Central Banks became market makers and the markets direction is pending on CB's President Statement. Normal market is being made by investors, buyers sellers. Anyway, since the markets is analyzing the statement of European Central Bank officials, all the investors are almost convinced that ECB President will act in line with his statement early this month. On...
There is a clear fight between BULL and Bear on the EURUSD Pair. Ichimoku shows that it is 50%-50% with a little favor for the Bear if we do observe initial signals, such as the lagging span inside the cloud and oriented downward. If Bear wins the fight, it is to confirm that ECB is not bluffing, market beleieve in a reaction of Draghi on June 4th. If Bulls...
This morning 9 AM CET( central European Time) , the market went up and down and the race between bull and bear appears to end at that stage in favor of the BULL. The twist of the trend has started. In Early hours with a 1H and 2H Ichi, the signal were clear but was not confirmed at H4. Now there is a initial move on a 4H basis but it needs to be confirmed and...
In my view, political agenda , economic agenda and the behaviour of EURO against USD will give the direction and the impetus for USDJPY. On a purely mechanical point of view, BoJ is still printing a huge amount of Yen comparing to the calendar of FED where Yellen is still sticking to the tapering. On the Other hand, ECB President Draghi, will make his statement...
With all the talk of a possible rate cut in June, EURUSD technicals paint a different picture. What would make the EURUSD to rally to 1.4 - 1.41 levels? Better than expected EMU data or a weaker USD or ECB's actions not convincing enough for the markets? Only time will tell. Regardless of what the media says, USD fundamentals weren't that impressive post Winter....
Friends, Recently, the EZ fundamentals have been weighed down by Europe's second largest economy, when today France posted economic data bringing deflationary pressures to the forefront. What's worth reframing here, is that this week's significant decline in the EURUSD Forex leader occurred in spite of Germany's positive data - First question that comes to mind...
EURUSD is a very mechanical pair, reacting to macroeconomic situation and sharp on political statement. Baring in mind the situation of indicators and the picture, we may be on the eve of a formation of a double bottom. Political situation in Europe, recent statements of ECB President Draghi , statements that had an effect on the market but on a long run, no one...
I stumbled upon EURNOK over some chance discussions with some members here couple of weeks ago. I took on a short position back then and ever since I kept adding to my positions. This pair also gives +ve rollovers for shorts. This is the weekly chart, which validates the short positions. A descending triangle and RSI divergence on the weekly charts. I don't...
Friends, TRADE PROFILE: Only three days ago, I took the opportunity of a long entry based on a daily chart which confirmed support near the 87.350 level. A layered analysis comprising my prop predictive analysis and forecasting favored a bull directional bias with a series of bullish targets of moderate-probability quality. Despite being a technical analyst, I...
Friends, As a new week opens, a bird's eye view of the Forex market might be best appreciated if taken on the back of the US Dollar Index (DXY). SOME FUNDAMENTAL POINTS AND OPINION: At this point, fundamentals are expecting to carry the greenback upwards, on the general assumption that the Fed will continue to taper. We also discussed earlier weaknesses in...
Despite continuous effort from various ECB members to talk it lower, the Euro remains strong. This led ECB President Draghi to state over the weekend that “the European Central Bank will ease monetary policy further if the euro keeps strengthening”. EUR/USD gapped 50 pips lower on the open as a result of this, but is now back above 1.3850. Traders have been...
Friends, At this point, markets seem to have leveled off. In fact, USD started to rally, as it gains strength against most other currencies, except against the EURUSD, whose high of 1.38981 has remained unchallenged even after US markets closed. A look at a reverse correlated USDCHF, my predictive analysis and forecasting system remains neutral for the time...