I am not a fundamental trader but I do love when a major economic news event plays an impact on the market environment. This entire month the markets have been very slow and choppy so I stood out of swing trades due to the whipsaw behavior. This week has been the slowest following last weeks low movement with fed speeches on the economic calendar almost every...
Yesterday EURUSD broke the previous low and reached 1,0631. The downside move keep going but we’ll be looking for exhaustion. There will be opportunities upon correction towards 1,0700 and pullback. The next support is 1,0609, where it is advisable to lower the risk of the sells and to look for reversal.
Yesterday during the news we saw fluctuations within 50 pips without clear direction. ECB interest rate is coming today. Bear in mind that there will be press conference 30 minutes after the news. We’re watching for breakout of yesterdays move. A key resistance remains the levels around 1,0785.
Yesterday, EURUSD continued its correction and headed towards the resistance zone. By the end of the week, data on US inflation and interest rates from the ECB are due. Before the important news, it is not advisable to take a high risk and it is better to wait. We have determined zones on all major assets and are monitoring development!
EURUSD continues holding around 1,0700 and no still no entry grounds. US inflation data is coming on Wednesday and ECB interest rate on Thursday. Upon continuation of the correction resistance levels will be 1,0780 and 1,0846. We will be looking for new trades after the news upon good ratio.
Technical Analysis and Outlook: The Eurodollar drifted lower in this week's trading, completing our Outer Currency Dip of 1.070. The continuation to the extension of the Pivotal Down targets 1.062 and 1.050 is in progress; however, an intermediate rebound Retest to Mean Res 1.080 is possible.
Technical Analysis and Outlook: The Eurodollar rebounded off to our Mean Res 1.090 and some more; however, as a solid ongoing pivotal move, sentiment mode is dictating the designated target of the Outer Currency Dip 1.070 is inevitable.
The euro's mini-rally has run out of steam. EUR/USD climbed 0.80% over the past two days but is trading in negative territory on Wednesday. In the European session, the euro is trading at 1.0867, down 0.11%. The markets will be keeping a close eye on European inflation releases today and Thursday. Germany releases the July CPI report later today, with a consensus...
The euro has posted limited gains at the start of the trading week. In the North American session, EUR/USD is trading at 1.0803, up 0.08%. The week ended on a sour note as German Ifo Business Climate fell for a fourth straight month in August to 85.7, down from an upwardly revised 87.4 and shy of the market consensus of 86.7. Germany's GDP flatlined in the second...
Following Powell's statement at the annual Jackson Hole symposium – “We are prepared to raise rates further if appropriate and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective.” – markets seem more inclined towards expecting another rate hike in the US. This move, in our analysis,...
Technical Analysis and Outlook: This week's price action of the Eurodollar turned out to be nothing but down modish as projected, by fulfilling our Outer Currency Dip of 1.087 and drifting to the next Outer Currency Dip of 1.070. However, the dead-cat rebound to Mean Res 1.090 should not be ignored.
The euro has edged lower on Thursday. In the European session, EUR/USD is trading at 1.0851, down 0.11%. On the data calendar, there are no releases from the eurozone. The US releases unemployment claims and durable goods orders and we could see some movement from EUR/USD in the North American session. On Friday, Germany releases Ifo Business Climate. The index...
Technical Analysis and Outlook: As per Trade Selecter projection, Bitcoin's prices have plummeted, destroying Outer Coin Dip 28900, 28200, and 26900, respectively, and completing Outer Coin Dip 25600. The downward trend continues with Mean Sup 25100 and Next Outer Coin Dip 24200, but a strong rebound is possible with Mean Res 27800 as a target.
Technical Analysis and Outlook: This week, the price action of the Eurodollar remained stagnant between the Mean Res 1.102 and Mean Sup 1.094. Thursday's reversal tips its hand to continue the pivotal down-move mode with the target, Outer Currency Dip 1.087. However, another jump toward the Mean Res 1.102 level is also possible in this rigged market.
Even writing this I’m thinking it could be a crazy idea with USD strength in play, but let’s see... I think we’ll see some early weakness from the USD before a momentum shift that will see DXY reverse up (maybe by end of the week). I think the EURO is still looking strong, bouncing back from the falling following the ECB rate hike pause. ECB are hawkish around...
Technical Analysis and Outlook: In this week's session, the Eurodollar has decreased to our Outer Currency Dip of 1.087. This has resulted in a very weak Mean Res of 1.102. However, Friday's reversal could indicate a potential extension of the dead cat bounce to Mean Res 1.109, while the Mean Sup of 1.094 is lingering below.
Christine Lagarde's remarks about an open-minded ECB, coupled with a robust labor market and persistently high inflation in the eurozone, continue to provide the ECB with reasons to lean towards hiking. While headline inflation may be trending downwards, core inflation remains steadfast in the eurozone. Following the meeting on July 27, the ECB raised interest...
Technical Analysis and Outlook: During this week's session, the Eurodollar decreased and reached our Mean Support level at 1.100 and lower, which suggests that it may continue to decline toward the Outer Currency Dip of 1.087. It could also rise and retest the Mean Resistance level at 1.109 to eliminate weak long positions. It's essential to consider this upward...