EURUSD

Because the ECB is doing balance sheet reduction in 2020, while the US Fed has already started. Everyone knows that means the EUR should be stronger than the USD.

*in case you do not see, this is sarcasm.*

Euro knocking the Price 1.1700 Now

Can't tell,i'll short above if it goes through it

I'm impressed by the rise, still looking at 1.156x and 1.149x

Most impressive is usdcad fall, big fight between buyers and sellers, but sellers always bring lower lows so far, and buyers make it bounce back up

Looks like accumulation

MD went long...

yes why sudden spike any reason ?

I'd say there is no news flow for this and it goes back down to where it was until tomorrow. I think the push to 1.175 will be what is in store for tomorrow personally/possibly. I'd think then it would be looking very "toppy" and would stabilize at those levels before eventually turning but I suppose who knows with this pair right... haha

I'm wondering if the fed news can get it above 1.1750... with how it has been, maybe/probably. Personally, it looks overdue for changing direction but the market is the market...

1.1707-13 possible targets for today before retrace.

Closed out +40 nice run

if 1.168x holds as support you may see further upside

That was a strange move......I think Trump bought back his wife.....

naa buddy, all in the charts. long overdue move to the upside

1.1710 is the next target

This is basically my overbought/oversold strategy which I call my retracement strategy. I use other strategies but this is my main bread and butter. I would put it in the category of trend trading. I use time tested indicators that have worked for me for ten years and more.

My indicators for a retracement strategy.
For entry:
RSI breaking the 30% or 70% on a 4 hour or Daily chart. I am looking for over bought or oversold conditions so I don't usually position until the RSI hits the daily.
Note: this is regardless of whether the currency pair is in an uptrend or downtrend since my sole concern is retracement strategy.

For confirmation:
200 SMA Just for general trending purposes. It's good to know what the general trend is whether you are positioning with or against this trend.
50 SMA determining whether the 20 SMA and 10 SMA is above or below the 50 SMA. The market is always seeking balance so if the small SMA's are far from the 50 SMA, it is a good indicator that we are in a overbought/sold condition.
20 SMA These two, the 10 and 20 SMA go hand in hand. It's a good visual to tell you whether the trend is about to turn or is strong.
10 SMA
Bollinger Bands to determine any extreme price action. I would never do a buy if the PA is hitting the north end of the BB and visa versa.
Heiken Ashi candles for smoothing erratic price action regardless if it's a 15 minute chart or daily chart. This helps to determine the length of the present trend.

For exit strategy:
Fibonacci Retracement usually just above the 50% and sometimes 61.8%. It's a great predictive tool but I use it mainly on how to exit my positions.
Resistance/Support lines. Historical R/S is very powerful and should not be ignored.

And then analyze results.

Please note that I could have positions in 3-8 currency pairs. I do this since I'm living in the U.S. and it's a way to get around the FIFO rules. So some will be in profit while others are not. If I'm overextended, I may have to sell my profitable positions before I want to.

This what works for me. It's not for the faint or heart since the market could still be going against my positioning. It is however my most successful strategy. I think I've only had one loss in couple years.

yea coz you were short right?

i know
it happens to me too

trades closed. that is for today.

Nice trade Mr Doom. My own high for today is 700.

It's going to try and break the 1.1700. I would be totally surprised if it didn't.

USD HPI m/m and S&P/CS Composite- 20 HPI y/y came in lower than expected. Waiting for CB Consumer Confidence results. If that comes in under forecasts, i'm thinking we will hit 1.1710 (if we haven't already) or higher.

Target hit +50
MLY high at 1.1714 may bring sellers?
Cheers, U2

what a accurate prediction.

Reached a peak of 2015 .. turn or go to 1.25 in 2014 ...?