EURUSD pair fell during the first few days of last week but during Thursday and Friday, it formed bullish candles. Fundamental Analysis European Central Bank looks like they could begin their tightening policy soon. Even thought Feds are also hawkish at this moment, the favour is likely to be on the the Euro as the data coming from US are mixed. Technical Analysis As daily bullish candles have been formed for Thursday and Friday, it looks likely that the pair could go higher from here as shown in the chart….
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EURUSD Trading idea – 3 black crows on daily chart
EURUSD has fallen for the 3rd consecutive day and has formed a 3 black crows candlestick pattern on daily chart. One of the fundamental factors that support this move was the comments by Fed Chair Yellen. The dollar maintained the strong footing set at the beginning of the week, after US Fed Chair Yellen said on Tuesday that, while a gradual approach to hikes is appropriate in the light of subdued inflation, she also added that the Central Bank should be wary of moving too gradually. This makes us believe that…
Read MoreEURUSD Forecast and Trading Idea for the week of 11 September 2017
Fundamental & Technical Analysis The EUR/USD pair broke out to the upside last week, it broke above the top of the shooting star from the previous week. Even though it pulled back a bit it was able to close above the 1.20 level. Therefore the traders would most likely buy on dips to gain value. The market is a bit overbought, but the interest rate expectations out of the Federal Reserve are diminishing at the moment, and that should continue to favour the EUR. Ultimately though, we are overbought, so…
Read MoreEURUSD forecast for the week of 28-Aug-2017
Fundamental Analysis EURUSD pair consolidated for the most part of last week until the comments given by Yellen and Draghi on Friday. The markets awaited in anticipation of the meeting at Jackson Hole, looking for clues from the central bank heads, of the monetary policy ahead. The markets expected Yellen to be hawkish to give some boost to the greenback. However she chose not to give such clues. The Dollar in turn weakened across the board sending the pair to the region around 1.1870 Even though Draghi did not say…
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