Forex FOREX PRO WEEKLY, March 16 - 20 , 2020

[Ugyen Penjore]

Hi mate, well, this is not just the crisis of production but consumption as well. May be I'm wrong, but I do not see reasons for price increase on food. Speaking on education expenses - it is difficult to answer, because its rather specific. In general it should not be affected too much, especially on global travelling ban. But, I'll not bet on it , this is just common thoughts.

Thank you Sive. Helps to hear out your thoughts to plan my journey.

 

[minimax]

€$ could start up move OR it might stay here until NY open and let them to decide or break 162 expansion into impulsive wave or to make up move...

 

[sveckar22]

Guys take a look at how odds on the US Presidential Election winner changed since the beginning of the year. I took the first screen shot on 9th January 2020, a few weeks ago I saw odds on Donald Trump being as low as 1.60, today they stand at 2.10 on Bwin, with bookmakers now giving the best chances to Joe Biden.

 

[minimax]

No more trade war, now is blame war..
The Communist Chinese regime needs to sit down and shut up.

Chinese cultures are different but ..

 

[Sive Morten]

Morning guys,

Today we have no hot topics for discussion. EUR has destroyed last bullish setup that was possible yesterday and dropped below major daily 5/8 Fib support. It means that there we have no bullish setups now and could consider only daily steep downside AB=CD with OP around 1.08 lows.

Meantime, on GBP market comes to our target, according to weekly analysis. This is 1.1925 XOP area. It is tricky that target stands below recent lows and we probably will see either strong sell-off or W&R and moderate upside bounce.

GBP action also should make impact on EUR, because of weekly EUR/GBP chart. Cross comes to decisive 0.93 top of the range. W&R on GBP means that cross could turn back inside the range, while drop through the lows could mean action to 0.99 - 1.0 on EUR/GBP. That's why this is very interesting moment.

Anyway we intend to follow trading plan on GBP and first we consider B&B "Sell" on first upside pullback there. Probably we should get solution of this riddle within few sessions

 

[minimax]

€$ could be in zone for pullback.. but pressure on stocks should stop too..

 

[minimax]

Cable could be down there too..

 

[Sive Morten]

Morning guys,

Yesterday we've talked about interesting relation between EUR and GBP and just with one session it shows great progress. Now we better understand the tendency - it is flat or weak bullish on EUR and bearish on GBP.

First is on EUR - price has completed our steep daily AB=CD pattern and today we watch for moderate pullback, at least it is suggested by technical picture. If price stands around this level till the end of the week - we will get weekly bullish grabber which agrees with our EUR/GBP theory, as you will see lower:

On 1H chart it should be some upside AB=CD, or, maybe even reverse H&S if retracement will be stronger. As a target we choose daily K-resistance area around 1.1050:

Cable in turn, has dropped below 1.19 lows as hot knife through the butter. Now it stands just 100 pips above our monthly major 1.13 target. This is 1.27 extension of the butterfly. Next target is 1.05.

Following this logic upside breakout of EUR/GBP looks truth one. It means that cross is coming to parity:

It is difficult to say how mutually EUR and GBP will move, but we are based on current dynamic, that probably will continue in nearest time. It suggests stronger EUR compares to GBP dynamic.

 

[Major_Tom]

This is MACD predictor on EURUSD Quaterly

 

[minimax]

I think €$ is in final stage..