Technical - multi year lows + longterm support + RSI divergance
Fundamentally - Lagarde has jawboned euro into depression. Eur is ove sold. Cad is over bought bcas of BOC and oil. Correction is due.
Fundamentally - Lagarde has jawboned euro into depression. Eur is ove sold. Cad is over bought bcas of BOC and oil. Correction is due.
Trade active:
Upside intact - 1.4300 to 1.4400 are supply zones. Maybe choppy. Maitain upside target 1.4735 when 1.4400 gives away. Timewise a week or so.
Trade active:
Maitaining upside target 1.4735/1.48000 when 1.4400 gives away. 1.43000 and 1.44000 are tough nut to crack. Oil, bitcoin, equity and over sold eur conidition could help the push higher. Watching cosely.
Trade active:
Maintaining upside target of 1.4735; however, be aware of risks that lay ahead including opec+ meeting and covid
Trade active:
Book some profit here and re-enter when possible when pull back occures
Trade active:
1.44 reached and as expect some big supply is coming in. Book some profit and reenter maybe at 1.43 or 1.435 . Market is very volatile. Mindful on position sizes.
Comment:
Comment: Data - Tue - 30 Nov - EUR CPI and CAD GDP
- Fri - 3 Dec - CAD Employment
Risk - new COVID 19 fears , equity hawks , above data risk, opec+ supply reductions , iran oil flow
news/data risk are 50 - 50
I hold the same view as above. Target of 1.47/1.475/1.48 is reachable. However, makerts are highly leveraged and volitate so prices will be choppy. I will ride the wave if eur cpi is as expected and cad gdp is lower than expected.
Finally - beaware of turn around tuesday and very large sharp moves in cad pairs . Need to play safe - opportunities will always present itself (These are actually notes to myself :) )
- Fri - 3 Dec - CAD Employment
Risk - new COVID 19 fears , equity hawks , above data risk, opec+ supply reductions , iran oil flow
news/data risk are 50 - 50
I hold the same view as above. Target of 1.47/1.475/1.48 is reachable. However, makerts are highly leveraged and volitate so prices will be choppy. I will ride the wave if eur cpi is as expected and cad gdp is lower than expected.
Finally - beaware of turn around tuesday and very large sharp moves in cad pairs . Need to play safe - opportunities will always present itself (These are actually notes to myself :) )
Trade active:
I believe 1.44 has been convincingly broken and now trading friday highs.
Next target could be most likely be 1.47/1.48 region. Possibly in the next few days.
However, will not be totally supriesed to see the price fall and retest 1.44 before shooting up.
There is likely hood of FED Powell walking back some of the hawishness today which will boost euro.
best of luk
Next target could be most likely be 1.47/1.48 region. Possibly in the next few days.
However, will not be totally supriesed to see the price fall and retest 1.44 before shooting up.
There is likely hood of FED Powell walking back some of the hawishness today which will boost euro.
best of luk
Comment:
Trade active:
Conditions are ideal for rise of EUR, weak us equity and weak oil.
EURCAD is grinding slowly higher. I would expect a flush higher which will help reach the tragets. The slow grinding can also indicate conditions are changing in the back ground and possibility of reverseal. If reverses, i would expect 1.44 to provide support.
Ideally, would book most of the profits and have some positions running.
EURCAD is grinding slowly higher. I would expect a flush higher which will help reach the tragets. The slow grinding can also indicate conditions are changing in the back ground and possibility of reverseal. If reverses, i would expect 1.44 to provide support.
Ideally, would book most of the profits and have some positions running.
Trade active:
Very good bounce from 1.44, reinforces the support. Next target likely to upside at 1.47/1.48
News - we have BOC on Wednesday - likley all BOC good news are baked in. Market may view any hawish signal good opp. to sell CAD. Need to wait and watch.
US equity - feeling the heat. possibility of another leg to downside to 200MA at 4350 for s&p. Aany downward move will be good for higher EURCAD
I believe equity sell of is due to fed and not due to covid. As such i feel there could be more downside to equity next week i.e. support to safe havens , jpy, eur, usd chf.
