Menu
Sister Sites

  • EUR/USD Price Analysis: Bulls need validation from 1.1385

    From fxstreet.com

    EUR/USD bulls attack crucial resistance around 1.1385, poking the highest level since mid-November, during the early Asian session on Monday. That said, the quote flashes 1.1375 level by the press time. In doing so, the major currency pair battles the 50-DMA and a horizontal area comprising multiple resistances since mid-November. Given the bullish MACD signals and the pair’s successful run-up beyond 21-DMA, EUR/USD buyers are likely to overcome the immediate hurdle. However, a downward sloping trend line from early September, around 1.1440 by the press time, will be critical to watch for the bulls afterward, a ... (full story)

  • Post #1
  • Quote
  • Edited at 7:26pm Jan 2, 2022 7:14pm | Edited at 7:26pm
"EUR/USD....Bulls.....need validation...." That is an UNDERSTATEMENT!

Why, simply because this happened only about an hour after the open of the Asian market, a time traditionally all but void of any real activity, especially on a Monday, especially on the 1st day of the year, especially following declining activity during the immediate prior weeks! THERE WAS NO SUSTAINED nor SUBSTANTIAL ACITIVITY!

In few words, this "news" is suggesting a mountain, when there was barely a mole hill! Furthermore, the statement "EUR/USD bulls attack..." is lame! For every party there is counter-party of equal size! And, for all anyone knows at this time, the initiating side might be SM BEARS selling, looking for price to slide right back down to the bottom of the range, and maybe this time more.......HTMRW.
Attached Image (click to enlarge)
Click to Enlarge Name: jan 002.png Size: 100 KB
These peoples dream all the time with animated bulls and bears.
The attack of 1.1385 was just the typical end of year run.

What it has not done for weeks was done in the last trading day of the year, how reliable can that be for you to draw conclusions.
let's go fight bulls .........
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 67 KB
tf weekly
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 46 KB
ZOOM OUT
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 45 KB
  •  Guest
  • | IP XX.XXX.47.87
Join FF
  • Story Stats
  • Posted: Jan 2, 2022 6:30pm
  • Submitted by:
     Newsstand
    Category: Technical Analysis
    Comments: 6  /  Views: 1,267
  • Related Stories