Trading news

Bearish ABCD Pattern on EUR/USD pair

Bearish ABCD Pattern on EUR/USD pair

https://s23.postimg.org/hcpm862gr/Nenad.jpg

The EUR/USD closed its 2016 book below 1.0550 and in a slow start of 2017 it has formed a bearish ABCD pattern. The spike on Friday was caused by algos and I assume it cleared most stops above 1.0590. Today it is mostly bank holiday, so the market may move slower than usual. Any retest of 1.0590 could be used for positional shorts whereas 1.0550 serves as interim resistance and might be used for positional shorts too. 1.0450 is the first target while the drop below 1.0450 targets 1.0375.

Monday, 02 Jan, 2017 / 10:41

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.admiralmarkets.com/analytics/technical-analysis/

Trading news

 

Unemployment claims, Fed’s Meeting Minutes in the spotlight

Thursday's weekly initial jobless claim figures showed U.S. unemployment [...]

Posted on Friday, 09 Apr, 2021 / 11:31 under

US equities continue to rampage as Powell reassures

Dollar headed for losing week as Fed rate hike bets cool Stock market party [...]

Posted on Friday, 09 Apr, 2021 / 9:26 under

Fed’s Meeting Minutes impact the U.S. Dollar

The Dollar lost ground following the Fed's Meeting Minutes, which revealed a [...]

Posted on Thursday, 08 Apr, 2021 / 12:21 under