Hi guys, It looks like bearish momentum started to form once again. DXY looks very strong and institutions were adding EUR shorts aggressively for the last 4 weeks. There are a lot of liquidity zones to fill so it is very likely to be slow movement down. However, we have a lot of news left this week, so strong price action could occur after EU CPI or US PCE. I...
Hey guys, Very interesting situation with EUR/USD. Fundamentally , I would say situation is more neutral to negative, most of the possible rate cuts are priced in already for USD, and there is current pressure on EUR, since they have already significantly declining inflation (more than expected). I don't see any possible significant negative events for USD,...
It seems to me that recent bull run is not very well supported by institutions. Considering their positioning (shorts prevail) and changing retail bias to longing this pair, I suggest some possibility of downside movement to 1.057 or lower. Just don't see how we can go higher in this environment. Good luck.
Hi guys, Looks like we are in consolidation/take profit phase. Very possible long to 1.08-1.09, depends on many political and financial data... Some longs are added for the last few weeks by institutions and very strong retail short bias for this pair. I think we will be still consolidating for some period of time since most of the short positions opened by...
Very possible continuation of appreciation of this pair. I think the best way to enter on pull back around 1.08-1.084 or at 1.0915 if we break above. Very likely PCE and jobs date will be softened. If so, we might be heading to 1.10-1.11. If combined with still strong inflation in EU, 1.126 very likely. Overall, I expect going back and forth, and eventually...
Very possible long to 1.09 unit tomorrow speeches of Powell and Lagarde. I expect wild rides on this pair tomorrow. If you look at positioning of hedge funds, it seems that they still expect bullish reaction. However we can have drop down to 1.08 or lower to have more liquidity and crash all longs that retail guys have already.
Hi guys. Just a few thoughts about USDCAD. It looks like a good opportunity to short this pair, it took a break from falling down with news about possible Iran deal. However, USOIL is heading to $140-150 and FED is going to increase the rate only for 25 basis points (Russian invasion of Ukraine). So it is very likely short term increase in risk sentiment combined...
Hi guys, hope you are doing well. Just a few thoughts on USDCAD. This pair had finished one of the patterns I mentioned before, however uprising channel was broken downside. So I closed my long positions (this pair was not able to overtake 1.28), in my opinion USDCAD is now in the neutral area with no clear trend. Looking at WTI, inflation data, job data, and...
Hi guys, so previous short position was closed at 1.2665 and now we can see formed uprising channel. Possible good long opportunity 1.285-1.29. I would assume that OPEC meeting tomorrow would probably hold this pair from visiting previous high 1.296, however in longer run we can expect 1.295-1.3 in very near future. Also keep in mind, PMI and unemployment data...