There’s double trouble for the Euro
- Euro ignores better than expected German Industrial production & trade balance data
- Yen strength an early driver through Asia and due to BOJ scaling down bond purchases. USD buying picks up early in Europe
- Price holding well below 1.20 with strong resistance at 1.1980. 55 H4MA at 1.1982. 200 H1MA at 1.1988
- 38.2 fib of Dec swing up broken at 1.1946
- Next support is minor at 1.1935, 1.1920, 1.1910, 100 H4Ma at 1.1908, stronger at 1.1900, 50.0 fib of Dec move at 1.1902
- Resistance over 1.1980 at 1.2000/10, 1.2020/25, 1.2040/50
- Huge options expiry at 1.1985 vanilla and digital 2.32bn
- Vols still hovering at multi-year lows. EURUSD 1m ATM 5.79. All time low 5.20 seen mid-Dec
EURUSD H4 chart
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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