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EURGBP: Is Parity InevitableEURGBP Daily – Is Parity Inevitable? Earlier today the Euro broke the psychological $1.200 handle for the first time in 2 years whilst and it is now heading towards an all time high against the British Pound. At the start of the year, analysts had predicted further weakening for the Euro. We are now at the end of August and those predictions could not have been more wrong with the Euro rallying strongly. Despite being overvalued by most indicators, the Euro has continued to strengthen and this is expected to carry on. One of the biggest reasons for this is that the common currency is increasing its appeal to investors and traders as a safe haven. When analysts talk about safe haven currencies, they are usually referring to the US Dollar, Japanese Yen or the Swiss Franc. However, over the past months, demand for the dollar and yen during risk off sentiments have been lower than usual. For the Dollar, this is due to political uncertainty and the conflict with North Korea. Meanwhile, with the Yen, it is due to the risk from North Korea. As we saw yesterday, a missile fired into the Pacific Ocean by North Korea, flew within Japanese airspace, prompting, Japanese official to warn residents who could have been affected. The majority of global risk has been from the two factors mentioned here, which means that the most attractive safe haven currency left would be the Swiss Franc. However, the current stability in Europe and anticipation of the ECB winding down its large QE programme, has made the Euro a great currency for both investors and traders. The Euro strength has been mentioned as a concern by the ECB but they have not indicated plans to take any action just yet. Now that EURUSD has broken above, $1.200, traders should expect an ECB official to address this in the coming days but it is still unlikely for them to intervene. The CFTC commitment of traders reports last week also showed an increase in net long positions on the Euro, also suggesting that the rally is set to continue. However, analysts have mentioned that the Euro strength will weigh down on European companies as it becomes more expensive to import from the Eurozone, with the DAX dropping to 5 month lows yesterday. In the UK, the biggest fundamental factor continue to be Brexit but a lack of progress in talks has actually helped the pound to strengthen. The EUs Juckner is not happy with the position papers handed to the EU from the UK government. UK officials are complaining that the EU are simply being stubborn and currently negotiations look as if they are at a stalemate. The United Kingdom would like the EU to be more flexible and talk about their future relationship, whilst at the same time talking about the separation process. However, the EU are adamant that they will not talk about any future relationship until the terms of their divorce with the UK are resolved. It seems that the biggest hurdle in all of this is the agreement on how much the settlement bill should be, with Brexit secretary Davis saying that the UK will only pay what it is legally obliged to. The current situation is helping to support the pound at the moment but with the BoE not showing any signs of hawkishness, it is highly likely that any appreciation in the Pound is simply a retracement. Today, EURGBP has broken its 2016 high and we now expect it to reach its all time high at around 0.9800. Following this, Brexit makes it seem inevitable that this pair will reach parity but it will also depend on how long it takes to reach these levels and what impact the Euro strength is having on the Eurozone economy. We will be looking for buys on this pair, ideally after some sort of retracement. However, if we do not get a retracement, we will still looking to enter a smaller position and add on to this along the way.
Long
by priyesh
7.26.17 | BAC | 30 min. BreakoutBreakout on the cup and handle diverged and formed a small double top which is now reversing with the breakout of a falling wedge. I expect this to rally for the rest of the day and gap up in the morning following a rally for the rest of the day tomorrow. The fed meeting today did not leave investors with any surprise's and Bank stocks do not have anything to fear based on the latest policy meeting. On the uptick BAC has announced a dividend increase of 85% $.07 to $.13 to go into affect at he beginning of September.
