Recap On June 15th, we set our target for the Euro for a price of $1,104. This target was hit last Thursday as 6E rallied 3.6% from its recent low. The question is whether we see a higher chance this resistance zone will be broken to the upside or if the bears will push 6E Read More…
Bulls take control In the previous analysis I did on 6E, I mentioned the possibility of a bullish reversal. That has now been confirmed with strong bullish price action. The trade was a high-risk, potentially high-reward play, but it is working out at the moment. Take a look at the previous article here and the chart below: Read More…
Quick recap Last week I mentioned staying away from trading 6E, but things have changed now that the FOMC and key US data is out of the way. There looks like a potentially high-risk reward trade that has a low probability of success, but nevertheless, I want to show you what it looks like to Read More…
Technical analysis MACD: The MACD is in the red on the daily chart showing some divergence. The buying pressure is weakening and is being translated for us easily in the MACD histogram. Price: The Euro has begun to for a rolling over pattern as it struggles to break above 1.106. We can see from the chart that Read More…
Technical analysis The Euro has surged through a resistance level formed on February 2nd. The level is 1.106 and should now act as a support moving forward. The Dollar continues to fall and is causing other currencies as well as equities to rally. Take a look at the chart below for recent price action. Trade Read More…
Technical analysis The bulls are in control as the Dollar weakens. The Euro is strengthening, and it’s evident on the chart. Price has tested the zone within the gaussian channel and has bounced successfully out of it. This is a good sign for trend-following traders who wish to go long the Euro because the trend Read More…
