RCtrader2

RCtrader2

Technically, there is room for the EURAUD to dive downward, especially if it develops a bearish harmonic pattern on the daily chart. Fundamentally, it may depend on the RBA interest rate decision and statement, which is to be released on Tuesday. And employment data on Thursday. Fingers crossed. :)

RCtrader2 Updated 

Interest Rates announcements from both US and EU central banks are expected next week. The rates could be left unchanged now that inflation has cooled. But will the dollar strengthen in the dawn of these events and during them? Share your thoughts.

RCtrader2 Updated 

The eurusd pair has developed bearish divergence on both the weekly and the daily chart and my assumption is that it could create an H&S on the daily chart, now that what appears to be the left shoulder and head can be noticed. Additional confirmation will occur once the PA crosses the dashed trendline.

RCtrader2 Updated 

We've been having a bearish BAT on the weekly chart since October last year. Who knows, perhaps it yields some more?

RCtrader2 Updated 

I think we are going to see positive economic data in the US this week. That is more home sales, strong GDP growth, and higher income and spending than last month which will take everyone by surprise. Fingers crossed. :)

RCtrader2 Updated 

The bearish divergence on the daily chart is still in place. It looks like the PA made a higher high at 1.04080 and the sentiment switched from bullish to neutral. Perhaps, some bearish correction is needed before the PA moves higher.

RCtrader2 Updated 

There is confirmed bearish divergence and a bearish ABCD on the daily chart. Let's see where this goes. :)

RCtrader2 Updated 

I am still not believing in bull power, so I am trying my chances with the ABCD on H4. And a tiny SL just in case it goes for more.

RCtrader2 Updated 

I am positive we are going to hit the year-low on audusd pretty soon. A pretty late entry one could say, but there is no need to enter with a large one. :)

RCtrader2 Updated 

I was thinking that fundamentally the eurusd should hover around parity, now that Europe is tied to the war in Ukraine, the energy crisis, high inflation, and the looming recession. At the same time, it makes sense to believe that the uncertainty of US elections pushed the dollar lower, but that is to change once we get the results.

RCtrader2 Updated 

A bearish White Swan on the daily chart should technically push the price under 1.000 again. Bearish divergence has been detected as well.

RCtrader2 Updated 

I think the price needs to make an additional wave in favour of CAD before the US dollar starts raging again. This projection falls inside the monthly candle.

RCtrader2 Updated 

I believe the euro is about to make another rebound and so I am long. What do you guys think? Post your opinions below.

RCtrader2 Updated 

Inflation in the USA is soaring and the FED is taking steps to address this. As long as the ECB keeps its dovish stance towards tapering QE or increasing interest rates, the direction will remain unchanged. The price might create some corrective waves but I am confident we will see 1.0500 by the end of May 2022.

RCtrader2 Updated 

The PA reached the upper limit of the Bollinger Bands on D1 and created a bearish harmonic pattern on H1. The price should at least reach the TP1 on the chart on its way down before it continues going up again.

RCtrader2 Updated 

Bullish Butterfly on H1 is a reversal pattern, I believe traders can aim between 100 and 200 pips. There are harmonic patterns on pairs like usdcad, audusd and eurusd as well, which strengthen the bullish outlook on gbpusd.

RCtrader2 Updated 

FX:USDCAD price action is close to a (1D) trendline and so it could either break it or be rejected. SL is 30-40 pips away.

RCtrader2 Updated 

The Ukrainians are sturdy in the defence of their territory, identity and future, and so are not giving in. The US and EU are gradually assisting the ravaged nation with military equipment, humanitarian aid and constant rebuke of the aggressor - Putin and his acolytes. It's time we see some rebound in the euro and sterling pound.