*Pound Hits New 2-week High Of 1.1972 Against Franc

Trading 27 mai 2020 Commentaire »

Pound Hits New 2-week High Of 1.1972 Against Franc


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*Pound Advance To 1.2354 Vs Dollar, 133.00 Vs Yen

Trading 27 mai 2020 Commentaire »

Pound Advance To 1.2354 Vs Dollar, 133.00 Vs Yen


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Short-term Ichimoku cloud indicator analysis of EURUSD

Trading 27 mai 2020 Commentaire »

EURUSD has made another try to break above the key Daily horizontal and Ichimoku cloud resistance at 1.10-1.1020 area but has failed. Price remains inside the Kumo (cloud) and we continue to consider trend neutral.

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EURUSD is trading above both the kijun-sen and tenkan-sen indicators inside the Kumo. Support is key at 1.0905-1.0875. Breaking below this level will increase dramatically the chances of pushing lower towards 1.06. Resistance is at the upper cloud boundary at 1.1065. Today price was unable to break horizontal resistance.

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Green rectangle - horizontal resistance

Red line -long-term resistance trend line

EURUSD got rejected at the green rectangle resistance area today and is reversing. This could mean nothing and just be an initial pull back. It is important for the short-term price to stay above 1.0870. Breaking below 1.0870 will increase the importance of the rejection. Horizontal support we find next around 1.08. The market is mostly ranging for the last couple of weeks so it is preferred either to stay neutral or sell near resistance levels and buy near support levels. Stops should be placed on the trading range extremes and if price breaks any of them, we follow the trend.

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*Euro Gains To 1.5152 Against Loonie

Trading 27 mai 2020 Commentaire »

Euro Gains To 1.5152 Against Loonie


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*Euro Climbs To Near 2-month High Of 118.81 Against Yen

Trading 27 mai 2020 Commentaire »

Euro Climbs To Near 2-month High Of 118.81 Against Yen


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May 27, 2020 : GBP/USD Intraday technical analysis and trade recommendations.

Trading 27 mai 2020 Commentaire »

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Recently, Bullish persistence above 1.2265 has enhanced another bullish movement up to the price levels of 1.2520-1.2590 where significant bearish rejection as well as a quick bearish decline were previously demonstrated (In the period between 14th - 21 April).

Currently, Atypical Bearish Head & Shoulders reversal pattern is in progress. The GBP/USD pair was recently demonstrating the Right Shoulder of the pattern.

Hence, Bearish persistence below 1.2265 (Reversal Pattern Neckline) was needed to confirm the pattern. Thus, enhance another bearish movement towards 1.2100, 1.2000 then 1.1920.

Two Weeks ago, the price zone of 1.2300-1.2280 corresponded to a short-term uptrend as well as a recently established demand zone where a low-risk short-term BUY trade could be taken.

However, the recently demonstrated Lower High around 1.2440 invalidated the suggested short-term bullish trade.

Shortly After, the price zone of 1.2300-1.2280 failed to provide enough bullish support for the pair.

Recent transient bearish breakdown below 1.2265 should have been taken into consideration as it has temporarily confirmed the previously-mentioned reversal-top pattern.

Hence, further bearish decline was expected to be enabled towards 1.2020 as a projection target for the reversal pattern.

Currently, the price zone of 1.2300 - 1.2330 (Backside of the broken Uptrend) stands as a recently-established SUPPLY-Zone to offer bearish rejection and a valid SELL Entry for the pair in the short-term.

Trade recommendations :

Intraday traders can still consider the current bullish pullback towards the price zone of 1.2300-1.2330 as a valid SELL Entry.

T/P level to be located around 1.2150, 1.2100 and 1.2000 while S/L should be placed above 1.2350.

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*Euro Rises To Near 3-month High Of 1.0692 Against Franc

Trading 27 mai 2020 Commentaire »

Euro Rises To Near 3-month High Of 1.0692 Against Franc


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*Euro Firms To 1.1031 Against U.S. Dollar, Strongest Since April 1

Trading 27 mai 2020 Commentaire »

Euro Firms To 1.1031 Against U.S. Dollar, Strongest Since April 1


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Short-term Ichimoku cloud indicator analysis of Gold

Trading 27 mai 2020 Commentaire »

Gold price has broken below key short-term Ichimoku cloud support indicators. Price could continue lower towards $1,650 as long as we stay below $1,700-$1,710. The RSI bearish divergence has warned us when price was making new highs.

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Gold price has broken below the key short-term support provided by the kijun-sen (yellow line indicator). The chances for reaching the Ichimoku cloud around $1,650 are high. Price usually pulls back towards cloud support when price breaks below the kijun-sen.

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Black line - bearish divergence

Green rectangle - target

Gold price is pulling back after a new higher high and another bearish divergence in the RSI. We have been talking about this divergence since the upward break out of $1,720 and when we were looking for a top near $1,770-80. Now price has broken below $1,700 and the more it stays below it, the higher the chances of seeing lower levels of support. Even if bulls step back in, the upside potential is limited to a move towards $1,780 area.

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Gold Hovers Near Two-week Low

Trading 27 mai 2020 Commentaire »

Gold prices dipped on Wednesday to hover near their lowest level in two-weeks as businesses begin to reopen and new coronavirus cases decline.

Investors are also pinning hopes on the possibility of additional stimulus, with Japan and Europe expected to inject billions into their economies to minimize the economic fallout due to the coronavirus pandemic.

Spot gold eased 0.25 percent to $1,704.39 per ounce, with growing unrest in Hong Kong over Beijing's proposed national security laws helping limit the downside. U.S. gold futures were down 0.4 percent at $1,698.70.

The Japanese government is likely to inject a fresh stimulus package worth $1.1 trillion on top of a $1.1 trillion package already rolled out by the government last month.

The European Commission is due to present its proposal for a bailout package, potentially backing efforts by France and Germany for a 500 billion-euro ($547 billion) fund to aid recovery efforts.

European Central Bank President Christine Lagarde said on a question and answer session today that the euro zone economy is likely to shrink between 8 percent and 12 percent this year.

On a live webinar, Lagarde said, the actual economic outcome would come between the ECB's "medium" and "severe" scenarios. The mild scenario is outdated.


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