marius24's Blog
FBI's aftermath
The catalyst bedind the latest recovery in eur/usd was the FBI and of course the extreme level of short positions on euro. As you can see eur/usd has reached and stopped at an important level around 1.1120 after a steep jump. From this point the bears have little time to try retaking the lost ground, otherwise the bulls will push eur/usd into the bullish territory once the price gets over 1.1120. There is no turning back..
EURusdupdate
Having escaped from a well-shaped downtrend channel, eurusd is aiming to keep the upside momentum. The bulls need right now to push the price up towards 1.1025 and from that point an inverted H&S pattern can emerge. Let's wait and see the story with Clinton's emails.
USDjpy
When it come to trading this pair at this moment.....it's quite challenging to choose a direction. Why? As you can see the price has managed to complete a nice double bottom and even to break it to the upside, but a rising wedge pattern is waiting to be borken amid a risk off enviroment which could be trigger by a possible narrowing gap between Hillary and Trump due to the latest story with FBI.
GBP/USD
The cable is in a oversold territory and a bullish signal has already appeared on the 4h chart under the form of a white hammer. In any case any bullish attempt will be a sell opportunity for the bears' camp. At this moment entering a short position is not worthing the risk. The pair is poised for more range trading from now on.
EUR/USD FBI
Today the bear camp was turned upside down due to fact that FBI said to reopen probe into Hillary Clinton Emails and therefore eur/usd has managed to break decisively to the upside from that downtrend channel. The next level is 1.1025 where some downside pressure is expected , but not for a long time. Let's wait and see.
EURusd/update
The force of bears was quite strong around 1.0945 and the bulls haven't stood a chance to close a bullish candlestick (H1) above that level. As long as that inverted H&S is still in place the price is in nobody's camp. The bias in clearly on the downside. but a solid breakout to the upside from that downtrend channel will trigger a new wave of taking profits among the bears.