Monthly: The cross made an impulsive selloff from 2.1116 (2008 high) to 1.1605 (2012 low). We have been trading in a bullish corrective channel formation for the last 68 months. Levels close to the 50% pullback level of 1.6327 have attracted sellers. This area has been pivotal since the start of 2004. Weekly: Highlights a Doji Style cand...
Last Thursday, the ECB chairman Mario Draghi again surprised the markets with more confusion. We all know that he is one of the most surprising chairman of the ECB with his actions and remarks. Yet, Thursday’s remarks added more confusion toward the ECB's upcoming plan, leading to a notable rally in the Euro for a limited time. The currency then...
About a few weeks ago, we pointed to potential trade opportunities in the Euro cross currencies; the EURCAD and the EURAUD. These two currency pairs got the attention largely for two basic reasons. The Aussie and the Canadian dollars are typically risk-on currencies and tend to rally usually when the markets are quiet and a certain element of co...
The never ending saga of the Greece crisis is likely to keep the EURUSD trade sideways for the most part, until one of the two economies, namely the Eurozone or the US gives way. For the Eurozone, while a short term solution to the Greece crisis could see some kind of a rally in the Euro, in the longer term, with the issue not being resolved cou...
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