Browse Symbol Stacks: CAC: Blanks of the trader

Blanks of the trader

Content added from mofutures.blogspot.com
Macro view

With trading being relatively slow on advanced patterns side coming week seem to be shaping up with more action on-board. RBA interest rates announcement on Monday will likely to move AUD related pairs in FX space. Being long AUD seems like no brainier at the moment due to carry and relative strength of commodity bound currencies, however there has been many attempts by RBA to weaken the currency in the past so watch this space. ECB will be announcing rates on Thursday having risk of deflation increased, there is likely to be an effort to weaken the EUR, not sure though if ECB has enough capabilities to do that on more sustainable basis. Having FED chair Yellen making a dovish comments today, markets seem to be setup for up and down action for the coming week.

CAC40

French index seem just completed bearish Gartleys pattern on 4 hours chart. Went short on this one, area at 4432's will be critical for further progress, if broken will be targeting new highs, see the chart below.  

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