Centimento sa EURO

Draghi overwhelmed us with its effort to boost its monetary policy
by extending easing program to another 6 months, and depo rate cut of -0.30% . However, as you can see currencies are consolidating again, hence waiting for a big move to either continue the bearish rally or to start being bullish in EURO.

This move gave us a rally of 400-600 pips last thursday in all of its cross pairs. This however does not change
the over-all sentiment that we are still bearish on EU, as we approach the announcement of most anticipated interest hike. Brace yourselves as many are positive that Fed will eventually give the public what is has been waiting for such a long time. With a good employment data last friday, this might
be a strong indicator that Yellen will finally give us her , YES. ( Oo na, tataasan ko na ang interest rate).

The market opened today with a friday’s price range of 1.0954 – 1.0837 in EURUSD. As of we speak , price broke its H1 friday’s support line and is now heading south. We still got a bearish MACD in W1 with RSI level of 43.74, and a bearish MACD in H4 with RSI level of 56. If it would indeed resume its bearish position, it would find its support on 1.0837 , 1.0754 and 1.0700 before going down to its pre-ECB monetary policy price – 1.0527.



Disclaimer : No Absolute absolutes. Trade at your own RISK. Currency and Equity trading carries high level of risk, please see your financial adviser first before entering the market. If you have finally decided to get in, and wish to have expert advice from this market, Forex Crib will be glad to direct you to the right people. See you.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s