Technical Analysis

EUR/AUD determined to proceed lower


The EUR/AUD has broken through important trend line below 1.5180 and it seems it is targeting 1.4930-00 zone as the first target. A huge uptrend that started from 1.4434 lows ended up with 1.5647 and as commodities got stronger AUD got stronger too. The pair is showing a potential for...


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EUR/JPY consolidating within bullish pennant



The EUR/JPY has been consolidating in the bullish pennant for last couple of days. This consolidation is showing a battle between bulls and bears for the next breakout. For trading purpose we have 2 possible scenarios. Twofold scenario is possible due to general downtrend and bullish pennant at L3 support....


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EUR/USD beware of breakaway gap


The EUR/USD and most Forex pairs opened with a gap on early Monday. Equities spiked higher as the market has temporarily dismissed the fear of Brexit as the latest Bloomberg reports reduced the Brexit probability to 42%. DAX went up 3.6 % along with FTSE. Equities went so bullish that...


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EUR/GBP shorting from the top of the right shoulder possible


The EUR/GBP has formed inverted head and shoulder and traders might try to short into the top of the right shoulder, exploiting the best possible r:r. POC for counter trend trades comes within 0.7995-0.7970 (H4, bearish divergence, Pin bar, the top of the right shoulder). The first target is 0.7892....


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EUR/USD FOMC will provide additional momentum today


It is very possible that Yellen may continue with her hawkish tones at the upcoming FOMC meeting. Nevertheless, as I stated in earlier updates, all eyes will be on the UK referendum this month (23 June 2016) as to whether the UK will remain in the EU. The uncertainty of...


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