Million Dollar Pips Review , Discount , Bonus Package

You might have run into additional Foreign exchangeForeign currency bots available on the internet just before. If that’s the situation, wagerI am sure the actual inventor distributed to the tale connected with exactly how he or she had been shattered, eager, unfortunate, sobbing, and so forth. After that, he or she satisfied somebody that were built with a Foreign exchange robotForeign exchange buying and selling program, which he “made the wager” he might enhance this, and whenso when he or she been successfulbeen effective, he or she can keep the actual automatic robot. Yes… it is a processed tale. It isn’t my personal tale.

 MILLION DOLLAR PIPS

I WANT YOUR HEART TO RUSH IN EXCITEMENT AS CASH FALLS IN YOUR HANDS !!!!!

 

I am likely to beI’ll be really, really directly together with you. I wasn’t therefore shattered which i had been lookingsearching being homelessbeing destitute hard after i chose to make this software program, however i had been each one of the subsequent issues, jerkjerk should you connect:

Therefore, We built my personal Foreign exchangeForeign currency revenue device inside a groundbreaking Completely new method, getting a entire lot of recent html coding, as well as do a couple of checks. The final results, absolutely no joking, produced my personal mouth area watery

 

 

 

Used to do numerous checks as well as want to demonstrate all of them.  These checks tend to be documents which are largetoo big provento become presented in this article, therefore make certain you type in your own e-mail deal with beneath which i may immediately e-mail a person my personal checks exhibiting the earnings Billion dollar Pips accomplished

 

According to Five years connected with screening utilizing top quality information, by getting an preliminary lower payment connected with $250, all of us finish track offinish up getting an amazing $10,821,556.Forty getting a maximum chance of Six.82% from the accounts!

Used to do numerous checks as well as want to demonstrate all of them. These checks tend to be documents which are largetoo big provento become presented in this article, therefore make certain you type in your own e-mail deal with beneath which i may immediately e-mail a person my personal checks exhibiting the earnings Billion dollar Pips accomplished !!!

 

WAIT THERE’S A 60 DAYS MONEY BACK GUARANTEE WHEN YOU ORDER WITH US…

NO QUESTION WILL BE ASKED …

YOUR DREAM ABS ARE ASKING YOU TO BRING THEM OUT !!!

WHAT ARE YOU WAITING FOR ???? GET THE MILLION DOLLAR PIPS NOW

 

 

 

How To Claim Your Bonuses??????????????????

Sure you are wondering how to get this cool Million dollar pips package right? Well worry no more, here are the simple steps you need to take:

Step #1 – Ensure That You Clear Your Cookies – this step is very vital to you receiving my bonuses. If you don’t clear your cookies, you risk buying through another affiliate’s link and miss out on my bonuses. If you don’t know how to clear your cookies, here’s a simple tutorial that explains everything >>==> click here to learn how to clear your cookies!

Step #2 – Buy Million Dollar Pips Through My Link! To be sure that you are buying through my link, here’s what you should do: When you are on the order page, scroll to the bottom of the page and check if you see [affiliate=kianleong7].

Step #3 – Send me an email with the title [Million Dollar Pips] to admin[@]milliondollarspips.net (remove square brackets) with the transactionID and I’ll take care of the rest!

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

WTI/USD – Crude Close to 13-week Lows, US Numbers Sparkle

marketpulse

US crude has posted slight losses on Tuesday, continuing the downward trend which started late last week. In the North American session, WTI/USD futures are trading at $ 42.85. Brent crude is trading at $ 44.49, as the Brent premium stands at $ 1.64. On the release front, US key indicators looked sharp, as CB Consumer Confidence and New Home Sales both beat expectations.

There was positive news out of the US, which posted two key events on Tuesday. CB Consumer Confidence dipped to 97.3 points in July, lower than the June reading of 98.0, but nonetheless another excellent release. New Home Sales followed suit, jumping to 592 thousand in June. This figure easily beat the forecast of 560 thousand. There was more good news from the manufacturing sector, as the Richmond Manufacturing Index surged, posting a reading of plus-10 points. This crushed the forecast of minus-4 points.

Crude prices continue to lose ground. On Tuesday, the commodity has dipped below the $ 43 line and is close to its lowest level since mid-April. WTI/USD has plummeted 6.2% in less than a week. US crude inventory reports continue to point to declines week after week, but crude prices haven’t rebounded due to the oversupply of crude. Drilling activity in the US is on the upswing, as the number of US drilling rigs continues to increase. This is raising concerns that higher production levels in the US will exacerbate supply levels and push down crude prices towards the symbolic $ 40 level.

