Hello everyone,
As we can see COVID19 is disturbed whole world, supply and demand, many people lost their jobs but from the other side, investors and traders profit mostly on COVID 19 with of course, their knowledge. But from point of view i think Euro have a big potential for raise. From fundamental point of view we can see that three bigest nation of Euro zone who is using Euro as main currency have a big fall down of infected for example Germany, France and Spain. You can´t lean on smaller countrys of EU because they don´t have a strong economy and big money flow like these 3 countrys. So if we can see a big drop of infected in these countrys we can thinking forward and say: okay they will start to reopen soon and EU economy will be in upward momentum. From the other side Australia we can say have won the battle against COVID19 because they reported in couple of weeks their average is about 7 people is infected every day. But if we can see a big drop of infected in Australia and after that we saw this week at pair EUR/AUD a increase price from 1.61472 to 1.63392 to our resistance line(at the moment) we need to say: okay something is going on, and that is the fact COVID19 vaccine is very close to us. From tommorow vaccination is will start tommorow at UK so all eyes will be staring at them. But that is good news for Australia because Australia is the second biggest exporter of Copper, and for EU because headquarter of BioNTechnis is at Germany and we can assume that Germany will get among the first vaccine if they get approval from EU agencies drug and food. Tehnical point of view we can see a little bit of volatility at our resistance line(at the moment) which I assume that price will start going upward because we can see a triangle with doji candlestick before bullish candlestick. At stohastich oscilator we can see a bullish hidden which is good indicator with confirmation of the price(doji candlestick and cofirmation of bullish candlestick). Entry price will be when our candlestick break a resistance line and after that our SL will be under triangle pattern. We have two solution for TP. First one will be at our triangle pattern from upper side and second TP will be at price of 1.64916
P.S Watch out for chinese data today at 04.00 am(ETC+1) of export because we know that export of China have a good influence on EU economy.
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.
As we can see COVID19 is disturbed whole world, supply and demand, many people lost their jobs but from the other side, investors and traders profit mostly on COVID 19 with of course, their knowledge. But from point of view i think Euro have a big potential for raise. From fundamental point of view we can see that three bigest nation of Euro zone who is using Euro as main currency have a big fall down of infected for example Germany, France and Spain. You can´t lean on smaller countrys of EU because they don´t have a strong economy and big money flow like these 3 countrys. So if we can see a big drop of infected in these countrys we can thinking forward and say: okay they will start to reopen soon and EU economy will be in upward momentum. From the other side Australia we can say have won the battle against COVID19 because they reported in couple of weeks their average is about 7 people is infected every day. But if we can see a big drop of infected in Australia and after that we saw this week at pair EUR/AUD a increase price from 1.61472 to 1.63392 to our resistance line(at the moment) we need to say: okay something is going on, and that is the fact COVID19 vaccine is very close to us. From tommorow vaccination is will start tommorow at UK so all eyes will be staring at them. But that is good news for Australia because Australia is the second biggest exporter of Copper, and for EU because headquarter of BioNTechnis is at Germany and we can assume that Germany will get among the first vaccine if they get approval from EU agencies drug and food. Tehnical point of view we can see a little bit of volatility at our resistance line(at the moment) which I assume that price will start going upward because we can see a triangle with doji candlestick before bullish candlestick. At stohastich oscilator we can see a bullish hidden which is good indicator with confirmation of the price(doji candlestick and cofirmation of bullish candlestick). Entry price will be when our candlestick break a resistance line and after that our SL will be under triangle pattern. We have two solution for TP. First one will be at our triangle pattern from upper side and second TP will be at price of 1.64916
P.S Watch out for chinese data today at 04.00 am(ETC+1) of export because we know that export of China have a good influence on EU economy.
WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not Financial advice.