EUR/NZD – Updated Analysis

The president of the ECB, Christine Lagarde, stated at yesterday’s press conference that the economic activity in Europe has lost significant momentum in the fourth quarter with the surge in coronavirus cases adding to the already heightened level of uncertainty. Beginning on the daily time frame, paying close attention to the latest candle closure, weContinue reading “EUR/NZD – Updated Analysis”

EUR/NZD – Euro Risk Remains

Europe is turning to mass testing to contain the pandemic that has forced nations into lockdowns which cannot be sustained. Over the course of the past weekend, Slovakia attempted to test its entire adult population and the surrounding nations are looking to follow suit. On the 4-hour time frame, with the same fib placed asContinue reading “EUR/NZD – Euro Risk Remains”

EUR/NZD – Euro Facing Downside Risk

The eurozone economy grew rapidly in the third quarter posting a 12.7% growth in GDP over the last quarter but with coronavirus infections increasing and new restrictions being implemented, downside risk is likely to continue. Looking at the daily chart above, we can see that this pair was trending to the upside creating higher highsContinue reading “EUR/NZD – Euro Facing Downside Risk”

EUR/JPY – Potential Continuation to the Upside

Today, we will be going over the euro versus the Japanese yen. In the previous blog on this pair, we were looking at the psychological round number of 123.000 holding as support which was achieved. Price went on to create a higher high which saw a 160 pip move to the upside, coming a fewContinue reading “EUR/JPY – Potential Continuation to the Upside”

EUR/JPY – Updated Analysis

In the previous blog on this pair, we were looking at a pullback to complete a potential inverse head and shoulder. Although this was not achieved, once we had the candle closure above the ascending parallel channel, price went on to climb 150 pips to the upside. On the daily chart above, we had aContinue reading “EUR/JPY – Updated Analysis”

EUR/NZD – Technical Analysis

Today, we’ll be going over the Euro versus the New Zealand dollar with technical analysis starting on the daily time frame. On the daily chart above, we can see that a new high was made on the 23rd of September when the price closed above the previous high of 1.77850. Looking at the fib toolContinue reading “EUR/NZD – Technical Analysis”

EUR/JPY – Technical Analysis

Looking at the Euro versus the Yen, price has pulled back significantly since printing the post crisis high of 127.07 on September 1st. Below is a top down analysis of this pair starting on the daily chart. On the chart above, we can see a fib plotted from the start of the most recent bullishContinue reading “EUR/JPY – Technical Analysis”

USD/CAD – Technical Analysis

Today we’ll be going through the lower time frames on the U.S. dollar versus the Canadian dollar. With price continuing to create higher highs and higher lows, let us look at a potential long set-up. On the 4 hour chart above we can see that the neck line of the inverse head and shoulder asContinue reading “USD/CAD – Technical Analysis”

European Central Bank Looking to Hold Rates

There were 4 key monetary policy decisions made today at the ECB’s Monetary Policy Meeting. It was speculated that the ECB would consider cutting interest rates in order to combat the deflation that was seen in August, but the decision has been made to hold rates for now, therefore confirming their accommodative monetary policy. TheContinue reading “European Central Bank Looking to Hold Rates”

EUR/JPY – Important Zones To Watch For

This morning the Eurozone released their Markit Composite and Services PMI’s which both came out positive. Comparing the latest release to the previous month’s data, we can see that there was a moderate growth in activity with Germany proving to be the best performing country during August. Looking at this pair on the daily timeContinue reading “EUR/JPY – Important Zones To Watch For”