YES vote, I will expect two outcomes: no strong move in the eurusd or strong buyers coming into the market. . Side note: The buy position will not be a protractive move as further depreciation in the market is expected in the long run. Eurusd, in my weekly blog last week, I wrote about the end of a 5 Elliott Wave Theory as the market started to form an Inverted Head and Shoulder pattern which indicates a reverse in the. I want to point out the difference between Inverted Head and Shoulders. In this past week, the US Dollar Index has broken the support, marked by the white diagonal line, in the above chart. No change is expected.
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After the break, I will be waiting for a pullback to then start to buy Euro. First potential target is.0740/50 price area. The sell pattern that we will see in the Dollar is higher due to a corrective move rather that a complete reversal, as I do expect the Dollar to continue its appreciation in the long term. In my weekly vlog, I talked about the support area marked by the horizontal yellow line which is an important price level for a possible bounce or support. After an extensive re-brand and update to the Portex Markets website, clients can now enjoy access to the newly developed Portex Portal. One of the many things economists and traders want to know is whether there are any changes in monetary policy. This type of pattern will be confirmed if the US Dollar were to start appreciating again and only if it broke the neckline once it started to sell. Inancial Services Ltd is authorised and regulated by the Financial Conduct Authority in the UK (under firm reference number 466201) and the Financial Sector Conduct Authority in South Africa (with FSB number 45784). On Wednesday we will also have some leading indicator news such as the CPI and the speech from Fed Chair Yellen and then on Thursday, analysists and traders will be expecting the unemployment claims data. If the price breaks, I would want to hold the trade up to the potential neckline.0800 price level. In that blog, I was looking for depreciation in the Dollar which occurred when President Donald Trump gave his first public speech on Wednesday 4th January.