{quote} I'll give you 0.66 but the buck stops there, in the big picture anyway{image}
However the chart below gives me another thoughts. What do you think?
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
However the chart below gives me another thoughts. What do you think?
- Joined Jul 2011 | Status: I'll be offline for a while | 8,577 Posts
{quote} I tend to agree with you. 0.6600 is a strong level. However the chart below gives me another thoughts. What do you think? {image}
"Forex a Great Hobby, But Not a Great Job"
Texas-2-Step All Time Return:
8.1%
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
{quote} I already posted my chart and my overall view is based on weaker USD going forward
What is your target?
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
As posted earlier, and illustrated by a chart: https://www.forexfactory.com/thread/...4#post14231314
the probability of resuming the downtrend is high.
The recent move up of about 90 pips might be just a retest of previous support 0.6640 which now is a resistance. Possibly after this retest the downtrend will resume. Please see the chart below:
The red horizontal line represents the resistance level while the red circle shows the time and the point where the resistance occurred.
You can also see a clear SHS which indicates that the price could not move higher than the previous high.
The timeframe is H4.
Just in case the price makes another move UP, the next level to watch would be 0.6720.
Please do your own research before trading this view.
EDIT: The resistance level of 0.6640 is the lower edge of the resistance zone 0.6640 - 0.6670.
the probability of resuming the downtrend is high.
The recent move up of about 90 pips might be just a retest of previous support 0.6640 which now is a resistance. Possibly after this retest the downtrend will resume. Please see the chart below:
The red horizontal line represents the resistance level while the red circle shows the time and the point where the resistance occurred.
You can also see a clear SHS which indicates that the price could not move higher than the previous high.
The timeframe is H4.
Just in case the price makes another move UP, the next level to watch would be 0.6720.
Please do your own research before trading this view.
EDIT: The resistance level of 0.6640 is the lower edge of the resistance zone 0.6640 - 0.6670.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
{quote} I already posted my chart and my overall view is based on weaker USD going forward
As I mentioned here:
https://www.forexfactory.com/thread/...4#post14231964
in case of UP-move, the next level to watch would be 0.6720. The price touched 0.6722 and the rally died and the price is now on level with the right shoulder of the SHS on H4 TF.
I am not sure what will happen from here. I need to do more research. Will be back with more information.
Good luck.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- | Commercial User | Joined Nov 2022 | 51 Posts
Thoughts on AU finding a resistance level here and moving down to wards 0.60 ?
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
{quote} What is your prediction?
This is what I can come up with (see the chart below):
The price can fall down to 0.6680-0.6660 and if the lower trend line gets penetrated then the next level would be 0.6600.
On the upper side 0.6920-0.7020
The timeframe is H4
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
{quote} I am not sure. This is what I can come up with (see the chart below): The price can fall down to 0.6680-0.6660 and if the lower trend line gets penetrated then the next level would be 0.6600. On the upper side 0.6920-0.7020 The timeframe is H4 {image}
EDIT: This zone is a strong support with the first mark set on 14 July.
Good luck
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
{quote} Ok. We are inside the 0.6660-0.6680 zone as I write. Penetrating this zone downwards may see 0.6600 again. EDIT: This zone is a strong support with the first mark set on 14 July. Good luck
I expect that the price will retest this area and if resuming the down move and closing the day below this area, then we are possibly heading to 0.6600.
Just my view. Do your own research before trading it.
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
Start with 1000$. Increase by 3% every day. After one year 2 213 314$
- Joined Jul 2011 | Status: I'll be offline for a while | 8,577 Posts
"Forex a Great Hobby, But Not a Great Job"
Texas-2-Step All Time Return:
8.1%
- Joined Oct 2016 | Status: NotAtrader, A Money Machine. | 4,991 Posts
Start with 1000$. Increase by 3% every day. After one year 2 213 314$