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  • EURUSD Bulls Face Two Critical Tests Below 1.2150

    From dailypriceaction.com

    The EURUSD has been in rally mode since testing key support at 1.1730. We discussed this area in the December 17 weekly forecast. A second sign that bulls were in control came a week later. The bullish pin bar that formed at 1.1855/60 hinted at a move higher. After nearly 48 hours of consolidation, the single currency exploded higher toward the 2017 highs. That brings us to this week’s price action. Over the weekend I had a level drawn at 1.2040. However, the last 48 hours have given me a reason to believe the ‘true’ level is closer to 1.2070. As you can see from the chart below, 1.2070 is the August 29, 2017 ... (full story)

  • #1
  • Quote
  • Jan 4, 2018 10:39pm Jan 4, 2018 10:39pm
Today it will determine breakout or not baby
  • #2
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  • Jan 5, 2018 5:09am Jan 5, 2018 5:09am
  •  Trader#E140
  • | Status: Unregistered Trader
Is it not the strangest thing that as of this time there is not a single article in FF on the NFP's so what is the point?

The Crow (-_-)
  • #3
  • Quote
  • Jan 5, 2018 5:25am Jan 5, 2018 5:25am
regardless of nfp good or bad, usd will collapse even though I have long usd for a year. USA just have too many problems and too many enemies.
  • #4
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  • Jan 5, 2018 6:32am Jan 5, 2018 6:32am
  •  Trader#E140
  • | Status: Unregistered Trader
Quoting HockMan
regardless of nfp good or bad, usd will collapse even though I have long usd for a year. USA just have too many problems and too many enemies.
Unfortunately I do not think things are so simple. Hate the USA or like the USA it is a most major financial player in this world and unwinding the $ from its prior place and role is a process not an event. As such (and given the strong run up by crosses so far) I am inclined to think a) even if we have higher to go this may be where we see a significant pull-back b) on the other hand it is not at all impossible that we are at a turn for the $ (though that looks a bit of a stretch but I find that I predict the market wrongly lately so I am allowing that possibility just in case even though I believe we are not yet at the end of the move against the USD but we could have a correction strong enough to confute that fact) and finally, C) I am a Gold trader and we actually expect Gold to fall per event so while you may be right I have my doubts that the $ is so whittled down in demand it cannot surprise to the upside. The world still needs an abundance of $ as of right now.

The Crow (-_-)
  • #5
  • Quote
  • Jan 5, 2018 8:20am Jan 5, 2018 8:20am
Quoting HockMan
regardless of nfp good or bad, usd will collapse even though I have long usd for a year. USA just have too many problems and too many enemies.
If the EUR data were bad, i will have disagreed with you.

Good news, will cause a rally that cause the USD to go down.
Bad news, will cause fear that cause a USD sell off.

The speed of the uptrend will vary depend on the news.
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  •  Trader#116F
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  • Story Stats
  • Posted: Jan 4, 2018 9:53pm
  • Submitted by:
     dailypa
    Category: Technical Analysis
    Comments: 5  /  Views: 3,062