Disliked{quote}...what do u mean by the last sentence? So in what way and why would it change your view? Because the good numbers would mean steeper gradual tightening cycle? And btw. how do you see the W close in EUR/USD?Ignored
Meaning the firsts rates impact will start weighting less and less on equities for DEC (basically we'll start going back to the natural correlation of good numbers = good equites instead of good numbers = rate hike). In TA terms, a test 1790.xx will be locked for this year...therefore i'll need to revaluate taking shorts only.
QuoteDislikedThe pinball looks bearish but as the triangle on W is approaching its end the pinball does not look convincing at all Thank you and have a great weekend
The weekly bar alone looks awfully bearish, but as you well pointed out, if you put it in context was very neutral (which is expected in a neutral range). Short term this week, bears are uncovered after last week. A break above 1.147.x will open the sky very quick as we'll see the classical "Capitulation" move. To the other side the range is intact with plenty of soft and mild supports till the floor (1.112x / 1.108x).
For the next few euro sessions, the obvious 1.135x since last week is the only level to trade until ECB. OIL (CAD for those trading) is on the menu for this Week with eyes on inventories after Chinese numbers before starting to form a bottom. and we may enter in full chop zone till the end of the year after this week.
sisse
Pending conversations? PM for a chat...I am mainly in OTM now