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Yesterday saw a relief rally in EURUSD following news out of Europe. Hindsight is always easy and finding the turning or stopping point in any market on days like that is a hard task. The price shot through the 50 percent Fib level of the May highs and October lows and and stopped on the preferred [...]
The charts below are for each of the G10 currencies versus an evenly weighted basket of the remainder of their G10 peers. The charts are small (as we work on updating the blog to allow links to larger graphics), but they nonetheless do cover quite a bit of ground – 2500 data points for each [...]
A look into the market volatility reveals forex movements are about half as volatile as the stock market. Therefore, choose to trade a pair that meets your volatility appetite. The crash in stock prices we have seen in the past 2 weeks has created a significant increase in volatility. For the past 3 trading days, [...]
EUR/USD Weekly Outlook EUR/USD soared to as high as 1.4028, just inch below mentioned target of 100% projection of 1.1875 to 1.3330 from 1.2587 at 1.4042. A temporary top is in place and initial bias is neutral for some consolidations first this week. But downside is expected to be contained by 1.3636 support and bring [...]
A long term perspective may be taken with an existing channel line and an opportunity for entering the market may exist for the EUR/USD pair. The original trend line (1) has been drawn, connecting with yesterday’s closing price of 1.4732. A parallel channel line (2) has been drawn from the prominent peak of 1.3630. Notice [...]