Hello,
Since NFP's release the Euro has considerably weakened. It has however established a strong daily support around 1.07346. I t [personally think CPI will push down to lower levels around 1.06000.
Trade with caution using proper risk management!!!
For the last 3 weeks the EURUSD has been creating higher highs. This mainly due to a weakening in the dollar strength. The cause of this has been due to bad job numbers from the recent unemployment claims coming from the USA.
Dixxie has resumed its upward trend post a bullish NFP and now hold a FIB level of 38.2%. Signals from the FED that the dollar will not slow down on hiking interests rates has caused buyers to dominate the market as it stands. CPI comes out on the 11th of January and we could see a continuation to 109 levels after a break of the structure and retest. Trade you...
Straight to the point the dollar strength cannot be ignored. This pair has been bouncing in ranges all week around 1.05982- 1.09207.
As the market gears towards CPI we could potentially see a weaker EURO after a break of its support at 1.09207.
Short after retest and confirmation.
Trading is all about patience. There will be slow weeks like this one then...
Overall Dixie is regaining momentum but now faces strong resistance around 103.718. We need more financial data to rally market movers to inject liquidity and move the index towards 104.00 This will be around the 23rd or 24th of January.
For now conserve your capital. Those massive rallies you love are around the corner.
Note: The longer the accumulation the...
EURUSD has bounced off a critical level of support and will go to the next level of resistance. This move fundamentally is driven by the possibility of interest rates easing in the coming months. The pair is now moving in a pennant formation.
From a panoramic view this market is in a downtrend and historically, over the five days that have elapsed, the market has been bearish, we have equally spotted a market range through this period. We are anticipating that the price will break support at 1.064001. If this breakout is followed by a retest and continuation we will go short.
