Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis by Alpari
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Alpari, post: 103700, member: 34756"] [CENTER] [SIZE=6][B]Long Overdue Correction for Euro[/B][/SIZE][/CENTER] [I][B]Previous:[/B][/I] On Wednesday the euro/dollar managed to lift above 1.14. Due to oil and gold prices rising, the euro’s strengthening was held back in the EUR/AUD and EUR/CAD crosses. The euro, just as did other currencies, received support from a weakened dollar which traders were selling due to reduced expectations of a Fed rate rise. [I][B]Market Expectations:[/B][/I] After Friday’s payrolls, the euro has been in a three-day upward correction. During this time, between the AO indicator and the price on the hourly we can see that a double bear divergence has formed. On the daily we have 1.1450 as a target. If the dollar will weaken throughout the market again today, this target will be reached today. I’ve dumped the bulls for the time being and am sitting on the side-lines whilst the rate hasn’t returned to 1.1375. I like how the indicators look for euro purchases on the hourly and the 4-hour period. A sharp correction could see the euro fall to 1.1360. [I][B]Day’s News (EET):[/B][/I] [LIST] [*]10:00, Draghi to speak; [*]15:30, Canadian new housing price index for April, capacity utilisation in Q1 of 2016. US unemployment benefit applications for the week ending 05/06/2016; [*]17:30, Bank of Canada’s financial system report; [*]18:15, Bank of Canada’s Poloz to speak. [/LIST] [I][B]Technical Analysis:[/B][/I] Intraday forecast: minimum: 1.1375, maximum: 1.1415 (current Asian), close: 1.1401.[IMG]http://www.alpari.ru/data/media/trunk/images/Analytics/2016/06/eur_090616.png[/IMG] The euro’s growth has slowed around 1.1410. The price is in the middle of the channel. In Asia the euro has strengthened against the dollar to 1.1405. Meanwhile the volumes have not increased. Taking the bear signal (double divergence between the AO indicator and price) into account, in my forecast I’ve gone for a downward correction to the lower limit of the channel at 1.1375. There’s another thing. On the option’s market for July futures at 1.15, open interest is significantly up. Since the price is out of the money, it will be defended by those who’ve sold it. A break in the channel at 1.1378 will hasten the euro correction to the 45th degree to 1.1360. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…