Every week something new happens since Trump became president. Here we go – impeachment. To be honest I think he will not be impeached. There is nothing in that Ukrainian call. Well, maybe Democrats have something else? – Hmm, in this case, all is possible. It reminds me impeachment of Bill Clinton. Do you remember that story? The US stock market fell hard (even more than now) and what happened next? – We had a huge rally. I believe we will see the same now.
Technically Sp500 is bottoming. Well, we have to wait for confirmation, but there is a divergence in the 4h chart already. So, if there will be no more fundamental surprises, the downside is limited and we will see a move towards our final target near 3100.
Last week most of the economic data were positive in the USA. But overall EUR/USD is fundamentally dead. There is a bullish divergence on the daily chart. But I don’t like the price action. Besides, my calculations still show 1.0750 and 1.0700 as a turning point. So, in a few words, there is no good opportunity for short term traders. Long term traders (who used to split lots) can start buying with small lots and add more if we visit the mentioned range.
Wishing you a great week!
Sign up to our Newsletter
(We do not share your data with anybody, and only use it for its intended purpose)
No Representation Is Being Made That Any Account Will, Or Is Likely To Achieve Profits Or Losses Similar To Those Discussed Within This Site, Support And Texts. Our Forecasts and other Texts on this Website Should Be Used As Learning Aids. If You Decide To Invest Real Money, All Trading Decisions Are Your Own. The Risk Of Loss In Trading Commodities Can Be Substantial. You Should Therefore Carefully Consider Whether Such Trading Is Suitable For You In Light Of Your Financial Condition.
Futures trading is speculative and involves the potential loss of investment. Past results are not necessarily indicative of future results. Futures trading is not suitable for all investors.