Right, it is difficult to analyse this pair when Super Mario is having a speech, or a conference, or is delivering some sort of an official statement that day.
He is having a speech today, at 14:30 BST, which could potentially create some volatility for everyone's Stops to be triggered. That's how I tend to see all these speeches. Probably, someone, or the majority, have the correct positions right now on EURUSD, so the speech will give the opportunity to wipe them all out, if the Stops are tight.
Anyway... at moment, not taking the speech into consideration, it looks Bearish. If we look at the chart, we can see that we have that approximately 45 degree trend line going upwards, which is looking very attractive for it to be broken. This would be ideal, so that we could test the 2016 May high.
Also, we have that very little Head-and-Shooulders formation, that is looking quite interesting. I think this could be another great confirmation of a move to the downside. It is a small H-a-S so that noone would see it. And when the market will go down, then everybody will go like: "Aaaaa... there was that little H-a-S... Sneaky... Why I didn't see it earlier", or something like that.
As always, be careful and keep an eye on the price action!
He is having a speech today, at 14:30 BST, which could potentially create some volatility for everyone's Stops to be triggered. That's how I tend to see all these speeches. Probably, someone, or the majority, have the correct positions right now on EURUSD, so the speech will give the opportunity to wipe them all out, if the Stops are tight.
Anyway... at moment, not taking the speech into consideration, it looks Bearish. If we look at the chart, we can see that we have that approximately 45 degree trend line going upwards, which is looking very attractive for it to be broken. This would be ideal, so that we could test the 2016 May high.
Also, we have that very little Head-and-Shooulders formation, that is looking quite interesting. I think this could be another great confirmation of a move to the downside. It is a small H-a-S so that noone would see it. And when the market will go down, then everybody will go like: "Aaaaa... there was that little H-a-S... Sneaky... Why I didn't see it earlier", or something like that.
As always, be careful and keep an eye on the price action!