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EXY trade ideas

EXY: Shaky & potential H&S pattern......as I have already written in a couple of other trades. The EUR pretends to be strong, but many problems are not solved and won´t be solved within the next months (Turkey (Why Turkey? Who do you think bought all the Turkish bonds: European Banks), Italy… etc.). ECB will likely not change the current course (QE, interest…). First Signals are turning on: EMA50 is ready to move below EMA200 (bulls are currently trying to avoid it but they failed last week, they might try it again in the forthcoming weeks). We have a stable downward trend since mid of 2017. A break-out which lasted only 6 months and which provided us this wonderful H&S pattern. Bulls&Bears will fight within the next 1-3 weeks providing us with a lot of trading opportunities especially for strong majors. This is not an investment advise this is just my personal opinion. Ride safe guys.
TVC:EXYShort
by Chimbarosa
DXY -- SHORT ARGUMENTBREAKDOWN OF THE SCREEN SHOT ABOVE ---------------------------------------------------------- DXY INDEX ( PURPLE LINE GRAPH ) AND EURO INDEX ( WHITE LINE GRAPH ) EUR AND USD ARE CLEARLY POSITIVELY CORRELATED. BOTH MIRROR IMAGES OF EACH OTHER.. ( LONG TERM WEEKLY CHART SINCE 2009 ) - THE DXY HAS GAINED GROUND WHILE THE EURO HAS STEADILY DECLINED. THIS IS OUTLINED IN BOTH THE GREEN AND RED CHANNELS DEPICTED RESPECTIVELY. WITHIN SUCH A HIGH TIME FRAME, AS WE ARE AWARE, ARE THE RUNS AND PULL BACKS WE ARE SO FAMILIAR WITH. ITS THIS THAT CAUSES FOR ME CONCERN FOR THE DXY GAINING GROUND. FROM THE CHART DISPLAYED WE SEEM TO BE AT AN AREA OF RESISTANCE NOW FOR THE DXY, EFFECTIVELY A DOUBLE TOP PATTERN AT BROKEN SUPPORT NOW RESISTANCE. I WOULD BE TARGETING THE BOTTOM OF THE CHANNEL FOR THE DXY. IF THE IDEA DOES WORK, GIVEN THE POSITIVE CORRELATION BETWEEN THE TWO CURRENCIES, AN EQUAL SIZE RUN TO THE UP SIDE SHOULD BE EVIDENT ON THE EURO. IE - A MOVE TOWARDS THE TOP OF ITS CHANNEL. I SEE ROOM FOR THE EURO TO FALL FURTHER YET, BUT UPON REACHING THE SUPPORT LEVEL, I THINK WE SEE THE BREAK DOWN IN THE USD OCCURRING AND THE MOVE LOWER. A LARGE RISK:REWARD FOR THOSE THAT LOOK FOR TRADES ON THE WEEKLY AND PLAY THEM OUT ON THE DAILY CHART. LOWER TIME FRAME TRADERS STILL HAVE TIME AND ROOM FOR MOVES TO GET LONG...BUT, I WOULD BE KEEPING AN EYE ON THE WEEKLY CHART FOR THE LARGER SENTIMENT DIRECTION, AND A CHANGE IN STRATEGY TO TRADE EURUSD. SUMMARY ----------------------- THE EASY PATH FOR THE EURO SEEMS TO BE UPWARDS, WHILE FOR THE DXY THE LEAST RESISTANCE TO MOVEMENT LOOKS TO BE DOWNWARDS.
TVC:EXYShort
by UnknownUnicorn493766
Several arguments in favor of euro purchasesThe recent decline of the euro is the result of several fundamental reasons. The elections in Italy and the formation of the Italian government (populists who do not support the idea of the united Europe) has caused many doubts about the prospects of not only the growth of the euro, but also the fate of the euro as it is (from the Italy we even heard statements about exit from the euro area and the rejection from the euro). In addition, a series of rather weak macroeconomic statistics from Europe also contributed to the disappointment of investors over a single European currency. The result of this was a full-fledged correctional movement in the prices for the euro. But it is a corrective movement, not a downward trend. If you look at the daily chart of the Euro Index (EURO CURRENCY INDEX), you can see that the base was and is still there an upward trend, which began its formation more than a year ago. The construction of the Fibonacci retracement grid allows you to see that the current values of the Euro Index have come close to the zone 38.2, which is traditionally considered as one of the key levels of correction. Considering that in the 117 area the Euro Index has already formed serious technical levels (4 times during the current trend there were reversals of the price movement), we get a very strong confirmation signal in favor of the fact that from the current values the probability of the euro rebound is extremely high. In addition, the strongest daily oversold of the Euro Index (see figure above) is another additional signal in favor of the fact that correction in the euro is just around the corner. As for the fundamental negativity, we consider the populist statements of the Italian populists what they really are - a shaking of the air without any material consequences. That is, there is no global threat to the euro. Thus, we consider the current prices for the euro is almost ideal for purchases, since the likelihood of the growth of the euro from here is very high. At the same time, risks for buying euro are rather insignificant (about 1% of the price), but the potential profit can be up to 10% (without leverage). That is, the profit / risk ratio is extremely attractive. Our recommendation is the purchase of the euro.
TVC:EXYShort
by Trade24Fx
EURO broke through 200 EMAAfter looking at euro / dollar charts since 1972, I realized that the most recent euro high was a pullback (backtesting) to yearly trendline which it broke in the end of 2014. The old yearly trendline became a resistance now. This thing is called the change of polarity. And now we are just starting to drop back from it down again. Expect a further bearish euro rally next days to the next fib level / previous high. The same concerns CHF and GBP as those currensie follow EURO pretty close.
TVC:EXYShort
by ICFX