Now that the FED minutes and Powell's conference is almost over, it is fully clear, that they are not going to taper or raise rates anytime soon, Powell is ready to tolerate higher inflation for longer period of time. Next obvious price targets are 1.1880 and 1.19. Tomorrow's GDP might surprise to the upside, but any drop will be an opportunity to buy, same goes...
EURUSD for past 4 days have failed to break below 1.1750 and also failed to move up. There have been series of bad news coming from Europe, resurgence of Covid, flooding, yesterday's dovish ECB minutes (as always) and euro still hasn't moved lower. I start to get a feeling that this might be a bottom for some time. If today's manufacturing and services data isn't...
Yesterday's sharp rebound was surprising. Price solidly broke thru Day 200 SMA and is heading towards hourly 200 SMA. I will look for a bounce there. ECB meeting today could muddy up the price action, since EURGBP is tightly connected to GBPUSD. At this point there is no clear/strong technical levels to watch. Will have to carefully scalp from big levels and big...
Pound did drop below 1.36 but couldn't sustain the drop and climbed back to 1.3642 and is around 1.3625 as of now. There is a small channel forming that basically awaits a push in either direction. At this point (and in summer liquidity is as usual lower and major moves happen less often) market is careful, sentiment is changing by hours. Market may get into...
Yesterday GBPUSD fell through MA 200 at 1.3694 and fell through double bottom at 1.3670. This is quite significant, since there isn't any clear stops below that could slow or stop a fall towards round number of 1.3. It might as well make a small stop at 1.35, pound does like it's round numbers. This drop helps confirm double top at 1.4245. For this move to...
Till tomorrow European morning euro is most likely be contained between these two lines (now at 1.1762 and 1.1822). Because of a renewed "risk off" sentiment that has taken to stocks and bonds, and hourly topside technical MA resistance, it is more likely that pair will slowly move lower. If during Asian session euro will not surprise with an up move i will wait...
