Does EURUSD going to fall as reached the trendline?

[Agne35]

Actually, it is tough to answer that. Already 60% retail traders are net short at EURUSD. But EURUSD has still room for going up till the resistant 1.09811 (high of Dec 03,2015)

A break above this price could push EURUSD to the next Major resistant 1.11231 ( Key resistant zone for now) . And an ECB press conference is coming tomorrow. A reminder ECB having a hawkish tone for last couple of months. A bullish ECB could be a good reason for EURUSD to climb towards 1.11231.

On the other hand French Election outcome could make Draghi to change his policy for a while as EU friendly Macron won the first round and market guessing he will lead the second round too. So, a break below 1.08508 ( low of Oct 25,2016) would open door for EURUSD to go downward till the next major support 1.0653 ( high of Dec30, 2016)

Happy trading and check the chart analysis below.


(Note: My technical charts are from Tickmill, please adjust your chart, I have put a violet round box at support/resistant area)


freeimagehosting

 

[Agne35]

Our bullish view remains same for EURUSD. No major changes happened yet with the price action. It's hovering above the resistant 1.0850 and 1.0981 is the next target resistant. We had a major bank holiday today and market had lower liquidity.

However, Don't forget FOMC minutes are coming at Wednesday. Tone set by FED is very important for the EUR to set it's direction.

Thanks


image hosting api

 

[gerryg]

Waiting for the Fed decision today. Shorting Dollar, expect to be this as a biggest trade in this month as the rest of days will be calmer.

 

[Agne35]

Waiting for the Fed decision today. Shorting Dollar, expect to be this as a biggest trade in this month as the rest of days will be calmer.

Actually, it is not the OPEC or North Korea market is uncertain about it, it is USA. Things are very unpredictable nowadays. Even Fed having less impact!

Yellen ensured that economic growth would pickup , it was true if you look at the data from last Friday (retail sales and core cpi) but market took that very negatively and dollar is bearish below 99.10 , today closed below it at 98.80 area!

Anyway, what are your focused currencies this week?

 

[gerryg]

Actually, it is not the OPEC or North Korea market is uncertain about it, it is USA. Things are very unpredictable nowadays. Even Fed having less impact!

Yellen ensured that economic growth would pickup , it was true if you look at the data from last Friday (retail sales and core cpi) but market took that very negatively and dollar is bearish below 99.10 , today closed below it at 98.80 area!

Anyway, what are your focused currencies this week?

I've been shorting dollar since our previous posts, 8 day passed +1000$ profit from EURUSD trade. thankfully Trump spilled the beans to Russian Foreign Minister causing concerns among traders which dumped the buck yesterday and today

Here you can see my last trade http://www.myfxbook.com/members/woodcutter/pulse-tickmill-real/1757067