The ECB and BoE recently held the course on interest rates, the Federal Reserve is likely to follow suit. The Fed meets for a policy meeting on Wednesday and is widely expected to maintain current interest rate levels of 0.25% – 0.50%. However, with the US posting some solid numbers in the past few weeks, speculation has risen that the bank could raise rates before the end of the year. Another rate hike will be data-dependent, so if key indicators beat expectations, the likelihood of a rate hike will continue to increase. Still, there are some key factors which mitigate against a hike in the next few months. First, inflation remains stuck at low levels, well short of the Fed’s target of around 2 percent. Fed policymakers will be hesitant to raise rates if inflation is not projected to point upwards. Second, most of the recent data is from June, and does not fully take into account the Brexit vote on June 23. Fed members have expressed concern about the economic fallout from Brexit, and will want to review releases coming out in August and September in order to gauge the effects of Brexit.

WTI/USD Fundamentals
Tuesday (July 27)

  • 9:00 US S&P/CS Composite-20 HPI. Estimate 5.6%. Actual 5.2%
  • 9:45 US Flash Services PMI. Estimate 51.2. Actual 50.9
  • 9:59 US Richmond Manufacturing Index. Estimate -4. Actual +10
  • 10:00 US CB Consumer Confidence. Estimate 95.6. Actual 97.3
  • 10:00 US New Home Sales. Estimate 560K. Actual 560K

Upcoming Key Events
Wednesday (July 27)

  • 8:30 US Core Durable Goods Orders. Estimate 0.3%
  • 14:00 US FOMC Statement
  • 14:00 US Federal Funds Rate. Estimate <0.50%

*Key events are in bold
*All release times are EDT

WTI/USD for Tuesday, July 26, 2016270716nWTI/USD July 26 at 9:10 EDT
Open: 43.23 High: 43.28 Low: 42.37 Close: 42.85

WTI USD Technical
270716o

  • WTI/USD was flat in the Asian session and posted slight losses in the European session. The pair posted considerable gains early in North American trade but has reversed directions and resumed a downward movement.
  • 39.32 is providing support
  • 43.45 is a weak resistance line

Further levels in both directions:

  • Below: 39.32, 35.25 and 30.55
  • Above: 43.45, 46.69, 50.13 and 53.50

About Kenny Fisher

Kenny Fisher Currency Analyst, OANDA, Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years. Follow on and on his Google+ profile.

The post WTI/USD – Crude Close to 13-week Lows, US Numbers Sparkle appeared first on ForexNews.com.

ForexNews.com

Read More

COT-British Pound Ownership Profile Warns of a Bottom

  • Extreme British Pound ownership profile
  • Another record in silver ownership profile
  • Copper speculators flip to net long position

For more analysis and trade setups, visit SB Trade Desk

Subscribe to Jamie Saettele’s distribution listin order to receive several free reports per week

The COT Index is the difference between net speculative positioning and net commercial positioning measured. A blue colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bullish) with speculators selling and commercials buying. A red colored bar indicates that the difference in positioning is the greatest it has been in 52 weeks (bearish) with speculators buying and commercials selling. Non-commercials tend to be on the wrong side at the turn and commercials the correct side. Use of the index is covered closely in detail in my book.

Latest CFTC Release dated July 19th, 2016

Week (Data for Tuesdays)

52 week Percentile

US Dollar

28

Euro

33

British Pound

0

Australian Dollar

90

Japanese Yen

57

Canadian Dollar

90

Swiss Franc

71

Mexican Peso

69

Gold

92

Silver

100

Copper

100

Crude

73

Charts (all charts are continuous contract)

Non Commercials (speculators) – Red

Commercials – Blue

Small Speculators – Black

COTDiff (COT Index) – Black

US Dollar ICEUS Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Euro CME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Euro CME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Australian DollarCME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Japanese YenCME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Canadian DollarCME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Swiss Franc CME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Mexican Peso CME Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Gold COMEX Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Silver COMEX Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Copper COMEX Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

Crude Oil NYMEX Continuous Contract

COT-British Pound Ownership Profile Warns of a Bottom

Chart prepared by Jamie Saettele, CMT

— Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter for real time updates @JamieSaettele

Jamie is the author of Sentiment in the Forex Market and co-founder of SB Trade Desk.


