Forex Lasers Forum  

Go Back   Forex Lasers Forum > FOREX TRADING > Forex Analysis


Alpari Analysis Mayo 2018

Forex Analysis


Reply
 
LinkBack Thread Tools Search this Thread
  #1  
Old 21-05-2018, 22:26
Level II Lasers Member
 
Join Date: Oct 2017
Posts: 26
Default Alpari Analysis Mayo 2018

Last week, all the major currencies expect for the Swiss franc declined against the US dollar. The single currency was the biggest loser, shedding -1.42%.

On Friday, the euro dropped to 1.1750 against the greenback after an unsuccessful attempt at exiting the triangle. The price reversed downwards after news from Italy that two parties (The League and The Five Star Movement) have pledged to roll back austerity measures and increase spending as part of their coalition agreement. Long-term Italian bond yields shot up on this news to reach a 7-month high.

These geopolitical developments caused the EURUSD pair and US10Y bond yields to move in the same direction. Usually, when US10Y bond yields decline, the US dollar is supposed to drop, while the euro should rise.

My expectations of an upwards correction to 1.2859 proved correct. After a false breakout of the triangular formation, the rate dropped to the reversal zone of 1.1778 Ė 1.1796.

The euro has been declining against the dollar for 22 consecutive days, without any significant pullbacks. I havenít bothered to make a prediction for today given that the situation in Italy is keeping the euro under pressure and the price has reached the key daily support level of 1.1740. In todayís Asian session, the euro has dropped to 1.1744.

The exchange rate has gained a foothold at the junction between the 180th and 67th degrees from different highs. The 90th degree is sitting at 1.1728, while the 112th degree is at 1.1701.

Iíve copied the upper line of the triangle and pasted it at the 1.1763 low to form the downwards A-A channel, which will help us determine the target for sellers along with the Gann lines. For now, the 112th degree is the target for sellers along the lower line of the A-A channel, while the 45th degree at 1.1777 is the target for buyers along the channelís upper line.

Iíve also drawn another line, which runs through the lows of 1.1822 (9th of May) and 1.1763 (16th of May). This is here to help identify intermediate support levels. The intersection between this line and the 67th degree is a potential reversal level. Iím not ready to short the euro yet, though. Today, Iím taking a wait-and-see attitude.
You can use our Convert euro to dollars
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are Off
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Alpari Analysis March 2018 AlpariJose Forex Analysis 2 22-03-2018 14:14
Alpari.com - EURUSD February 2018 AlpariJose Forex Analysis 1 13-02-2018 16:59
Alpari.com EUR/USD January 2018 AlpariJose Forex Analysis 3 27-01-2018 01:06
Alpari.com December analysis EURUSD AlpariJose Forex Analysis 2 15-12-2017 00:03
Alpari.com - EUR/USD Analysis of November AlpariJose Forex Analysis 2 27-11-2017 23:41


All times are GMT. The time now is 19:50.


Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.