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On;y ZEW will real matter today
All this done so far is the guessing game for ZEV
Strategy for Eur/Usd for following week:
MF Pivot protecting long-term trend down remains unbroken so far.
On the other hand:
The Mid-term flat that started couple of weeks ago now has grown in to a higher level Flat.
Eur/Usd is facing the moment of True at the moment
There is a massive Russian Rouble conversion to Euro. Each new rise of Rouble compared to USD will result in quick Euro raise. These things have nothing to do with fundamentals. People are trying to protect their money and the way it is going they are pushing Euro up and USD down now
This was the first time after a long time that the long term resistance was tested. I have a feeling that we are looking into turbulent times ahead. War that has shifted to economic ( currency ) war makes all this less predictable : so far we did not have times like these. Some big bubble threatening and in those case all hell can break
One more whipsaw. FOMC statement tomorrow already priced in - tomorrow it will be an interesting day
Despite the marubozu candlestick on the daily filter chart EUR/USD continued on its way up until it reached the strong resistance at 1.2570. In case it does break above that resistance level I think it will likely reach target 1.2700.
It is all about FOMC tomorrow. Nothing else (except the Euro buying in Russia) is driving the market any more
It is all about FOMC tomorrow. Nothing else (except the Euro buying in Russia) is driving the market any more
There is only one market driver now : a total ( currency ) war
This was the first time after a long time that the long term resistance was tested. I have a feeling that we are looking into turbulent times ahead. War that has shifted to economic ( currency ) war makes all this less predictable : so far we did not have times like these. Some big bubble threatening and in those case all hell can break
I'm not sure we are looking at trend reversing now, but bulls are in full power.
Good rally for the Euro, but it still needs the support of tomorrow's fundamentals to keep rising.