EUR dropped heaviliy again last Friday following mr.Draghi's speech. It reached 1.2360 again and currently has formed a 'double bottom' formation. However this formation is still unconfirmed. I will consider it confirmed once the price breaks above 1.2465. On double bottom confirmation we shall have a signal for a powerful profit taking and upside recovery to 1.2620. Once above it the upside will continue to 1.2740. For now first strong resistance comes at 1.2470, followed by 1.2510. If the…Continue
Last Friday EUR made some recovery to 1.2550-60 resistance area. Today EUR reversed to the downside again and has cleared all the progress made on Friday. Currently EUR found support at 1.2450 which is also the H4 Senkou Span A price. For now we are still just above the support but i think there is a huge possibility for it to be broken soon. H4 indicators are bearish, and the Daily ones are going bearish too. First target is 1.2380 and then 1.2325. To the upside we need to break above…Continue
EUR reached a fresh low last week at 1.2360 then some profit taking appeared on Friday and the pair returned back at the important 1.2450 support. Currently we are above it and the H1, H4 and Daily indicators show some recovery signs. However we have some strong resistances ahead, and this recovery may be just some profit taking and not a real recovery process. First resistance comes at 1.2520, the second one is at 1.2565 and finally 1.2650. Only above the last we shall have a real recovery…Continue
EUR under a heavy downside pressure again after last week's FED meeting and has broken the 1.2500 support, currently trading below it too. Weekly, Daily and H4 indicators are bearish so another push downside is ahead. Seems that the EUR will look for support around 1.2200-1.2140 and finally 1.2000. It may seem too catastrophic but prices below 1.2000 are also possible, but maybe next year. For now EUR is bearish below 1.2530 and first resistance is now 1.2500.
GOLD dropped sharply to…Continue