DailyFX – Feeds all

Read More

http://1mslxp2btvx9409oou16vbbv.wpengine.netdna-cdn.com/wp-content/uploads/2016/05/160x100_Logo-1

Top trade idea for July 26th, 2016 – AUD/USD

160x100_Logo-1

AUDUSD has turned down from 0.7834 high in May after wave C-circled completed a big corrective wave IV flat pattern. A flat has a 3-3-5 sub-wave structure, so it was a contra-trend movement that should send price back to the lows. So far, market made a very good and strong bearish turn to 0.7130 with clearly impulsive personality, thus we believe that big black wave V is underway. That been said,  we are looking lower as long as 0.7834 holds, so bounce is most-likely only a corrective wave two that can be near completion as three sub-waves are already visible.

AUDUSD, Daily

audusd d

On the lower time frame, Aussie has been trading higher at the start of this month, towards 78.6% Fibonacci retracement level that turned into a resistance based on recent 230 pip sell-off shown on 4h chart. We see first evidences that market has accomplished a deep corrective rally since end of May. Also, it would be nice to see even more downside in the near-term, with a possible drop through a channel support line that would put market in a very strong bearish mode. At the moment we see price turning up from recent lows, possibly a corrective set-back that could find its resistance near the 61.8 Fibonacci ratio.

AUDUSD, 4H

audusd 4

About Gregor Horvat

Gregor Horvat, based in Slovenia, has been in the forex markets since 2003. He is a technical analyst and individual trader who has worked for Capital Forex Group and TheLFB.com. He also is founder of forex services on www.ew-forecast.com. EW-Forecast.com provides technical analysis of the financial markets, highlighting behavioral patterns based on the Elliott Wave Principle (EWP). Website: http://www.ew-forecast.com/ Try EW-Forecast.com’s Services Free For 7 Days at http://www.ew-forecast.com/service

The post Top trade idea for July 26th, 2016 – AUD/USD appeared first on ForexNews.com.

ForexNews.com

Read More

USD/CAD Breakout Potential Persists as Crude Oil Breaks Down

Talking Points:

- Important week for US Dollar – FOMC could spark next leg higher.

- USD/CAD hasn’t achieved C$ 1.3145 on a closing basis, yet.

- As market volatility stays elevated post-Brexit, it’s a good time to review risk management principles.

Once again last week, USD/CAD failed to close through the key C$ 1.3145 level, despite the first test of levels above since the middle of May. For one, the market seems to be shaking off the surprising bout of Canadian economic data at the end of last week. Instead, there are two drivers in play right now: rising Fed rate expectations; and falling Crude Oil prices.

With Fed funds futures contracts implying June 2017 as the most likely period for the Fed’s first rate hike, there has been a material shift forward from pricing pre-NFPs. Inherently, this has translated into broad support for the US Dollar. Concurrently, as the greenback has strengthened, assets priced in USD have fallen; precious metals (Gold, Silver) and energy (Crude Oil, Brent Crude) alike. Crude Oil itself is starting to establish a new trend of lower highs and lower lows, having just cleared out its mid-July swing lows (chart 1 below).

Chart 1: Crude Oil (CFD: USOIL) H4 Chart (May 8 to July 25, 2016)

USD/CAD Breakout Potential Persists as Crude Oil Breaks Down

As Crude Oil gathers pace below $ 44.40, its bearish momentum structure has solidified on the H4 timeframe. Price remains below its 8-, 21-, and 34-EMAs, while Slow Stochastics and MACD continue to trend lower in bearish territory. A move to the May 9 low of $ 43.03 over the coming sessions is increasingly possible. Accordingly, the recent breakdown in Crude Oil technicals fits neatly with the bullish technical structure of USD/CAD (chart 2 below).

Chart 2: USD/CAD Daily Chart (March to July 2016)

USD/CAD Breakout Potential Persists as Crude Oil Breaks Down

The case for a USD/CAD breakout through C$ 1.3145 remains valid, particularly as Crude Oil slips lower. The short-term bearish momentum structure in Crude Oil is matched by USD/CAD’s more intermediate bullish technicals: price is above its 8-, 21-, 34-EMAs on the daily chart; and Slow Stochastics and MACD are trending higher in their respective bullish territories.

