This may not be the consensus among market participants but I still see the euro going down in both technical and fundamental approach.
Fact 1: It is on a resistance level, and will likely hit a historical resistance level if it decides to go higher at 1.21
Fact 2: BREXIT is happening it will have negative impact on EUs economy with or without a trade deal....
Generally speaking this pair is in consolidation for the past 4 years between 0.83 - 0.93, if we follow this technically EURO Should go down as it already tested the resistance area
BUT, there's a mini consolidation that is happening between .87 - .92 ever since the Brexit talks are hot again.
A DEAL OR NO DEAL?
I believe that any deal strike between these two...
Before I start with the analysis, I want to thank everyone who liked my previous posts! :) I appreciate you guys.
I am calling a BUY signal for USDCAD as it is sitting on a strong support that was tested multiple times, I suggest taking a small position until a reversal is evident.
A break from the 100MA and a breakout from the previous high will more or less...
I saw the short play using technical analysis without knowing about the fundamentals.
As I study more into GBP, there's a lot of things that could go wrong with the British pound or the mere fact that Brexit is happening by the end of December with or without a deal.
A No Deal scenario will strongly support my SELL bias, while a fair trade agreement and a worse...
This is a long term short idea as I am using the daily chart.
Just like the EURUSD this pair is testing their major resistances and I don't see any significant news that would take these pairs into new highs.
What I am waiting for is a reversal candle, like a doji or engulfing candles along with the RSI divergence.
Cheers!
This is a simple trade analysis on EURUSD.
I am looking at it as a short term BUY, then a long term SELL.
this trade is under the assumption that the major resistance at 1900 will be tested again, before giving a sell signal that could continue up to 1600 level.
Took this trade using a reversal set up.
1. Price is above MA 20
2. RSI crossed above 30
3....