Once the flush to the down side is completed - there will be good opportunities to go long aud, nzd against jyp and usd late next week . Something i keeping a close watch on.
News - we have BOC on Wednesday - likley all BOC good news are baked in. Market may view any hawish signal good opp. to sell CAD. Need to wait and watch.
US equity - feeling the heat. possibility of another leg to downside to 200MA at 4350 for s&p. Aany downward move will be good for higher EURCAD
I believe equity sell of is due to fed and not due to covid. As such i feel there could be more downside to equity next week i.e. support to safe havens , jpy, eur, usd chf.
Once the flush to the down side is completed - there will be good opportunities to go long aud, nzd against jyp and usd late next week . Something i keeping a close watch on.
Comment:
3rd test of 1.44 region. Also price now sitting over 50DMA. All bullish signs; however, BOC tomorrow and US equity /VIX will influence the movements. Need to wait and watch.
Trade active:
Strong region 1.44 to come into play. BOC today to be on the watch list.
Comment:
Technically, looks bullish.
Price action suggest, dosen't want to go down anymore. Looking for upside.
Equity market and bitcoin feeling the heat - supportive for this pair.
Wed news - FOMC and CAD CPI. Both events are priced in. FOMC reducing bond purchases and CAD CPI hot.
Thur news - ECB, High time Largade walks back on 'transitory' inflation after powell's flip. Hence will be bullish for EUR. Won't be suprised if she plays with new words to keep the party going.
Remember, these are just ideas, manage your risk accordingly
Price action suggest, dosen't want to go down anymore. Looking for upside.
Equity market and bitcoin feeling the heat - supportive for this pair.
Wed news - FOMC and CAD CPI. Both events are priced in. FOMC reducing bond purchases and CAD CPI hot.
Thur news - ECB, High time Largade walks back on 'transitory' inflation after powell's flip. Hence will be bullish for EUR. Won't be suprised if she plays with new words to keep the party going.
Remember, these are just ideas, manage your risk accordingly
Trade active:
Volatility is expected to be very high today with ECB on the block. General view is that ECB will maintain dovish stance. On contrary, I believe ECB will have to change the tune on 'transitory' story and follow FED. ECB may not come out strongly and spook the market but provide subtle message that tightening is coming. In my view EUR may have upside after some choppy moves, but I could be wrong!
Trade active:
Now 1.4480 is turning out to be a very strong zone for this pair. There seems to momentum, next upside target of 1.4700 is reachable.
There are several + and - i am looking out for:
+ equity and risk in general feeling the heat, S&P likely to drift lower to 200DMA
+ ECB 'slighlty' hawish
+ Stop in EURUSD selling
- santa clauss rally in equity, if happens will have deep pullback on this pair
Holidays approaching, volume will be light, price movements will be large. Both ways. Next week best to trim positions whenever possible and avoid new positions.
Merry christmas and happy year
There are several + and - i am looking out for:
+ equity and risk in general feeling the heat, S&P likely to drift lower to 200DMA
+ ECB 'slighlty' hawish
+ Stop in EURUSD selling
- santa clauss rally in equity, if happens will have deep pullback on this pair
Holidays approaching, volume will be light, price movements will be large. Both ways. Next week best to trim positions whenever possible and avoid new positions.
Merry christmas and happy year
Trade closed: target reached:
Close all the positions.
There may be more upside but my confidance is low. So closing all my positions.
There may be more upside but my confidance is low. So closing all my positions.
- broken 1.44 and price reached nerly 1.45.
- price trading above 100ma on daily chart
- above 200ma on 4h and 1h charts
- strong region at 1.47 to 1.48 will likely pull the price up.
Fundamental -
- covid fears - variant of concern will support eur and other safe havens
- equity and oil have totally ignored covid and priced in smooth sailing, therefore possibility of correction likely, the dominos could fall very quickly
- likley of EUR strong againts USD
RISK -
There will be a positive spin on covid news. Equity and oil markets hawks are on the sidelines waiting to get in. Relief rally expected early next week most likely tuesday. This pose a risk to the pair. might experiece sharp pull back presenting a buying opportunities.