My view for the EURUSD has been up for the long term and after several months of sideways action, it looks like we finally have the breakout. The trigger was yesterday, when FED changed their interest outlook for the coming year. Towards the end of 2018 the FED decided they would do 2 interest hikes in 2019, which was a disappointment for the stock market and one of the reasons why the market crashed.
Yesterday this news came out:
www.marketwatch...ivot-2019-01-30?siteid=yho...
The FED changed their plans once again (under pressure of the President). Several currencies made moved, Gold and the stock market rallied up as well. The dollar however got dumped. Basic economics says, the higher the intrest rate is in a country, the higher the currency gets (of a normal stable economy). Because it is much more interesting for foreign investors to invest in that country, which increases the demand for their currency.
Anyway, it's not a real breakout yet, want to see a weekly close above 1.15ish first. However, i will be looking to get in for a long term trade in that yellow zone on the right. I won't get in blindly, first i want to see it get in to that zone and then watch what kind of pattern develops.
Previous Long term analysis:
Yesterday this news came out:
www.marketwatch...ivot-2019-01-30?siteid=yho...
The FED changed their plans once again (under pressure of the President). Several currencies made moved, Gold and the stock market rallied up as well. The dollar however got dumped. Basic economics says, the higher the intrest rate is in a country, the higher the currency gets (of a normal stable economy). Because it is much more interesting for foreign investors to invest in that country, which increases the demand for their currency.
Anyway, it's not a real breakout yet, want to see a weekly close above 1.15ish first. However, i will be looking to get in for a long term trade in that yellow zone on the right. I won't get in blindly, first i want to see it get in to that zone and then watch what kind of pattern develops.
Previous Long term analysis:
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Update eurusd
