Euro Crosses Forex Trading Stamford CT

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Euro Crosses Forex Trading Stamford CT

Euro Crosses Forex Trading Stamford CT | EUR/GBP | EUR/CAD | EUR/JPY | EUR/USD

European’s single currency, or as we call it at Invest Diva, Mr. Euro,  doesn’t only make hip moves against Ms. USA alone. Taking a quick look at the forex dance floor, you’d notice opportunities for Euro crosses Forex Trading Stamford CT. This includes British Pound, Canadian Dollar and Japanese Yen. If you are 100% sure that your current financial situation is healthy enough to trade forex, please go ahead and scroll down. Otherwise, get your bones over to our financial therapy course and start planning your future financial freedom!

P.S. I am now an adjunct professor at Baruch College in New York city teaching wealth management. Next could be universities in Connecticut so stay tuned!

Forex Trading Stamford CT

Euro Crosses Forex Trading Stamford CT: Fundamentals

Head of European Central Bank, ECB’s Mario Draghi wasn’t feeling the good vibes in the euro zone in their last non-monetary policy meeting. He said low interest rates are only the symptom, not the cause of an underlying problem across major economies. To add insult to the injury, Euro zone’s Gross Domestic Product (GDP) came out in red on Friday May 13. On the news, Mr. Euro dropped his pants against most of his major forex dancing partners.  Be careful when Forex Trading Stamford CT.

Euro Crosses Forex Trading Stamford CT: Why does EUR Get Quoted First?

Note that Mr. Euro is quoted first in most of these major currency pairs. That means more pessimism on EU’s fate, would drag these pairs lower. More optimism will push Euro crosses trading pairs higher.

Why Euro Comes FIRST in EUR/USD? Watch Video

The Good

  • Euro zone economy above pre-crisis peak
  • Healthy household consumption and a rebound in investment

The Bad

  • High debt, weak bank profits, high unemployment and vast excess capacity in the economy
  • EU back in deflation

Read details

Note that Mr. Euro has become a new safe haven every time China announces miserable economic data. That’s why despite bad data from Europe, Mr. Euro managed to keep face at least a tiny bit when Chinese data also came in red.

CAUTION: To do a 360 analysis on Euro crosses, you MUST do your due diligence on the economy of cross currencies as well.

When in doubt, consult Invest Diva.

P.S. In the chat box, ask to see if you are eligible for a discount.

Euro Crosses Forex Trading Stamford CT: EUR/GBP

Once you’ve crushed the fundamentals, you can move on to the next step, the technical point of the Invest Diva Diamond.  Make sure  you do this before Forex Trading Stamford CT.

Big Picture Monthly Chart: The pair is moving inside a downward channel. Currently testing the 0.7850 level which falls on two Fibonacci retracement levels: Long term 50% and short term 23%. The pivot of 0.76 is also pretty important. Downward movements towards these pivots would indicate further long term bounces inside the downward channel.

Forex Trading Stamford CT

Euro Crosses Forex Trading Stamford CT : Daily Chart Market Sentiment:

The pair is trying to break below the ichimoku cloud and has formed a hammer candle after testing the pivot zone. A confirmation of a break above the Ichimoku would be yet another bearish signal for EUR/GBP.

Forex Trading Stamford CT EUR/GBP Daily Chart – Euro Crosses Trading

Euro Crosses Forex Trading Stamford CT: EUR/JPY

Bad Chinese data could make both the Euro and Japanese Yen stronger. That is why this Euro cross is mainly consolidating inside the Ichimoku cloud.

Forex Trading Stamford CT EUR/JPY Monthly Chart – Euro Crosses Trading

On the daily chart, the pair is struggling to break above the Ichimoku cloud and therefore the sentiment remains bearish at the moment.

Euro Crosses Forex Trading Stamford CT: EUR/CAD

This pair could be forming a Double Top chart pattern. However it remains above the Ichimoku cloud on the monthly chart. Need to wait for a confirmation. Neckline: 1.3520

Forex Trading Stamford CTEUR/CAD Monthly Chart – Euro Crosses Trading

Euro Crosses Forex Trading Stamford CT: EUR/USD

The pair was not able to break above the consolidation box on the monthly chart. However on the daily time frame, it is moving in an upward channel. More range trading inside the channel and the box is possible. Pivot: 1.11. Resistance: 1.15

Forex Trading Stamford CT EUR/USD Daily Chart – Euro Crosses Trading

Here are the important EUR/USD levels to keep an eye on:

Support Levels Turning Point Resistance Levels
1.11 1.15 1.15
1.05 1.11 1.18

A break below Ichimoku cloud would be a strong bearish signal targeting 1.05.

Make sure you have checked your financial health before Forex Trading Stamford CT. Your financial situation may not be suitable for the risk that involves in trading or investing activities.

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