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Euro

EUR/GBP - Can it break the ceiling? *Yellow = 200 EMA | Blue = 100 EMA This is my analysis of EUR/GBP , a pair which has a crossroads ahead of it, particularly this upcoming week. Currently, I see 3 different options : A) Play into Consolidation This is the most probable option especially because we're currently moving on a steep trendline and on bearish divergence. Current price action could eventually trade up to resistance, but it is most likely going to be shot off of resistance and back to its support. B) Play for the All-Time High This is less likely but does offer considerable gains if it does. First, we just broke out of the current price channel and "kissed" off minor support which is in line with the 0.382 level (In the box). Along with that, we see the 100 EMA about to cross the 200 EMA on the 1D indicating strong bullish sentiment. What I think could potentially happen is that price originally respects the upcoming resistance but only retraces to 0.382 Fib level before shooting past resistance and making a play for the all-time high. C) Move down to 0.5 Fib Retracement on the Weekly I don't feel that this is particularly likely, but again, if it does occur it would offer considerable profit and is worth watching for. The 0.5 Fib Retracement on the weekly has been used as support and resistance in the past, and if we break consolidation to the downside it may give us enough momentum to move down to the 0.5 level. Good luck Traders!
Short
by olympus_trading
3
EUR/USD forecastLet’s talk a bit about USD. December job report has been strong with the US economy adding the most jobs since February. However, an increase in average hourly earnings won’t be enough to keep the dollar strong this year. Yes, over the short-term, we will see a rally in USD, but over a long-term dollar will dive. We expect 2 rate hikes this year. In recent speech Powell said all need to be prepared for flexible policy. This message brought worries into the markets. I don’t think investors trust much Powell and Fed. And should they? Greatest periods of economic growth were till Fed was established. What happened after? – Well, 10 recessions, few bubbles, Great Depression… Thomas Edison and Henry Ford warned us about this useless and dangerous system. I am not a Fed hater and I don’t think Fed as institution is a problem. Most important is how it’s managed, its policy and how transparent it is. Fed is trying to do all to keep you (and your money) away from gold and other markets. All they want is to sell their debt notes. Yes, Fed is a huge debt machine. The result will be terrible. I believe the debt bubble will be reason of the next financial crisis. I know many people trade crypto. But I don’t think it has a future. Central banks could make electronic central bank money many years ago. But they didn’t, because they don’t need it. There is no place for crypto in the central banks system. Sooner or later blockchain will be killed, as it happened with Esperanto. To be honest crypto is the 21 century version of tulipomania – don’t spend your money and time on it. Trade and invest into real assets ans it’s derivatives. A few weeks before the finicial crisis Bernanke kept repeating how strong is US economy and no drop of real estate prices will happen, having clear understanding world economy was in danger. What did they do to prevent it? – Nothing. Were they so stupid to fail? – No, they just didn’t care. $ 6 trillions were given out to support banks. Isn’t that funny? – Banks created 2008 crisis playing Mortgage CDO. Always, taxpayers pay for the crisis, not banks or Fed. Think about it, maybe Henry Ford was right and we have to change the system? But let’s come back to making money and see EUR/USD chart. Based on Fibo levels, I expect 1.1425 should be tested So, watch this range and go short if it gets rejected with same sl above daily resistance. Wave 3 should send this pair to 1.11650 and final wave to our target 1.11200. This range should be reversal point and big buying opportunity for long term traders.
by UnknownUnicorn1156963