Euro News

The USD/JPY consolidated last week, and then began to trend upwards on Friday. There is a Bullish Confirmation Pattern in the 4-hour chart, and since the outlook on JPY pairs remains bullish for this week, the USD/JPY would also normally trend further upwards. The targets for this week are located at the supply levels of […]

Here’s the market outlook for the week: EURUSD Dominant bias: Bearish This pair made some bullish attempt in the first few days of last week. Price rallied 300 pips, testing the resistance line at 1.0850, before it began a serious bearish movement. The bullish gains that were initially made last week, were eventually lost as […]

WHAT YOU NEED TO KNOW ABOUT MASTER TRADERS – PART 22 “It never ceases to amaze me the impact that controlling your losses has on your performance.” – Chris Tate Name: Crispin Odey Date of birth: January 31, 1959 Nationality: British Website: Odey.com A QUALIFIED LAWYER BECOMES A TRADER Crispin was born in east Yorkshire […]

The UK suffered a slump in figures for October’s manufacturing sector, which surprised the markets as investors were expecting a continual rise. The figures, which showed a 0.9% drop against September’s 0.6% rise, impacted GBP throughout the day and clawed back Sterling’s positive move upwards over the past week. Meanwhile, Theresa May is being pressed […]

Volatility following the Italian referendum has already calmed, although political uncertainty within Italy and Europe will continue to be a theme. So, we now shift focus to the ECB meeting taking place tomorrow afternoon. The ECB are expected to extend its QE programme by six months, and continue purchases at a level of 80bn per […]

GOLD (XAUUSD) Dominant Bias: Bearish Gold trended downwards throughout last November, dropping over 16,000 pips from the high of 1336.98 on November 9. The overall bias is bearish, and therefore, the bearish movement is supposed to continue till the end of the year. Right now, price is consolidating, and that is what it has done […]

Euro tested after Italian referendum The euro bounced strongly on Monday, after its initial knee-jerk reaction to Italy’s referendum and yesterday’s price action appears to have put in a near-term base. Cable however is still sitting higher, as it trades off the back of headlines coming from the High Court appeal over Brexit. That said, […]

President Elect Donald Trump has used Twitter to warn US companies about moving jobs overseas in the coming financial year, stating ‘35% tax on companies wanting to sell their products back across the border’. He took aim at US companies who want to produce products from outside the US, then sell them back into the […]

Sterling has opened this morning with huge gains, as Italian Prime Minister was somewhat destroyed in his attempt to reform the political structure. PM Matteo Renzi has resigned following the result, leaving the Italian political infrastructure exposed and not helping the debt positions the country currently has. The now Ex Italian PM, had promised to […]

The GBP/USD ended a two-week consolidation by breaking upwards significantly, just as it was already anticipated. Price went upwards 330 pips, closing above the accumulation territory at 1.2700. GBP would rally versus some majors this week, and as it is rallying versus USD (which is also strong in its own right), further bullish movement is […]