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Highlights
Central Banker Talk
EURUSD Breaking Boundaries
Please note: All data, figures & graphs are valid as of November 14th. All trading carries risk. Only risk capital you're prepared to lose.
Central Banker Talk
While DJ Trump is putting his team together, this week we'll hear from all the central bankers so they can presumably tell us how wonderful a Trump presidency is going to be for their policies.
Last night Governor Kuroda-san from the Bank of Japan said how Trump's presidency will be an amazing platform to test out their yield curve theory. I'm paraphrasing of course…
The USDJPY is reacting even better than the BoJ could have imagined, shooting straight for the sky. Shinzo Abe will be one of the first foreign dignitaries to meet the President-elect in person, quite possibly to thank Trump for doing to his currency what he himself could not.
Today is Mario Draghi's turn, though his job will be a bit more difficult. Europe is largely expected to be the biggest loser, but central bankers usually try to stay positive so it's going to be interesting to see how he spins this.
There will be many more central bankers speaking this week so be sure to keep your eye on the economic calendar.
Check out the Euro!
There are so many wild swings in the market right now that it would be difficult to show them all. Since we have Draghi talking today I think it's only fitting that we cover the EURUSD.
Here's the chart that shows the Euro sinking against the Dollar since the election...
If we zoom out though, we can see that the entire chart above is merely a spike on the long term chart.
This is the long term range we've been tracking on the EURUSD from 1.0740 to 1.1500.
If 1.0740 is broken on the downside then there is only one support left at 1.0500 before it's all time low of 1.0459.
Investors in eToro don't seem to think we're headed that way though. At the moment the sentiment meter in the platform is showing an astounding 79% buy signal.
This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation.
Past performance is not an indication of future results. All trading carries risk. Only risk capital you're prepared to lose.
Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don't trade with money you can't afford to lose.
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