Bearish late night signals against the Dollar

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March 29, 2017
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March 30, 2017

Tomorrow Thursday the 30th March I expect to see Dollar weakness among 3 major pairs and I also get bearish signals in the Dollar index.

EURUSD

At the 38% Fibonacci retracement support level. Still inside the bullish channel in the daily chart. Short-term oversold conditions and reversal signs. I expect to see a bounce towards 1.0810 at least tomorrow.

GBPUSD with article 50 talks in the spotlight, GBPUSD showed today that is holding its ground. A move at least towards 1.25 is expected as price has back tested successfully the broken resistance trend line in the daily chart and is also showing reversal signs in the 4 hour chart as price is bouncing off the 38% Fibonacci retracement.

USDCAD With Oil strong and breaking higher towards 50$, the USDCAD is weakening and as you know from twitter, I’ve been bearish since 1.34 looking for 1.31 (or 1.32).

 

Price has broken an important support trend line and is trading below the Ichimoku cloud in the 4 hour chart. Short-term trend is clearly bearish and I will be expecting a bullish reversal between 1.3250-1.31.

Finally the Dollar index….

38% Fibonacci retracement. Overbought signs and reversal in the 4 hour chart are there. I expect at least a pull back towards 99.60-99.45

 

Thank you for taking the time to catch up on my thinking.

Alexandros Yfantis
Alexandros Yfantis

Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.