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EURUSD threatening range breakout

At the beginning of the week, I had given an outlook on the EURUSD.
For the most part, I expected that we would trade within a range, with the downside support by 4H resistance turned support as seen in the highlighted section on the chart. And the upside protected by last week's highs.
Ahead of today's FOMC Minutes, we are starting to see USD selling and the pair threatening to break the range.
There still remains a weekly level at 1.1440 - a level that we missed by a few pips last week. With t…
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EURUSD Weekly Outlook

The EURUSD as of late is in a full fledged bullish trend. We see it making higher highs and higher lows on all time frames aside from the Monthly.
The pair is approaching some resistance however, where traders with their eyes on the Monthly & Weekly charts may look for potential short setups. Here is the outlook:
The above charts shows a clear bullish trend. Last week we broke the downside correction which appears as a flag. We have started a new channel up on the 15m/1h. Dips towards the bottom…
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EURUSD - Diverging Policies remain

The big slide in EURUSD that came from the initial move in Summer of 2014 was largely due to the fact that the Euro zone and the United States were diverging on monetary policy.
Over the larger part of this year however, we've seen the market price in most of the Euro zone's efforts, as well as the United States, which started seeing more skeptics as we approached year end, over a rate hike.
This past week, we have once again had confirmation, that the two economies are in fact continuing down t…
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EURUSD Late Session Break - USD Strength to follow?

The EURUSD Broke to new lows late in the in the London session (around 4:30PM GMT). Is this a sign of the return of USD strength after a week of essentially sideways movement?
The problem with the USD at this point it that it's no doubt almost everyone is bullish, but it would be easier to buy on a dip, rather than continuing to chase the currency higher.
We have started to see momentum slow already. USDCAD is a great example, as the pair starts to move more sideways (while still making highs) b…
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Yellen's Welcome Speech - No "Heads Up"

The USD Bulls may have been anticipating today, as a catalyst to buy USD.
However, the fundamentals gave them no reason to do so. First up was Unemployment Claims, which came in at a slight miss (276 vs 270) & then Yellen's welcome speech
There may have been some anticipation that Yellen would provide further confirmation that there would be a December rate hike, or acknowledge that the data has been coming in well. The lack of such may have been the catalyst for a spike down in the US Dollar as
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After the Fed - What's Next?

Last week's Fed statement left the market with appetite to buy the USD. Specifically it is this part of the statement that led a strong conviction to the markets that they have not closed doors to a Dec Rate hike .
In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress--both realized and expected--toward its objectives of maximum employment and 2 percent inflation

What stood out from the statement was the specific referenc…
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EURUSD Pullback - Looking to sell

Last week's press conference from Draghi and the ECB instilled some bearish pressure on the Euro. This week, so far we have seen several of the Euro crosses pull back. In focus is the EURUSD. The pair still has further downside potential while below the pre-ECB highs of 1.1330.
So far we have already tested the 50% Fib and pulled back a bit. Can't rule out another leg lower, but short side is favored in these levels.
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Joe_Vulcan avatar
Joe_Vulcan 2015年10月29日

Still selling as of reading...

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ECB Draghi - More QE?!?

CNBC Released an article today suggesting we may see more QE from the ECB. Here are the highlights
  • New wave of EUR strength undermines ECB efforts to boost inflation
  • ECB meeting on Thursday - Expecting Draghi to comment about future support from the Central Bank
  • Increased demand for Euro's on the back of China economic concerns and US Rate hike expectations (or lack of)

Full article can be found at link below:
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EURUSD - What's next?

EURUSD has been in somewhat of a range once again, not giving traders much of a clue of it's next move.
There are some key breakout levels for the short term, here is what I'm looking at
To the downside we have 1.0941 which the price has already faked below. To the upside we have 1.0988 which we tried to test already today. For now there does not seem to be a clear direction. The fact that it did not take out 1.0988 leads me to believe the next leg is bullish, but at the same time, that was a de…
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EURUSD Holding 1H Channel

EURUSD after gaping down to open the week has shown some bullish attempts to start the week, however has already twice seen rejection from the 1H channel. At the end of the London Session, we once again see the pair trying to break, while only drawing some reversal candlesticks and making it's way lower, in the direction of the predominant trend.
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