Chart 3: Inverse USD/CAD versus Price of Crude Oil (2015-2016)

USD/CAD Breakout Potential Persists as Crude Oil Breaks Down

True, the relationship between the Canadian Dollar and Crude Oil has weakened a bit in recent weeks (chart 3 above), but much of this has to do with the Brexit-related shock after June 24. Instead, with the 20-day correlation steadying above +0.60, we still believe there is strong evidence that what’s bad for Crude Oil will ultimately be bad for the Canadian Dollar.

Read more: Pressure Back on EUR/USD as Market Sees Looser ECB, Tighter Fed

— Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form


DailyFX – Feeds all

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

EURUSD – Will New Low Trigger Broader Decline?

marketpulse

The euro has taken a turn lower against the dollar late in the European session, falling to its lowest level since 24 June, when it tanked on news that the U.K. had voted to leave the E.U.

The pair had established a relatively tight trading range over the four weeks following the result – between 1.10 and 1.1160 – and it seems the constant pressure on the range support in recent days has proven too much for the bulls.250716lSource – OANDA fxTrade Platform

A break of this support level could now trigger another push lower, with the next test coming around 1.0910, the lows of 24 June.

OANDA MP – Weak PMIs Hit Sterling (Video)

While this may offer some support, the break of 1.10 could indicate that a larger move to the downside has been triggered, with 1.08-1.0820 being the next major zone of support for the pair.250716mFor now, the pair has found temporary support around 1.0970, the lows of 27 June, but I think this could prove to be temporary, with the break of 1.10 potentially adding to the bearish sentiment. A daily – and therefore weekly – close below 1.10 could further add to this.

Despite reducing their short exposure, OANDA clients remain net short on this pair as it hit a new four week low.250716nThere also appears to be a number of long and short open orders around 1.0950 which could suggest this is going to be an interesting level.250716oTo get access to the historical positions and order book tools, above, visit OANDA Forex Labs.

About Craig Erlam

craigBased in London, England, Craig Erlam joined OANDAin 2015 as a Market Analyst. With more than five years’ experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic research. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.

The post EURUSD – Will New Low Trigger Broader Decline? appeared first on ForexNews.com.

ForexNews.com

Read More

British Pound Trade Seems too Good to be True – Watch Key Risk

British Pound Trade Seems too Good to be True – Watch Key Risk

British Pound Trade Seems too Good to be True – Watch Key Risk

Fundamental Forecast for GBP: Bearish

The British Pound finished the week almost exactly unchanged against the Dollar despite clear disappointments in UK economic data. A busy economic calendar in the days ahead could nonetheless have a lasting impact on trader sentiment, and the stakes are high heading into a critical Bank of England interest rate decision in two weeks’ time.

The upcoming release of UK Q2 Gross Domestic Product growth numbers will give investors a close look at the economy’s relative strength heading into the UK Referendum. And though we will have to wait some time before we see the ultimate impact of the so-called “Brexit” on GDP, any signs the economy was faltering before the vote would almost certainly worsen outlook after the fact. Recent industry surveys suggested the UK economy contracted at its steepest pace since the Global Financial Crisis through July. The disappointing figures forced an immediately sell-off in the GBP, and interest rate traders now predict a near 90 percent chance that the Bank of England will cut interest rates at their August 4 meeting.

Suffice it to say economic sentiment remains gloomy for the world’s sixth-largest economy. And yet by the same token the weight of expectations on future economic data is so low that even a small positive surprise could force an important British Pound relief rally. Recent CFTC Commitment of Traders data shows large speculators are now at their most net-short GBP/USD since the week of June 3, 2013.

Clearly the GBP remains in a strong downtrend, and yet it is demonstrably true that extremely one-sided short positioning raises the risk of sharp short-covering rallies. We need only look to the British Pound’s fast rally on July 20 following unexpected comments out of Bank of England voting member Kristin Forbes. Forbes stood in sharp contrast to BoE Governor Mark Carney as she suggested the central bank’s Monetary Policy Committee should not cut interest rates until there is more evidence of a post-Brexit economic slowdown. It is certainly newsworthy that a voting member would so candidly break rank and speak out against rate cuts. Yet her words alone do little to change broader outlook for the future of Bank of England policy, and the yield-sensitive British Pound now trades almost exactly where it stood before she made such remarks.

