EURUSD only

Meanwhile, on H1...

As long as candles open above 1.0754, the overall trend is bullish on this timeframe..

I prefer to stick to bulls and will rinse & repeat buying dips..

If the day closes aboe 1.0860 then bulls likley going to continue and a 1.0930 close of weekly is possible.

Long / Short Bias in between the 50% and 61.8%

Excellent. I had a feeling I needed to start selling after London close. Got some nice entries.

FWIW, this is my long term account. Stops above 1.1000, targets below 1.0500. I also have a time based exit on this account, before COB on December 20, 2024. Assuming I am still here and still playing with a full deck of cards

I will add more as the trade progresses/

Happy Trades to you,
NB

SL to BE risk free

Based on H1, I am waiting for a new bullish breakout... No rush!

Daily Closed or today closed @ 1.0804 for E/U that confirms the Bullish reclaim.
From Asia session, we just have to wait for a new bullish breakout which is according to Mr. Turkoglu.

USD weakened slightly ahead of the Fed's interest rate cut, finally, the Fed cut interest rates by 25 basis points, the price is now near the middle band on H1, the Bollinger band is still drawing an upward channel, while the 50 MA is drawing a downward channel. RSI is at the neutral level of 50.

Lol... No need for formalities.. We are family and friends here.. Simply call me "Ata"...

Best wishes

downside direction ticked but need to watch out for you SL

Based on H1, we finally might have a bullish breakout.. BUT no momentum--> Careful and patience!

*Remember that 1.0770 area is my weekly crucial level and is lately acting supportive..

We arrived at highly crucial weekly channel median line level: 1.0795... Will it resist or can intraday bulls climb and stay above it?

Let's see...

First impression: resisting! Careful, dear bulls!

I still think that the dollar only corrected the strong movement based on the election results, but given the economic indicators that are positive on the side of the dollar, I would see a continuation downwards. regardless of the fact that Europe will be "weaker" due to US policy and measures.

Small update from my side regarding this post

Update:
- FED reduced Interest Rate as expected by 25BPS
- Powell will use a “wait and see approach” for the next meeting in december. He also mentioned that the next decision will be data driven.
- The FED watch signals a a 28.7% probability for no change in the next FOMC meeting vs. 17.1% one week ago
- The narrative of no change in rates will be supported by higher than anticipated CPI, lower unemployment and of course, the favorite criteria from the FED, the core PCE index on nov 27. Another metric to keep an eye on is the Average Hourly Earnings m/m. If these numbers come out better than expected, odds for no change in interest rates will be higher.
- In general, the FED mentioned a more gradual approach regarding rate cuts. In combination with higher inflationary pressure, the chances for big, aggressive rate cuts in 2025 are fading.

Edit:
Some more confluence for downward pressure on the EUR/USD comes from the VIX. If the VIX rises (Signal for risk aversion, resulting in safe haven flows into the USD) EUR/USD will fall. As one can see, the VIX is currently sitting near the lower support. An explosive rise could occur from here if the support is rejected, which could push EUR/USD further down.

still looking at this. Lets see. Need Weekly close.

Whew! That is some dirty Price Action on the 1H! I could see a possible revisit of 1.08 but then, since nothing has changed on the Daily/Weekly, yet, a return to Bears heading south.

Oooh bears! Looks like they want this weekly candle to close down strong.

1.0700 area pretty solid. Going to be a battle in that area. Hopefully it breaks next week. Have a good weekend all.

Happy Trades to you,
NB

This position is immersed in a sea of profit
I will close it at this point due to the closing hours of the week