reports
- Steve Lucas
SPOT EURUSD - signals revert to bullish, but look for pullback
​ Although our first downside target was met Wednesday, European trading saw limited movement in EURUSD. But the underlying positive tone, reflected in this week's report, reasserted post FOMC with a powerful move of more than a big figure. This kept the currency pair near the top of a bullish Keltner channel and took the market to new 2 ½ year highs. Of course, the speed and scope of the move means intraday signals for sentiment are overbought, especially after further Asian gains, but it is...
- Steve Lucas
SPOT EURUSD - Upside rejection points signals lower, temporarily
​ Yesterday's bullish forecast was initially confirmed with Monday’s modest setback solidly overturned. This move took EURUSD through 1.1700, to our first weekly upside target and to the most positive levels traded in 2 ½ years. But with intraday signals for sentiment overbought, profit taking developed and took the market back to an almost unchanged close. This ‘Doji’ patterns suggest indecision but it is the upside rejection that is assessed as the likely main influence on early price...
- Steve Lucas
WEEKLY EURUSD - hugging the upper band of daily and weekly Keltner cha...
​Last week's positive call was confirmed with strong gains taking EURUSD to all of our weekly targets. These gains of almost 2 ½ big figures also yielded our first quarterly objective and the most bullish levels traded for 22 months. Signals for sentiment are overbought and a reaction is likely. But with the currency pair hugging the upper band of daily and weekly Keltner channels, our studies are bullish. In light of this, our call for this week is a Buy from the open but leaving room to als...
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