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EURNZD Trading PlanWith the dust of Brexit still settling there is much uncertainty as to the direction of the world economy, we saw a significant drop in the GBP. As the U.K stabilizes itself with the injection of £250 Billion from the Bank of England (www.independent.co.uk) coupled with the threat of other EU member states considering there own exits (France & Holland) this will lead uncertainty and may have a domino affect as suggested by Germany (www.foxnews.com). No doubt a gloomy future for the Euro hence why Economists are considering the Euro to collapse in 3-5 years (www.cnbc.com).
by TheConcierge
1
Crude can hit back again.Crude(25.03.2015) broken downside & traded lower towards $43 mark as mention in our last analysis. However the recovery was quite sharp to resistance zone once again. Now crude is trading around $47.50 & as we can see on charts, its approaching to the broken tradeline of last symmetrical triangle pattern. This recovery seems to be a corrective one due to less volume & weak candlestick structure. However small timeframe charts showing some positivity but day & weekly charts are still bearish. To convert this rally into a reversal crude must provide a close above $55 mark otherwise a deeper fall may occur this time. On fundamental side nothing have changed. Crude inventory & production still on higher levels while next OPEC meeting due on 5th june 2015 at Vienna, Austria is far away. Based on above studies, we will prefer to stay on sell side & may witness a fall back towards $44 mark & may be followed by $41 in coming weeks. MCX -> S2(2810) S1(3020) cmp(3130) R1(3300) R2(3560) Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us Call Us : 088890 34986 www.mantracommodity.blogspot.in
FX:USOILShort
by mantracommodity