We have been triggered into Eu once the daily formed a shooting star reversal candle of the 50% fib confirming a lower high and C leg. Scaling into the smaller time frames we have spotted a CTL break and double top of the 50% fib level with our order just underneath on the 4hr.
good short opportunity again presenting itself on the euro. a lower close candle after several rejections now of the 38.2 fib as mentioned on my last post on this pair. extended targets could provide an even more lucrative trade
today i want to show you an opportunity that i will be looking to over the next few days.
As you can see in the chart, euro has reached new lows last week, breaking the strong daily resistance that held for a long time. Now price is retesting the resistance level (that could become support) in confluence with a 382 Fibonacci retracement.
In the next...
The ECB press conference disappointed when Mario Draghi failed to mention any form of tapering which the market was looking to hear. Instead a reiteration of the continuation of QE to March 2017 and beyond if necessary. This dissapointment caused the Euro to sell off and we expect it to remain under pressure on the lead upto the Feds Rate...
The U.S. Federal Reserve left interest rates unchanged on Wednesday but strongly signalled it could still tighten monetary policy by the end of this year as the labour market improved further (source Reuters).
Yet again, this has left the market floundering with no real long-term direction for the USD. Technical, we look to be forming a short-term ascending...
Good morning traders,
I trust you are all enjoying your time off, whilst I have some time I decided to do another eur/$ chart, as most of you already know my incredible bearish outlook on the pair still stands;
The bearish break looks similar to that found in August 2015 suggesting a move toward the trend lows at 1.052xx
The ECB appears to be on hold for now...