Today we have the first ECB of 2020. Price at confirmed support and near trend line.
Dovish outlook from Lagarde would trigger short trade on the break of support and trend line.
Alternatively any hawkishness would make a bounce from here, though it is less probable.
After losing 67% from all time highs. The stock is showing promising potential for reversal.
Inverse H&S pattern with divergence and a clean break of the down trend line. Now just above the 200SMA.
1st target is to close the gap.
Riding on the positive news Apple approaching resistance zone again, pre-market is at 213.28 at the time of writing. Today non-farm and Powell speech could decide the next direction for the markets for next week. Great opportunity for a long and short option. If we break the red resistance zone, then Apple will be retesting All time high level soon.
Price at support level spiked up on positive Australian CPI. Now could be forming an inverse head and shoulders pattern. Divergence on indicators. Today's FED meeting should cut rates and weaken dollar (as Trump wants). This could be the trigger as the neckline breaks to go long. Good Luck!
At today's FED meeting a cut of 25 basis points is expected in response to the slow in economic growth and stunted inflation. This could be the signal that the markets are topping and we are due for a big correction. Currently Dow at all time high with support zone holding at 27000. A break of the support and 200SMA could signal a short as the market top....
Major FOMC day. FED rates expected to be cut by .25. The major event is the press conference from Jerome Powell and the rhetoric of future monetary policy. Elliott wave analysis suggests that we are still in the big B wave correction at 61.8%. Lowering rates and uncertainty in global economy should make Powell more dovish. If that's the case then we should be...
Amazing week ahead of us. A historic summit between US and North Korea is the main focus of investors. Expected deal to completely denuclearise the Korean peninsula is the main goal of Trump's team. If the deal goes through, risk-on mood should push risk currencies up, especially after disastrous G7 meeting and tensions rising between Trump and allies.
After making another touch on the trend line and testing support, a break would be a good opportunity to go short, first target at 83, 38% retracement.
Stop above the recent swing give a good risk-reward.
Technical set up shows a break and retest of the trend line. Now a good support level is in the way, it was a strong resistance before as well. Only ISM PMI data from US released later today, it could affect price.
The 50 SMA is in the way, so if you wish for more confirmation, you could enter after price breaks through it, though risk-reward will be worse as a...
After a big sell off in cable, due to poor economic data in UK and cancelled rate hike in May, as well as, dollar strength, GBPUSD hit a major support and is currently having a pullback.
Next potential sell off continuation is with a break of 1.32 level, which is also the 50% fib retracement, targeting the next support area above 1.30.
The pair is very...