Eur futures has had a very positive week, it has broken the resistance due to the Risk-on mood between the investors.
USA preliminary GDP was negative -5.0% against -4.8%. In europe there is a sort of enthusiasm for the easing of lockdown and the recovery fund is almost ready, 750 billions of euros to help every country. The fundamentals are positive, howevere there are still some risks related to the recovery fund becauseit won t be easy to reach an agreement, in addition usa-china tensions might appreciate the dollar (because it is a safeheaven currency).
In the chart we notice an ABCD pattern, the price is actually in the POTENZIAL REVERSE ZONE, so we need to wait before opening a sell trade. CCI has created a clear divegence and volumes are becoming lower.
Have a nice trading guys
USA preliminary GDP was negative -5.0% against -4.8%. In europe there is a sort of enthusiasm for the easing of lockdown and the recovery fund is almost ready, 750 billions of euros to help every country. The fundamentals are positive, howevere there are still some risks related to the recovery fund becauseit won t be easy to reach an agreement, in addition usa-china tensions might appreciate the dollar (because it is a safeheaven currency).
In the chart we notice an ABCD pattern, the price is actually in the POTENZIAL REVERSE ZONE, so we need to wait before opening a sell trade. CCI has created a clear divegence and volumes are becoming lower.
Have a nice trading guys