The Market shows high volatility the past days. It returns to the mean on a downward trend. As pert he arrow, we expect that it will return to day to the 61% Fibo level which on the chart Fibo tool is indicated as 0.38% level because of the automatic placement by Trading View.
Market News/ Driver Today: FOMC Member Williams Speaks at 16:15 (GMT+2) Clearly there is a triangle formation after large moves for the pair. The question is what happens after the breakout. Potential moves are indicated by the arrows Estimated potential Stop Levels: If breaks upwards: 132.2 If breaks downwards: 130.5
There is a triangle formation that just broke. Potential moves downward as indicated by the arrows.
I am using a 3 hour timeframe this time in order to highlight the fact that pair moved significantly low within a very short period of time. However, the important part is that the price move switched the path from being above the MA30 to moving below it. A retracement is expected even if the significant market move downwards took place 3rd Feb. In order for...
Market Updates: The market has been crazy over the last few days because of the important figure releases. Especially for the Non-Farm Employment Change 517K positive change, which was way more than the expected. There is no signal of a retracement because the market seems to show signals of a further down move. It is start of the week and we are not expecting...
The break of 1.343 could further drive the USDCAD up to the next resistance 1.347.
Market News Yesterday: Important to note that the major drivers of the markets these days are the important figure releases, the economic indicators. At 14:00 BOE Monetary Policy Report and the Official Bank Rate pushed the GBPUSD and EURUSD downwards, over 100 pips. Today we see both of those pairs to slowdown. This might be an opportunity for going long...
Market News - The most Important release of the month 15:30 Non-Farm Employment Change and Unemployment Rate Due to the fact that the investors are waiting for the important figures during the afternoon session we do not expect high volatility now. There is a triangle formation for this pair. if it breaks then the market will move in one direction either up or...