Vistabrokers
Vistabrokers Representative
- Messages
- 2
EUR / USD. Apocalypse Was Cancelled!?..
We should definitely mention a kind of immunity that markets had to develop over the endless Greek tragedy. Thus, earlier market experts were expounding various apocalyptic scenarios about the collapse of the synthetic formation called "the euro zone" in a case of Greek default, but now forecasts have become much more modest, given that the market has remained fairly stable after Sunday's referendum and earlier (when Greece has missed the payment to IMF). One of the key technical analysis postulates states that "prices take everything into account", which means that all projections and assumptions are already accounted in current prices. Earlier we have mentioned the formation of the graphic figure like "symmetrical triangle", where were converging graphic borders. So, if the price leaves its borders, it will give us the reason to open a position in the direction of the breakthrough, and it is meaningless to talk about "to be or not to be". Any trade action will not be justified until the market itself shows the direction.
It is recommended to focus on "triangle" borders and use their breakthrough as a signal to enter the market in the direction of the breakthrough.
Volatility: 47%
Trend: sideways
Fundamental background: moderate
GBP / USD Sees how the Land Lies
The British currency could catch hold of the important support line, thereby interrupting a decline in borders of a short-term downward correction. Here, according to the first rebound, bulls are going to resume the interrupted trend, using current technical opportunities, and not just them, because today is also expected a fundamental reason to buy. Thus, at 08.30 GMT in theUK will be published May industrial production data, which in case of predicted values exceeding may act as a catalyst of growth.
It is recommended to go long ion a breakthrough of 1.5631 to reach the resistance line of the current downtrend. A break of this line will open GBP / USD the way to June highs above 1.59.
Volatility: 67%
Trend: bearish
Fundamental background: moderate
We should definitely mention a kind of immunity that markets had to develop over the endless Greek tragedy. Thus, earlier market experts were expounding various apocalyptic scenarios about the collapse of the synthetic formation called "the euro zone" in a case of Greek default, but now forecasts have become much more modest, given that the market has remained fairly stable after Sunday's referendum and earlier (when Greece has missed the payment to IMF). One of the key technical analysis postulates states that "prices take everything into account", which means that all projections and assumptions are already accounted in current prices. Earlier we have mentioned the formation of the graphic figure like "symmetrical triangle", where were converging graphic borders. So, if the price leaves its borders, it will give us the reason to open a position in the direction of the breakthrough, and it is meaningless to talk about "to be or not to be". Any trade action will not be justified until the market itself shows the direction.
It is recommended to focus on "triangle" borders and use their breakthrough as a signal to enter the market in the direction of the breakthrough.
Volatility: 47%
Trend: sideways
Fundamental background: moderate
GBP / USD Sees how the Land Lies
The British currency could catch hold of the important support line, thereby interrupting a decline in borders of a short-term downward correction. Here, according to the first rebound, bulls are going to resume the interrupted trend, using current technical opportunities, and not just them, because today is also expected a fundamental reason to buy. Thus, at 08.30 GMT in theUK will be published May industrial production data, which in case of predicted values exceeding may act as a catalyst of growth.
It is recommended to go long ion a breakthrough of 1.5631 to reach the resistance line of the current downtrend. A break of this line will open GBP / USD the way to June highs above 1.59.
Volatility: 67%
Trend: bearish
Fundamental background: moderate