Tuesday, April 18, 2017

Betting on bet

Betting on a bet.

EURUSD


R4 1.1330 daily high September 1


R3 1.1260 daily high August 31


R2 1.1240 daily high September 3


R1 1.1230 daily maximum 8 September


Current price 1.1205


S1 1.1150 daily low September 8


S2 1.1085 daily low September 3


S3 1.1060 daily low August 17


S4 1.1020 daily low August 12



ended
Another relatively boring day for those trading EURUSD. Since the beginning of the Asian session, the bulls attempted to develop
the upward movement and fixed in 1.12oy figure against the background of the renewed
Drop on Chinese stock exchanges, after the publication data weak
exports and imports in August. If exports from China came out a little better
forecasts, showing a drop of 5.5% against the expected 6.0%, imports
decreased by as much as 13.8%, instead of the projected 8.2%. However, then the market
There were rumors of a possible further reduction of interest rates by the People's Bank
China, significantly podogrevshy optimism of its members. As a result, Shanghai Composite, recouping all the losses, closed up 2.9%, and for them to significant
growth went up, and all the other stocks. Increased in connection with the appetite for
risks leaving the pair little chance that quickly flew back to the middle
1.11oy figures. The situation did not save even a positive revaluation of the German GDP in
second quarter from 0.3% to 0.4% on the quarter and from 1.2% to 1.5% per month
year.


After
speech Mario Draghi last week, in the long term, the pair remains
fundamentally weak because of the possibility of expanding the program of quantitative
weakening. However, in the remaining days until September 17, the bulls can get
some support due to the reduction of positions, mostly shorts,
market participants in anticipation of a decision on interest rates, as
the probability of its increase at the next meeting is estimated at this time
just 30%. And if it is not increased, the euro can develop correction up
to 1.1380-1.1460.


The technical picture and trading strategy.


Against the background of the lack of significant on the horizon
macroeconomic releases in the price of the pair will likely be laid
raise interest rates by the Federal Reserve on September 17, and since it
estimated below 50%, the euro there is a certain potential for growth in the short
term. Daytime lights until neutral, time at the moment
They turned up and still have enough space to continue the movement. Breakthrough
recent highs around 1.1230 will open the way to the area of ​​1.1280-1.1300, where
as risky strategy, you can take a small sale with a stop above
1.1335.

Related posts




  • USDJPY on positive NFP retained


    USD / JPY: on the positive NFP retained. What's next? Technical analysis and trading recommendations - HERE! Despite a slight decrease from the beginning...




  • AUDUSD after performance of heads


    AUD / USD: after the performance of heads of the RBA and the Fed TRADING RECOMMENDATIONS today the speech of the Reserve Bank of Australia Glenn Stevens...




  • Forex ee Economic Daily Digest


    Forex.ee: Economic Daily Digest Daily Digest of economic Forex . ee Keep an eye on major economic news with us Monday, June 20 GBP / USD It rose more...




Next posts


No comments:

Post a Comment

BoM Collection

BoM Collection BoM Collection currently includes three councilors - Breath of Market EURUSD (recommend to read the description), Breath of...