Traders should thus brace for British Pound volatility as any surprises out of GDP figures, and ultimately the focus remains on whether the Bank of England will move to cut interest rates and ease policy at their August meeting. The broad trend favors further British Pound weakness and the macroeconomic backdrop supports calls for GBP declines. Yet the risk is clear—extremely one-sided positions raise the risk of sharp relief rallies. Caution is advised in trading the Sterling given the clear uncertainty ahead. – DR


DailyFX – Feeds all

Read More

http://www.forexnews.com/wp-content/uploads/2013/11/marketpulse.png

WTI/USD – Oil Steady at $45 on Strong Housing and Employment Numbers

marketpulse

US crude is almost unchanged in Wednesday trading. In the North American session, WTI/USD futures are trading at $ 45.41 per barrel. Brent crude is trading at $ 46.87, as the Brent premium has narrowed to $ 1.46. On the economic front, US indicators were mostly positive, as Unemployment Claims and Existing Home Sales both beat expectations. However, the Philly Fed Manufacturing Index was well short of the estimate, posting a decline of 2.9 points.

US crude stockpiles continue to decrease, according to the Energy Information Administration. The EIA published its weekly inventory report on Wednesday, and the indicator showed a decline of 2.3 million barrels, a much larger draw-down than the estimate of 1.3 million. Continuing large declines in US stockpiles should push crude prices higher due to stronger demand, but this isn’t occurring, due to a continuing oversupply of crude. Drilling activity in the US is on the upswing, as the number of US drilling rigs continues to increase. This is raising concerns that higher production levels in the US will exacerbate supply levels and push down crude prices. In late June, US crude broke above the $ 50 level, but has since dropped about 10 percent as it hovers at around $ 45.

The Federal Reserve will meet for a policy meeting on July 27 but is unlikely to announce a rate cut at that time, given current economic conditions. Is the Federal Reserve leaning more towards a rate hike before the end of the year? The markets appear to think so, as the chances of a rate hike this year has been priced in at 47%, up from just 20% at the start of July. This positive sentiment is a result of strong retail sales and housing reports over the past week. Another rate hike will be data-dependent, so if key indicators beat expectations, speculation of a rate hike will continue to increase. However, the Fed will be hesitant to make a move if inflation remains stuck at very low levels, nowhere near the Fed’s target of around 2 percent.

WTI/USD Fundamentals
Thursday (July 21)

  • 8:30 US Philly Fed Manufacturing Index. Estimate 5.1. Actual -2.9
  • 8:30 US Unemployment Claims. Estimate 271K. Actual 253K
  • 9:00 US HPI. Estimate 0.4%. Actual 0.2%
  • 10:00 US Existing Home Sales. Estimate 5.48M. Actual 5.57M
  • 10:00 US CB Leading Index. Estimate 0.2%. Actual 0.3%
  • 10:30 US Natural Gas Storage. Estimate 40B

*Key events are in bold
*All release times are EDT

WTI/USD for Thursday, July 21, 2016220716kWTI/USD July 21 at 11:20 EDT
Open: 45.69 High: 46.09 Low: 45.25 Close: 45.41

WTI USD Technical
220716l

  • WTI/USD posted small gains in the Asian session but gave up these gains in the European session. The pair is unchanged in North American trade
  • There is resistance at 46.69
  • 43.45 is providing support

Further levels in both directions:

  • Below: 43.45, 39.32 and 35.25
  • Above: 46.69, 50.13 and 53.50

About Kenny Fisher

Kenny Fisher Currency Analyst, OANDA, Kenny Fisher joined OANDA in 2012 as a Currency Analyst. Kenny writes a daily column about current economic and political developments affecting the major currency pairs, with a focus on fundamental analysis. Kenny began his career in forex at Bendix Foreign Exchange in Toronto, where he worked as a Corporate Account Manager for over seven years. Follow on and on his Google+ profile.

The post WTI/USD – Oil Steady at $ 45 on Strong Housing and Employment Numbers appeared first on ForexNews.com.

ForexNews.com

Read More

Retail Traders Hold Most Extreme S&P 500 Net Short Position in 2 Years

Talking Points

  • S&P 500 net short exposure rose to a 2-year high of 92 percent
  • With the index hitting record highs this past week, traders seem intent on calling a reversal
  • Want to learn more about the DailyFX SSI indicator? Click here to watch a tutorial.

Having trouble trading indexes such as the S&P 500? This may be why.

