Chart of the Day -EURUSD- (Dec. 11th 2018)
Two days ahead of the ECB meeting and the EURUSD is probing a triangle consolidation support.
Two days ahead of the ECB meeting and the EURUSD is probing a triangle consolidation support.
The EURUSD has broken the key 1.1300 support and is at fresh yearly lows. We have a long term head and shoulder’s pattern, which if completed, could take the pair back towards parity.
With Italy frequently dominating the headlines in the recent weeks, it’s a good idea to take a macro look at the Eurozone: its origins, some aspects of its structure, and what dangers it might face in the near future.
The EURUSD is trading about 100 pips from key support at the 1.1300 level which was aggressively defended last week. However, a downtrend line and previous support (early October) is capping the rally thus far.
Sunday the 4th March is the day of the 2018 Italian parliamentary elections, and this has been a highly anticipated event. We’re going to discuss the various outcomes and their probabilities, but first we’re going to talk about the current market sentiment.
Good day traders! Following Christmas and New Year holidays we have seen a new bout of dollar weakness across the board which may not be over yet based on recent price developments.
Ahead of Thursday’s ECB meeting and with a crisis brewing in Spanish Catalonia the EUR is trading heavy or at significant resistance in some crosses which are worth watching for bearish reversals.
Tensions have been recently rising in Spain, particularly in the run up to the Catalonia independence referendum. The Spanish constitution explicitly forbids such a referendum, but this didn’t stop the Catalans from trying to have it.
The Federal Reserve announced on the 20th September that it would begin its multi-trillion Dollar balance sheet reduction as planned, starting October 2017.
Watch this comprehensive preview from Nicola Duke preparing you for what is coming ahead this week using her unique Harmonics approach and mesmerizing voice.