EURCHF Might open with a Gap due to French electionsHey traders, in this week we are monitoring EURCHF for a buying opportunity around 1.033 zone, once we will receive any bullish confirmation the trade will be executed.
Trade safe, Joe.
Frenchelections
CAC40 Rejoins Channel, Technicals Flash OverboughtWhile the CAC40 gave traders an almost perfect technical upward channel for January February and most of March, that channel was broken last week only to be somewhat regained over the past few sessions. It still does not know however if that channel support line is now resistance or still support. Moving averages all signal upward momentum while bull bear sentiment and RSI flash that this index is overbought. I'm not confident in equities right now. They all seem overbought and tend to be universally stagnant. Let's see how much further we can go though.
Archos forecast in next couple of daysThis analyse used Fibonacci and my indicator call "Min_equity_Thesis_indicator" in Public library of Trading View. I estimated the way of the Archos over the next day. In fact Archos with its new crypto strategy will go up in long term.
But in Short term my signal is short with a target price of 1.23.
If you have any comment, let me know.
Fiat Chrysler #FCA long bias. Long term buy setup at monthly demFiat Chrysler #FCA long bias. Long term buy setup at monthly demand zone around 6.22 or longs at new areas of demand. After a very strong rally in price, price usually creates a bigger retracement down to valid areas of demand. This is a long term buy setup at a big timeframe area of demand.
Potential long entry in SupportAfter the second round of the 2017 Frenchelections profit taking put the EURUSD under pressure. Price is now resting in the support area and potentially form a double bottom
Observing the most recent downtrend line for a rally continuation
Late entry? Don´t get caught on a potentially 3% falling marketDo you consider yourself a conservative trader who requires a lot of confirmation before entering? Pay attention to not enter to late!
Often, waiting for too much confirmation is like attending to an all you can eat lunch at 14h30. You pay full price but there is almost nothing left to eat.
This is such a case. Those traders who position themselves ahead of future price action generated profit already on the first round of french elections and will continue (potentially) on the second round.
Those conservative traders who wait for the result of the elections may go long EUR after Macron´s win (hopefully he will!!) and then Euro falls because the french elections pushed it right into a BatPattern on the weekly chart and there traders will close their long position with a loss. This BatPattern is of course no guarantee for a downtrend in the Euro but those who are trading BatPatterns, especially on EURUSD know that the chances are way above 60% of reaching a 38.2% retracement (here almost 3% down movement).
What I am not saying is that being conservative or having a conservative entry approach is wrong. Instead I want new traders who are thinking about conservative entires to consider how much of the directional potential is already gone.
EURJPY LONG IDEA: keylevel retest + creating trendline Fundamentals: Strong EUR because of French election and weak yen
Technicals: Just broke 122.05 which is a strong level, looking fo a retest with a rejection there, creating a trendline, followed by strong bullish momentum.
Gap Still Needs To Be Filled on EURUSDWe recently had a major gap in the markets after the first rounds of the French Election process. On EURUSD the pair gapped up nearly 200 pips. Price came down quite a bit over the last week, BUT the gap hasn't been filled yet. The market doesn't like holes, and it doesn't like uncertainty. Euro's been consolidating within a 100 pip range, but I believe that the next round of French elections will trigger a drop in EURUSD, filling the gap. This trade has a great risk reward ratio, and comes after multiple retests of the highs. Entry at 1.0910. Stops above 1.0950. Targets at 1.0850's, 1.0775, and 1.0730.
EURUSD: UpdateAfter closing in profit two days ago, I detected that the short term trend would top. Clearly I was on the right track. This dip is good to reenter and/or add. I got back in with a half position already, will keep adding gradually today and two more days after until my risk allocation is completed.
I outlined two potential guess/forecasts based on dynamics of multiple timeframes and key levels of support and resistance. You could now place a stop at 1.06024 for these new trades and old ones if still in.
Good luck,
Ivan Labrie.