In early February 2016, the S&P 500 index hit a 2-year low of 1,807.50 – as can be seen on the chart below. At the time, the Speculative Sentiment Index (SSI) showed that 56 percent of retail CFD traders were net long – barely a majority but the most bullish for the group in a long time. Since then, the S&P 500 rallied more than 20 percent and the slight bullish majority quickly transitioned into an intense bearish crowd.

As of Friday’s close, the S&P 500 stood at a record high. Meanwhile, showing an exceptional skepticism, the percentage of traders looking to ride further advance (long the index) shrank to a paltry 8 percent, the smallest percentage in 2 year low. The SSI is a contrarian indicator at extreme levels. In this case, since roughly 92 percent of traders are short the S&P 500, the standard interpretation of investors’ appetites to pick tops and bottoms would suggest further gains may be in order. However, with a laundry list of high-profile event risk including the FOMC rate decision; US, Eurozone and UK GDP figures; and ECB’s bank stress test results due, caution and close monitoring of the newswires will be crucial.

Retail Traders Hold Most Extreme S&amp;P 500 Net Short Position in 2 Years


DailyFX – Feeds all

Read More

http://1mslxp2btvx9409oou16vbbv.wpengine.netdna-cdn.com/wp-content/uploads/2013/04/cmc.jpeg

Top trade idea for July 22nd, 2016 – EUR/USD

cmc

Draghi’s dilemma puts EURUSD double bottom in play

The ECB’s caution on post Brexit stimulus has seen the Euro pause at chart support. Today’s Flash PMI data might decide whether this turns into a full corrective rally

Yesterday, the ECB signalled its perfectly sensible intention to wait until it has a clearer picture of the economic impact of Brexit before adding more stimulus. The Bank of England recently adopted a similar position but was a bit more forthright about the likelihood of acting at its August meeting.

This ECB hesitation has halted the momentum of recent US Dollar strength. It was assisted by a BBC interview with Bank of Japan Governor Kuroda where he said the BOJ was not planning to use “helicopter money” stimulus.

Flash PMI data. We have not yet had much economic data on what impact the Brexit vote has actually had on economic activity. Today’s Flash PMI data will provide some early insight. These indices are designed to provide an early read on manufacturing conditions around the world during July. Weak data will add to the case for more stimulus by the BOE and ECB and a delay to any Fed tightening. Strong data suggesting Brexit hasn’t actually affected things much will increase the chances of a Fed hike this year and be bullish $ US. Markets will also focus on any differences between the economies.

EURUSD chart.  The Euro might be completing a double bottom pattern at the 78.6% Fibonacci retracement level. This coincides with a harmonic AB=CD pattern. A move above the double bottom resistance would complete the pattern setting up for a potential rally.

1

About Ric Spooner

Ric Spooner is Chief Market Analyst at CMC Markets in Sydney. He has over 30 years experience in derivates markets, and was previously a Managing Director at Sydney Futures Exchange Clearing, General Manager at JBWere Futures and Manager at Elders Futures.

The post Top trade idea for July 22nd, 2016 – EUR/USD appeared first on ForexNews.com.

ForexNews.com

Read More

http://www.forexnews.com/wp-content/uploads/2016/07/EURUSDH1-150x150.png

Top trade idea for July 21st, 2016 – EURUSD

EURUSDH1

Ahead of the ECB today I would like to show a bearish pattern in the makings on the EURUSD pair and it doesn’t really matter if it is going to be a Euro related move lower or a US dollar move higher, the path of least resistance here is the downside and not the upside.

In technical terms, the EURUSD is forming an impulsive wave with the second wave most likely not being completed yet and probably being a running correction. It means it will end lower and from that point on we should apply the minimum extension or the measured move the find out the potential end for the third wave.

From a fundamental point of view, this press conference today is going to be an important one as it is the first one after the UK voted for Brexit and finding out what Draghi’s opinion is will be crucial for markets.

Expect a lot of volatility surrounding the event and a lower Euro is the most likely outcome, with 1.0788 take profit and 1.1150 being on the cards, maybe even today.

About Mircea Vasiu

capital properties fxMircea Vasiu has an MBA in International Business from an American University, graduating Magna Cum Laudae. He has been a professional trader for the last 8 years and is involved in various educational projects for different financial companies. He also runs a trading signal for the currency markets at www.capitalpropertiesfx.com.

The post Top trade idea for July 21st, 2016 – EURUSD appeared first on ForexNews.com.

ForexNews.com

Read More