He giveth and taketh away. Uncle MARIO laid another turd this morning sending the EURO straight down. The euro zone is in deep trouble and there is no reason to believe it will get better anytime soon. We are shorting pops.
In this chart I describe the current estimated trayectory for the Euro. I expect a brieft retracement, if we were to move above the last daily high, crossing the recent FOMC minutes release Key Level, and go to test the low volume resistance levels above, and eventually test the top FOMC key levels if said resistances fail to hold. It's possible to go long above...
still waiting for a pullback trigger to get long the Euro. We are expecting the Euro to pullback into the FOMC announcement this week. If we don't get the trigger by Tuesday then we will wait until AFTER the FOMC announcement.
Reasons for - We are clearly up trending - We are putting in higher highs and lower highs - We are getting nice swing highs and structure - Previous 4 hour candle was a bullish hammer (Bullish candle) - We have nice long wicks to the downside which signals more buying power - We are above key level of 0.75000 Daily - We put in a huge Bullish engulfing last...
Nothing happens until the ECB interest rate announcement on Thursday (21st). We are on the sidelines but will be watching the break areas for direction. BE PATIENT and if you decide to trade tomorrow...USE TRIGGERS!
Running Alpha Capital Markets Intelligence re-iterates its warning posted on Jan 11th, 2016 to Global Investors of an Imminent and Persistent Crash, specifically for Euro STOXX 50 Equity Index ( Symbol FEZ ) . The benchmark European index, the Euro STOXX 50 should easily retest the crash lows of 2009; USA equity markets do not have a crash signal, but will...
KEEPING THINGS SIMPLE ON THE EURUSD - BOREDOM BEFORE THE STORM ? (1 day, log scale) As said previously, the short-lived upward thrust for EUR into $1.17 has not been able to materialize. EURUSD is on the daily chart stil gyrating. Granted, 1.04/1.05 has again provided support, and so did the 1.105 provode resistance / did the 1.08 level provide support again....
As expected the rate hike in the US mark the last nail in the troll´s coffin... Finally, it is set to test the key support area (green box). Happy Trading!
Let's look at the really big picture again on the EUR/USD- the MONTHLY chart (log scale). Note: this is of course NOT suitable for trading. Beware. Usage: - protecting your savings (by going into USD) - determining the overall trend (which pressure prevails, when going down to lower time frames?) - as well as determining important support & resistance levels...
This is as toppish as it could possibly be. However, the troll might still be good for a quick visit of 1.10 - highly unlikely but possible. A more reasonable scenario is down. Back on track... Bull party is over!
The fall in European equities is set to continue as BCE Mario Draghi measures failed to impress investors. The biggest focus will be TODAY on the US non-farm payrolls report.
EU trolling at its best. The SMA50 on the daily should bring an end to this (latest)... Waiting for a re-short opp here!
It's a race to the bottom on the EURO. Draghi is pretty for his spin talk...we are on the side lines until Uncle Draghi is done speaking. He likes surprises and since we don't we will wait. If you are in a Euro trade lock in gains and place stops.
Looking at the 4h chart, one can only conclude that the EURO will continue dooming down. It would be great to get some shorts filled in the orange box before riding it straight down into the ultimate key support area between 1.04624 - 1.04124. After a short bounce it´ll break down as well, so we can meet 1.02040 in early December. Happy Trading!
The troll is still in bearmode providing just another reasonable shorting opportunity here. Lots of lines on the way down defining possible supports. Happy trading!
EU bulls are being so silly again. It is almost unreal...