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Sideways with bullish tilt

Currency Pair:Eur/Gbp
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7243
Trend:downtrend
Possible trading range:0.70 - 0.75
Signals: A descending channel broken to the upside + a psychological level ( 0.70) might suggest that a bottom is on the table
Fundamentals: Any rate rise still looks to be some way off as long as there are real concerns that further rise in the pound could raise the risk of a prolonged period of very low inflation. ON the other side it seems…
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marius24 avatar
marius24 16 4月

update: Current price - 0.7166. THat double top pattern mentioned by my last time has been broken to the downside around 0.7220 and it appears to target a much lower level at 0.71. The bond yield differential is the main cause of the current fall in this pair

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marius24 19 4月

update: Current price- 0.7228. The price simply stopped from falling being very well supported around 0.7163. Anyway as long as the rate stays below that neckline spoken by me in the last update the outlook remains bearish. ON the 1 hour chart a bullish pattern which appears to be more a triple bottom than an inverted H&S may cancel any declines if we see a breakout higher above 0.7230

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marius24 27 4月

update: Current price - 0.7156. The price continued to fall until 0.7115 and then some bulls appeared out of nowhere. Further dismal figures in US data have triggered a new round of throwing the dollar in the favour of Euro and pound. The technicals here remains bearish as long as we are below 0.7220, a level which represents the neckline of a massive double top situated on the 4 hour chart.

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marius24 28 4月

update; Current price - 0.7160. ON the hourly chart an inverted head and shoulders has just appeared having its neckline around 0.7170. In case this resistance falls apart then there are big chances to see once again 0.72 zone. The fundamental seems tilted towards an upside move as Greece appears to end the deadlock. SO far there are only hopes. I remain bullish on this currency pair, but cautiously

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marius24 29 4月

update: Current price - 0.7205. THe price has been driven higher on the back of slump in US GDP data which may push further the timing of the first rate hike. ANyway the FED has just said that the US economy has been slowed down by transatory factors. As long as the price stays below 0.7220 the bears are in the control.

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Bearish outlook for GBP/CHF

Currency Pair:Gbp/Chf
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 1.5185
Trend: consolidation on daily chart
Possible trading range: 1.4850-1.5350
Signals: at the first glance on the daily chart it's quite clear that a bearish head and shoulders pattern is underway right now having its right shoulder uncompleted
Fundamentals:as long as powerful external factors are pushing down CPI in UK( lower prices of oil, low inflation in EZ etc) we can say at this moment that…
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marius24 avatar
marius24 9 12月

update:the right shoulder is waiting to be completed and this fact will become reality if the price falls towards 1.4970 ( daily chart). Otherwise the price will continue to be traded in the same trading range between 1.54 and 1.50 in the following period. Current price 1.5212

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marius24 18 12月

update: The SNB lowered the interest rates at -0.25% and this action in normal conditions is enough to cause some losses for  franc.

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