Daily chart: the Euro preserves a growing tendency and continues to rise to the upper Bollinger band (1.1224), which, given the state of ADX, is likely to be corrected downwards to the middle band (1.10)
Í4: bullish dynamics is preserved, but both overview indicators are close to overboughtness area, so we confirm an expected bounce from 1.1224.
Í1: here we have a much more localized resistance - 1.1140.
Expectations: 1) .Rising to 1.1140 and rolling back down to 1.1072. 2) Rising to 1.1224 and rolling back down to wards 1.10
1) Keep Buy trades open to 1.1140
2) Looking for short signals from resistance 1.1140 or 1.1224.
January 23, 2017 Japanese Yen is taking the heat
Looking at the daily chart of the Japanese Yen, we can see that the bullish engulfing has formed next to the 50% Fibonacci level, which has been broken on the weekly chart at the points of 125.853 and 98.935...
January 23, 2017 Main Macro Events This Week
President Trump has his feet under the desk in the Oval office and the tone of his inaugural speech and actions over the weekend reiterated his campaign themes to Make America Great Again...
January 23, 2017 UK stocks start the week on the back foot
The FTSE100 is under some selling pressure this morning and trading lower by around 40 points. The leading UK stock index posted its first weekly loss in over a month on Friday and has continued lower out the gate today. The pound is broadly higher on the day and has moved back above the 1.24 handle against the US dollar...
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