buy @1022.11
This is also a nice alterntive for traders who are worried about USD strength as usually Gold suffers when USD gets strong. Not with this pair, at least to a less extent.
Pick your entry and sell at D completions of these advanced patterns respectively! I will enter them all but with reduced risk for the two cypher patterns (turquiose and green ones) and use normal risk for the bat (violet).
We have lots of fun stuff going on here. Price is heading into previous structure and resistance zone which have proven itself several times in the past. We have a bearish gartley just about to reach its D completion - which in turns comes very close to the previous, broken, bullish trendline which also should act as resistance.
Looking at the hourly...
ECB nowotny reiterated senior member official sentiments regarding the situation with Italian banks unsurprisingly saying people "Should not over dramatise situation regarding Italian Banks". He also hawkish said that the Brexit impact forecasted on the EUROZONE economy would be less than the IMF forecasts. Perhaps the most important sentiment though was that...
The Gross underpricing of ECB and FOMC Monetary Policy Changes - A fully-priced medium-term equilibrium Lower coming?
EURUSD:
*Short EURUSD 3m-12m Duration: 1/2lots @1.11 - 1.07TP1; 1.04-5TP2 1.01TP3
1. On Decemeber 2nd the ECB cut their rate by 10bps to 0.05%, paradoxically this actually caused EURUSD to rally higher. Thus this is a mispricing as...
IMO the ECB minutes were the most dovish/ clearly directed statements out of the ECB for several months. Before this, and in the past several speakers comments, sentiment has been towards the hawkish/ stale side, citing "ECB has done enough" as the main rhetoric.
The June Minutes however show a renewed positioning of the ECB, where they clearly imply they are...
This 2-part article will look at the practical application of correlations in trading and show how to use correlation inferences to exploit the statistical advantages they offer.
On the 4h time frame, the highest day-tradable timeframe imo we see EUR$ has an exclusively negative and almost 1for1 correlation with the dollar index (or dollar "market"), however,...
Learn 2 trade like a PRO - boafx.com - As of yesturdays analysis we did get a pull back but much bigger than we anticipated with the Euro taking on safe haven bids. However we are stating to reject the delining trend line within the rising channel again. It might be worthe waiting for the next candle to make a new low but for those with a bigger risk appetite you...
Learn 2 trade like a PRO for FREE! boafx.com - the Fontera milk auction price was upgrade last week which caused a rally on the NZD You can see the break out of the rising channel on the EURNZD currency pair and the lower highs inside the channel before the breakout. The engulfing candle confirms the downside is underway and I only wish I had seen this at that...
Learn 2 trade like a pro - boafx.com - After the Dovish comments coming from the ECB yesturday and the likely hood that the UK will raise rates around the same time as the Fed we are using the opportunity to pull back to previous support (now resistance) to reenter for a sell
