway back to the supply zone and upper channel of the downtrend at 1.09-1.10.
New possible resistance level after losing the trendAfter breaking out of the upper trend channel where VEUR was trading for the last year we find a new lateral channel that finds support around 34.6 Eur and might find a resistance level around 36.95.
Looking at the volume profile on this sideways channel we can see how it is clearly P shaped, usually a sign that consensus exits on the upper part of the channel.
This could indicate that a price around 34.6 could be a great entry for a bullish investor. Personally i would wait for a breakout in the channel either to the upside or the downside. It is convinient to look at the fundamentals behind this ETF, the energyu crisis y hitting europe heavely specially the UK, the 21,7% of the holdings of this etf are located in the latter country and it is experiencing a lot of uncertanity around supply chains and energy supply.
Personally i'll wait for a breakout and a change on the situation in Europe towards year's end, and depending of its direction i would adjust my position.
EUR/USD SO BAD RIGHT NOW, WHAT WILL HAPPEN ¿? DANGEROUS ZONEI really think we could see EUR under USD next months if this down trend continues!!
I am personally taking a little long in EUR/USD at these levels and lowers (buy orders at 1.04/1.00/0.95) because my spends are in EUR but my investments in USD, so if price EUR/USD go to 1=1 again... Is it an opportunity to swap USD (markets assets) to EUR (bank/cash) for me... Its okay :)
If you have USD in cash/bank and you wanna buy EUR cheaper, just wait a little more because I believe, its very possible to see EUR/USD under 1.00 this year!! Anyway, NOT FINANCIAL ADVICE. Always take your owns risks and keep calm. PURA VIDA
BUY EURUSDjust an idea and trade at your own risk.
EURUSD reached a strong demand zone around 1.5-1.6 area and the lower down channel line on the daily and weekly timeframes.
It is very important for the month to close near the 1.09-1.10 area for the next bullish movements, if it fails next is below parity and into the 0.89 area.
XAUUSD DAILY BIAS : B.E.A.R.I.S.H 🐻🔱 GOLD TRADE IDEA 🔱
BIAS: Mixed Bearish
FUNDAMENTAL BIAS: Bearish
Gold can see bearish offers maintained amid the heightened pace & urgency to raise interest rates by central banks towards policy normalisation are likely to overshadow the drag from the war in eastern Europe.
TECHNICAL BIAS: Bearish
Expecting price to find support at 1915 & head toward 1936. If this breaks - 1941 or 1955 where next swing high resistance is.