On December 8th 2015, the Mexican central bank reinstated its intervention program to add liquidity to the market every time volatility reach the 1.5% threshold. Since then, the Bank sold 200 millions u$ 8 times. Since the program was not enough, the bank decreased the threshold from 1.5% to 1% last week and also rescheduled all of its interest rate decision...
Funny because as I just put my first post in yesterday on the "All-time support/resistance level of UKOIL, I didn't think it was going to play a part already: I can't help to stop wonder: Is it a perfect short opportunity? It comes down to how strong the "All-time support" act as (new) resistance, and technically it presents itself as a textbook setup because of...
PRICE AT AN IMPORTANT KEY LEVEL AND JUST BOUNCED OFF THE RESISTANCE TURNED SUPPORT FORMING A DOUBLE BOTTOM. ALSO THIS KEY LEVEL IS IN CONFLUENCE WITH THE 0.5 FIB LEVEL. GBP AVERAGE HOURLY EARNINGS IS EXPECTED TO COME OUT BETTER AT 2.2% AND THE REASON WHY THIS IS IMPORTANT IS BECAUSE THE BOE (BANK OF ENGLAND) SAID THEY'LL BE MONITORING HOURLY EARNINGS DATA. IF...
WAITING FOR A BREAK OF TRIANGLE THEN TARGET 1.10. SNB (SWISS NATIONAL BANK) SAID THEY WANT EURCHF PAIR AT 1.10 SO CHANCES ARE SNB WILL INTERVENE TO TRY AND GET IT UP TO 1.10. GREAT RISK TO REWARD ASWELL 1:3
Good opportunity to get in long on this pullback as the resistance turned support lines up with the trendline. Wednesday is an important day for GBP because the average hourly earnings data will be coming out and the BOE said they.ll be concentrating on this data and this will determine weather or not they are gonna hike rates within 12 months. Labour data has...
Recently each time there has been a flag pattern it was followed by an impulse move to the upside. another flag pattern just formed so we could advance to the upside which is also in confluence with some nice resistance turned support structure level. Scenario 2 is If price breaks this important support level then the next level i will be looking at to get long is...
Price bounced off the 0.236 fib several times forming a evening star and then several bearish pinbar candlestick patterns in a row. This is indicating selling pressure, we could see price advance to the downside soon. My preference is a rally up to the 0.5 fib in confluence with some structure but advancing up to that level is looking less likely. RBA meeting on...
Used a fib on the leg down which started from yesterday. I.ll be looking at the fib levels to sell into rallies especially the 0.500 fib because there's also structure at this fib level. Technicals lining up with the fundamentals because on Tuesday we have RBA meeting and they could be dovish and possibly cut rates again which will weaken the Australian dollar...
Looks like we shot right through the 210-190 Demand Zone which looks very strong on long term demand. if we have a close below 210 our next Most Significant Demand Zone looks very promising A rally-base-rally confirmed by a retest on top of a rally-base-rally. Truly beautiful.
The chart below plots a wide variety of assets across classes and geographies since the end of October. Since then, virtually every asset class has rallied, with the exception of the Euro, the Yen, and oil. It's worth noting since the end of October, we've seen the following: The Bank of Japan's major stimulus announcement Stimulus talk from the ECB The onset...
Stay short EurGbp or, if you prefear, long GBP! Since the macro economic data started to improve, the pressure on the exchange rate has became stronger. The beginning of rates normalization will make the UK's currency more expansive versus the Euromoney. At the same time, the chart seems to confirm the bearish view: It is unlikely (given also the macro-analysis)...
We saw that the uptrend from the end of 2013 got destroyed just by one sentence: "We are going to manage the strenght of the Euro against the Dollar in June." The market got in a really overextended selling rally. Additional to that "market panic" positive US ecenomy values got released and Ukraine crisis destroyed stocks and indices of the european countries....