Eurusd/gbpusd - page 1750
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
bearish trend continues. A small pause due to US mid term elections has passed and now we can see the continuation or see if we are still in the ranging period - level 1.25 might prove to be a strong psychological level
Here is how the GBPUSD is looking on longer weekly chart: ( feels like it might test supply zone # 2 , below & bounce from there )
Lookout fro break below 1.58500 for the day....that's supply zone#1 breakout area destined for zone#2 downward.
Ups and downs, previous support become resistance and become support and resistance... Back to bearish trends and trading below 1.25 level, I'm interesting to find out what will happen after ADP.
Up and down, previous support become resistance and become support and resistance. Back to bearish trends and trading below 1.25 level, I'm interesting to find out what will happen after ADP.
Previous data revised. New data not too much higher than the revised data - not too much impact
Previous data revised. New data not too much higher than the revised data - not too much impact
Indeed, now we should wait for ISM I guess. I think this pair is waiting for ECB on Thursday and NFP on Friday.
Indeed, now we should wait for ISM I guess. I think this pair is waiting for ECB on Thursday and NFP on Friday.
ISM did not impact it either.
I think now everybody is waiting to see what will Draghi do in the "central bankers mutiny" case (much more than the NFP - if he ignores the mutiny, anything can happen)
After the hammer candlestick in the EUR/USD daily filter chart I assumed it will reach at least 1.2600, perhaps even 1.2640, but that proved to be far too generous an assumption, as it couldn't even break above 1.2580 before falling again. On the other hand, it's currently testing support around 1.2450, so it might form a double bottom and move to the upside again. If it breaks below the support and the previous low around 1.2440 it will likely continue on its way down to 1.2200.
Friday NFP data is most likely going to be rigged (as the last 6-7 months were : all were published as very good and then they were revised to lower with the next NFP data). If they continue to do so we can expect a violent break down.
But, having the Obama administration losing the senate too, the need for rigging is smaller now (only as a support of future presidential election (which is 2 years away) and "licking the wounds" case). Being so fresh (the mid term election loss) we might even see real NFP data in which case the EURUSD would bounce up significantly but the odds for that (having real NFP data) are very, very slim
Thank you for the interesting analysis.
The EURUSD advanced yesterday after being known a report citing internal tensions in the European Central Bank.
The representatives of the central banks of the Eurozone plan tomorrow to challenge Mario Draghi on its goal to increase the balance of the Bank.
The advance of the euro can be attributed to the fact that markets were waiting for a program of quantitative easing large-scale, but after the tensions and disagreements within the ECB reported, these expectations were lowered.
R3 - 1.26570
R2 - 1.26118
R1 - 1.25471
Daily Pivot - 1.25019
S1 - 1.24372
S2 - 1.23920
S3 - 1.23273