Tag Archives: USD

EUR/USD: Bounce Possible After Best Services PMI Reading In 4.5 Years

Matt Weller

US traders are dragging themselves to work for a holiday-shortened week, though they are likely to have increasingly urgent daydreams about Thursday’s coming gluttony and tryptophan-induced afternoon naps as the week goes on. Lest we get too distracted though, there will be a number of significant economic releases in the first half of the week, including US housing data (both later this morning and on Wednesday), German IFO survey figures, “preliminary” Q3 US GDP data, consumer confidence, and durable goods orders. more…

EURUSD Proceeding With Downtrend

Nenad Kerkez

As I have shown in my previous EURUSD analysis  the EURUSD has clearly rejected from POCs and proceeded in trend direction. Overall, the first target zone has almost been met – 1.0620 and it happened after the break of 1.0670 as I have suggested. We need to think about 2 potential scenarios. The first is CONTINUATION point of view and the second is POSITIONING. more…

EUR Still Gaining Bearish Momentum Against The Dollar

Gregor Horvat

EURUSD fell sharply lower in the last few weeks with accelerating price action which confirms a continuation of a downtrend. We see huge possibility for wave (3) in progress that is part of a big five wave move within wave V that began unfolding at the end of September, away from 1.1700. Based on current very strong bearish momentum we may see extension towards 1.0400 this year, where we see Fibonacci projected levels for wave (3). As long as price trades beneath 1.1082 trend is down. more…

GBPUSD: Expected Fall To 1.5145

Vladislav Antonov

On Thursday the pound/dollar was trading above the LB in a range of 70 points. In the first half of the day the rate dropped to 1.5173 and in the second it returned to 1.5240. It’s now at 1.5199. If European trading sees a break of the 1.5191 support (LB and trend), I’ll be expecting a weakening of the pound to the 67th degree at 1.5145 (technical signal without any fundamental news).. more…

GBPUSD : H&S Pattern Suggests More Weakness In Sight

Gregor Horvat

Pound fell sharply yesterday across the board, especially against the USD. We can see a new leg down for more than 200 pips beneath the trendline connected from October 13th which suggests that price is headed much lower. From an EW perspective we see a completed wave (2) now at 1.5500 so current decline is impulsive that should finally break below 1.5105 low from end of September. At the same time we see bearish head and shoulder pattern, now completed as well which also suggests lower prices in days ahead. more…

GBPUSD: Waiting For BoE Decision

Vladislav Antonov

My forecast worked a treat. The pound/dollar dropped to 1.5360 from the LB. The pound didn’t fall too much because the euro/pound was holding it back. Today’s key event for the financial market is the Bank of England meeting. Forecasters expect the base rate to be left unchanged at 0.5%. The results of the MPC voting and what Carney has to say afterwards will bear importance for traders. more…