Expect Wider Market Volatility Across 3rd Quarter 2017
The turning point & weakness in the USD-DXY back to 96.32 due to the delayed healthcare vote have given support on the ECB Mario Draghi inspired EURO moving towards the 1.1380 1st line of defense levels.
As we have seen an up/down price swing relative to the #EURUSD hi/lo range between 1.0500-1.1500 level. Wherein the choices we 've made back then is still valid with the #EURGBP remaining quite resilient well within its own range of 0.8400 - 0.9000 while currently trading @0.8853 to this writing. Click on Chart below for bigger view
The turning point & weakness in the USD-DXY back to 96.32 due to the delayed healthcare vote have given support on the ECB Mario Draghi inspired EURO moving towards the 1.1380 1st line of defense levels.
As we have seen an up/down price swing relative to the #EURUSD hi/lo range between 1.0500-1.1500 level. Wherein the choices we 've made back then is still valid with the #EURGBP remaining quite resilient well within its own range of 0.8400 - 0.9000 while currently trading @0.8853 to this writing. Click on Chart below for bigger view
EURGBP Cross Rate
Price Update: An Obvious Market Squeeze of the EURUSD upon US Opening with traders over-reacting towards ECB Mario Draghi
Price Update: An Obvious Market Squeeze of the EURUSD upon US Opening with traders over-reacting towards ECB Mario Draghi
The focus on Equities have long overshadowed the currency market with a few exceptions while awaiting for the resumption of a USD weakness provided a good support for the European majors and the commodity related currency. With the AUDUSD making a price recovery after trading well within its range at 0.7100 - 0.7750 levels; now has a higher probability of pushing though higher having a better foundation of its base and price consolidation.
With that said, the end of the week's trading closes the 2nd quarter trading for the year. Thus the prices marked would define the next opening quarter trading that would still involve a wider price range on these currency pairs moving forward into their respective band levels. In short, there would be a greater volatility of price swings that we are expecting in the opening price levels not only for the currency market but also with US Equities.
Expect Wider Market Volatility Across 3rd Quarter 2017
ReplyDeleteThe last few hours was already as volatile as it can get when traders reacted in both directions on reports of overacting and conflicting news about the EURO. Which led into a whipsaw price swing near a 1.1290 and recovers back to 1.1379. And obvious market squeeze.
ReplyDeleteFinally after making a this call since may 22, 2017 we have seen how long it takes for a decent major movement to occur but well worth the wait. Sacrificing negative swaps with the EURUSD have been offset with a net positive effect from the USD UDN strategy on the bearish outlook of the USD Index.
ReplyDeleteLikewise breaking out of the 1.1380 that led to marking a high at 1.1435 for the EURO. Although, a probable session pull back can be expected since this is the first breakout price which could draw some liquidation before the end of the week's trading and end of the 2nd quarter 2017.
Related Information: Copy & paste on browser
https://megatrade101.blogspot.com/2017/05/cable-uneasy-over-brexit-euro-benefits.html
We believed that the 95.47 low registered last June 30th, 2017 was fair accurate enough to have been projected in search of a support for the USD DXY.
ReplyDelete