Today on the open the price opened with a gap down from the close on Friday, mainly due to fundamental reasons. Our view on the pair's trend still has not changed so we are still bullish for this week too. Since we believe that the pair is moving down for fundamental reasons, we expect the price to get support at M_PP at 110.11 after the news are priced in and...
The pair is in a clear downtrend according to the daily chart, this way having just created in the last 2-3 days the current lower high and now is expected to move down and break the M_S1 support which will make way for the creation of the new lower low. The bearish mood is confirmed also by the strong engulfing bearish candle formed on Thursday, so we will be...
The pair continued it's bearish mood during last week, similar to the last days of the week before that. The pair now as it seems from the chart is in a freefall, so we will be looking to take positions in accordance with this assumption. Since the price broke last week the M_PP levels at 1.31252, we will be looking for a test of this area then enter short...
Last week after the pair reached and retested the M_PP level, we were expecting a strong move downwards to break the support at the bottom of the range where the pair is trading for the last few weeks. What we got was a very strong bearish move for more than 90 pips but then it again found support and was unable to break it at the bottom of the horizontal channel...
After reaching the top of the move two weeks ago the pair then retraced down with a very strong bearish move. On last week there was a more moderate bearish mood with price trading also for some time in a narrow range as we can see from the 4 hours chart. The trend is not very clear, as for the short term we think that the bears are still in control of the market,...