NYSE:BACLong
by TrilogyAnalysis
ETHUSD Perspective And Levels: 345 Target Near. Stop Break Even.ETHUSD Update: 315 resistance breaks and subdegreee Wave 3 is in play just as I wrote about in my previous report. For those of you who go long in the 280s and 90s, 345 is my first target and 374 is my second target. Clearly a bullish catalyst has sparked the rally, at this point I do not even know what the catalyst is, I can just tell by the vertical nature of this price action. BTC is stagnant which is proving that these markets are competing for order flow and money rotates in and out of them on a selective basis compared to the"follow the leader" relationship I was looking to identify in previous reports. Now it's about managing the trade. 345 is my first target which I will sell half of my position. The 350 resistance is a target I have been talking about for a number of reports and I stick to my plan. The other half of the position I will let ride and look to sell 25% of it at the 374 level which is the upper portion of the resistance zone. And if that target is reached, then I will let my small portion ride until I determine my next target. The upcoming resistance zone is proportional to the .618 of the previous broad bearish swing. At the same time, I am now adjusting my stop to break even so that this trade no longer carries any risk. It is possible to give back profit, but that is not loss, that is profit. So my stop is now adjusted to 295. Also the 306 to 315 area which served as such a tough resistance is now a support level based on inversion. In terms of proportion, a retrace from current levels should not overlap this price area. Something to keep in mind if a minor retrace unfolds from here. As I mentioned in my previous report, Wave 3's are the ones that wow the market. And they are never the shortest wave in terms of the Elliott Wave rules. Once this wave completes, the next retrace will offer one more buying opportunity to complete the 5th wave of the larger degree Wave 5. I will be able to evaluate targets and risk once the new subdegree 4 is in place. In summary, this market is in a subdegree Wave 3 which is no surprise and has finally stolen the order flow spot light. I expect my first target of 345 to be reached today and if 350 breaks, the 380 area is likely to be reached in the next day or so as well. My stop has been moved to breakeven which means my trade carries no risk it's all about management from here. Price action analysis. It works. I would like to thank the Tradingview community for your support and appreciation, as of yesterday I have reached over 1k followers. Questions and comments welcome.
BITFINEX:ETHUSDLong
by MarcPMarkets
64
Entry Points for Bitcoin PullbackBitcoin is pulling back. Great timing to enter the rally. Question is WHERE exactly? Here are some potential entry points . In no particular order: $1,900: Confirmed support/resistance level (once). $2,200: Mildly confirmed resistance level and 38.2% Fibonacci Retracement level. $1,700: Pinpointed sup/res confirmation and 61.8% Fib level. The strongest in my opinion. $1,300: Resistance level. $900: 6-month low and support. Very unlikely to drop below that. I wrote this short summary today: jimmakos.com Remember, risk management is way more important than entry points. Know how (much) to trade.
BITFINEX:BTCUSD
by JimMakos
1
SILVER BULLI have been working on a strategy involving cycles, structure & price. I've had great results with currency pairs & Gold.. Except for when news is released and price manipulation, that's when things don't work.. This is what my strategy is indicating for Silver. I am still in the works of truly understanding if this is more than a theory, so don't bite me if I'm wrong. Potential Silver bull from 17.20 til 21-22.00. ~Thank you for taking the time to view my chart~ I wish an abundance of prosperity & endless blessings for you all.
FX:XAGUSDLong
by positivepips
NZDUSD and a Confluence of SupportsOANDA:NZDUSD looks like its forming a nice floor where a lot of key technical levels and indicators are at. 4H Moving Averages: OANDA:NZDUSD was able to get above key moving averages in the 4H timeframe and it has held well so far. Weekly Higher Lows Trendline: Even after some attempts of breaking the trendline it has held so far and looks like it was able to get back above it The Daily 200MA should provide decent resistance but its also possible that it might still break through it to test the 0.73 level once more Entry: 0.70237 Stop: 0.697 Profit: (tp1) 0.7137 (tp2) 0.73368 Any feedbacks are appreciated!
Long
by SimpleMillennialAverage
2
CYH- Fallen angel type Momentum Long from $9.83 to $12.13 & highCYH seems a very good long setup. It had a wonderful rally since we first found it around $5. Now it seems bouncing above the moving averages & getting ready for the second phase of run. * Trade Criteria * Date First Found- February 28, 2017 Pattern/Why- Fallen angel; Momentum Long Entry Target Criteria- break above $9.83 Exit Target Criteria- 1st Target $10.93, 2nd target $12.13 & higher Stop Loss Criteria- N/A Please check back for Trade updates. (Note: Trade update is little delayed here.)
NYSE:CYHLong
by AcornWealthCorp
MYGN - Flag formation Momentum long from $18 or higher MYGN is another nice Flag formation with beautiful moneyflow accumulation. Anything close to $18 would be a good entry point or break of current label * Trade Criteria * Date First Found- February 19, 2017 Pattern/Why- Flag formation Entry Target Criteria- Near $18 or Break of $18.67 Exit Target Criteria- Momentum Stop Loss Criteria- $16.83 Please check back for Trade updates. (Note: Trade update is little delayed here.)
NASDAQ:MYGNLong
by AcornWealthCorp