Cheers bud, not too sure about this at the moment.
Really not playing ball is it. Long bias still me right now, but wont be rushing!
As you so rightly point out Fundamentals are messy , possible bullish flag will have to sit on our hands for the time been
Thanks gonna sit out of it for a while
Massive break down on this pair making a change in the bais direction!
Going long soon on this…
Nice bit of charting as always! This pair looks a bit all over the place to me and with fundamentals driving wild swings it’s a pair to watch but not participate in for me right now.
EURCHF
Lessening momentum seems evident right now and we may see short term reversals inbound. I say short term as fundamentally there is nothing drastically improving for the euro right now and it’s possible we maybe trading this lower range for many months. The Swiss Franc as we know is safe haven territory and in the wake of brexit and the ongoing corona virus concerns its strength remains in tact.
This pair is imo a very long term buy however there are no reasons right now to support that fundamentally or technically, however I will keep updating this pair weekly
Could be range bound for a while best to wait it out
It will be interesting to see just how low it will go and when it reverses it will offer some fantastic buying opportunities
EUR is gonna struggle this year so won’t be buying this one anytime soon
Good analysis as usual. I’m not trading EUR pairs ATM but still like to follow it.
Thanks mate.
GBPUSD
Technical set up for a sell is close to presenting after settlement of the candle beyond support at 1.29800. The downward range combined with this psychological whole level should make for some easy pips provide fundamentals do not interfere! Look for favourable candlesticks through the support level and trade with good risk to reward in mind.
Thanks. Yep it’s a SELL for me today, then wait.
Sells looking pretty tidy there as long as Fundamentals don’t get us too right mate !
I cant argue with that bud
Quite true with the global and political landscape we have now
EURCHF
As the EURCHF sits at a 5 year low we see consolidating momentum and grow in bullish sentiment across the board. The central bank may be intervening to stop it rising further, outweighing the impact of concerns about the spread of a new coronavirus that have driven investors into safe-haven assets this week.
This pair is ripe for the taking and in my eyes has reached its limit. I will update weekly and when we get some technical confirmations I will be scaling in all the way up!
All signs for me look like a bearish continuation.