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Showing posts with the label mario draghi

Eurusd rally is not over

Eurusd is trading currently at 1.1635$ , up almost 50 pips from last night close. As recommended earlier last friday , long the euro to 1.20$ , however I will be advising short term trades as well , all of them will be on the buy side ofcourse , because you can not against the flow. Keep following for updates. The low on the day is 1.1578$ , high is 1.1645$ , the pair is currently testing a bearish trendline and it has to be broken before the euro continues its rally towards 1.20$ Next strong resistance is 1.1740$ which acted as 4 tops , and we have strong support at 1.1540$ .... Maybe we will trade the 200 pips for one more round but i really doubt it . I expect tge break of 1.1740$ next time it is gonna be tested.

Buy gbpusd at 1.3250$

Gbpusd has made several tops at 1.3440$ and reversed to 1.3250$ currently. The fall was initiated by draghi , the head of ECB lowering growth forecast from  2.4% to 2.1% and keeping interest at all time low. Brexit negotiations are ofcourse the main blame or fame for any move in Gbp/usd Technically speaking , 1.3250$ is very important support for the pait and if broken , the pair will be terribly bearish and might head towards 1.3080$ area . On the upside , 1.3340$ is a tough resistance for the pair .