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EURUSD: price pulls back 61.8% before bouncing off the A-A channel


On Thursday the 16th of November, trading on the euro/dollar pair closed down. The rate twice approached the zone of 1.1757 – 1.1759, but failed to break through. News from the US didn’t do sellers any good either. The US House of Representatives yesterday passed a tax reform bill proposed by the Trump administration. Markets were slow to react to the news given that the Senate has put forward an alternative proposal, which involves deferring tax cuts for another year. As such, it’s unclear as of yet what the final legislation will look like.



From the 1.1770 mark, the euro should have continued its decline until 1.1710, but the political news held it up. More on this later.

Views: 24 | Added by: mik | Date: 17.11.2017 | Comments (0)

EURUSD: daily pin bar model suggests a decline ahead


On Wednesday the 15th of November, trading on the euro/dollar pair closed down to form a pin bar or shooting start model on the daily timeframe. The euro opened up in the European session. In the space of three hours, the rate jumped 68 pips to 1.1853. After the publication of US data, buyers shifted the intraday high to 1.1860.


Views: 19 | Added by: mik | Date: 16.11.2017 | Comments (0)

EURUSD: U3 MA line providing resistance


On Tuesday the 14th of November, trading on the euro/dollar pair closed up at around 1.18, with an intraday range of 140 pips. The euro rose thanks to positive data from Germany and the Eurozone, growth on the euro crosses, and a decline in US 10Y bond yields. The dollar showed some mixed dynamics against the majors as there were a lot of important news releases.


Views: 22 | Added by: mik | Date: 15.11.2017 | Comments (0)

EURUSD: high volatility expected due to a busy day of economic events


On Monday the 13th of November, trading on the euro/dollar pair closed 11 pips up. The euro dropped during the first half of the day before going on to mount a recovery. The rebound from the low of 1.1637 was partially down to growth on the euro crosses. The biggest mover among these in terms of growth was the euro/pound cross.



Views: 27 | Added by: mik | Date: 14.11.2017 | Comments (0)

EURUSD: return to the 45th degree expected


On Friday the 10th of November, trading on the euro/dollar pair closed slightly up. The US dollar showed some mixed dynamics against the majors before the weekend. It dropped against the pound and euro while rising against the rest.



The dollar came under pressure due to uncertainty over the US’s tax reform program. It received support, however, from growth in US 10Y bond yields. On Friday, the rate closed at 1.1663, with an intraday high of 1.1678 and a low of 1.1623.

Views: 31 | Added by: mik | Date: 13.11.2017 | Comments (0)

EURUSD: trading to close at around 1.1620


On Thursday the 9th of November, trading on the euro/dollar pair closed up. The trend line was broken through as I expected. After breaking the resistance zone around 1.1606, the euro jumped to 1.1655. The US dollar came under pressure from the fact that the new tax reform legislation proposed by the Senate includes deferring a corporate tax break until 2019.


Views: 28 | Added by: mik | Date: 10.11.2017 | Comments (0)

EURUSD: increased risk of rising to 1.1660


On Wednesday the 8th of November, trading on the euro/dollar currency pair closed slightly up. The euro traded against the dollar within a narrow range of 1.1579 to 1.1611 (32 pips). During the US session, sellers tried to break the 1.1580 support, but fell short. The price then restored to 1.1599.


Views: 25 | Added by: mik | Date: 09.11.2017 | Comments (0)

EURUSD: rebounds paint an unclear picture


On Tuesday the 7th of November, trading on the euro/dollar pair closed slightly down (-19 pips). In Europe, the euro dropped to 1.1554 as the US dollar rose across the board. The head and shoulders model looks to be continuing its formation and a sharp reversal looks on the cards. This kind of behavior can be compared to when, after a run, you try to catch your breath and get punched in the stomach. It messes with your breathing so much that you don’t want to run anymore. Declines along with sharp rebounds are good for intraday traders who are working within a limited range, but annoying for trend followers.


Views: 26 | Added by: mik | Date: 08.11.2017 | Comments (0)

EURUSD: correction to 1.1640 still on the cards


On Monday the 6th of November, the euro/dollar pair closed just 2 pips away from Friday’s closing price, leaving a long tail on the daily candlestick that reaches down to 1.1580. During the European session, the euro dropped to 1.1580. The main forces behind this were BoE governor Mark Carney’s speech and a drop for US bond yields and crosses involving the euro.



Views: 24 | Added by: mik | Date: 07.11.2017 | Comments (0)

Short-term trading idea FX USD/JPY – bull speculation: breakout of the trend line expected

Trading opportunities on the currency pair: Large and small speculators are both keeping open positions against the yen. According to cyclical analysis, the dollar’s phase of strengthening will come to an end between the 8th and 23rd of November somewhere between 115.40 and 116.07. I reckon that buyers won’t be able to break through the resistance zone (114.60 – 115.00) on the first attempt and a new rally will start from 112.45 – 113.35, which will continue until the end of the year. The main target is 119.24, while the most immediate target is 116.60. The case for growth will disappear if the daily candlestick closes below 112.50.



Views: 21 | Added by: mik | Date: 06.11.2017 | Comments (0)

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