EURUSD only

EURO is in dollar's mercy today, news came out today from EU is not supportive for the bulls plus US tax bill on the card. IMO I will be long again , only if tax get blocked today.

This has plenty too fall yet, so not thinking of getting out of my short anytime soon but i can see this going long, one think i know 100% price will go up and down lol

https://www.forexfactory.com/attachm...4&d=1510762729 Touched +50 pips from that last call yesterday.

If 1.1750 will not hold, and I will see confirmation down, based on that break, my next target is 1.1690

Cheers and green pips!

I agree.. Elliottians call it simply "Wave 4"

Stay Green

I'm going long here where 15M trendline meet 38.2fibo D

Hello friends!

PPI and CPI trades worked out exactly as expected- now onto the tax vote.

simply- I expect it to pass this round. The impact will largely be on US equities and secondary to dollar. there is still so much to unfold with the tax plan, it's hard to forecast technical perspectives vs yay/nay votes. So I shant Keeping with the PPI/CPI plan here- have pulled some profit and set breakeven + 20

yeah 2 and 4 are both corrective, 1,3,5 are impulse. It gets a lot more complex though than 12345 abc there are also running flats and wxy formations etc , it can take me days to come up with a good analysis.

As i said i believe we have completed a wave 4 at 1.1555 and should complete the 5 somewhere above 1.21. This scenario is valid as long as price doesnt break below 1.1555

Below is my H4 outlook which is solely based on pinched trendlines.. Roughly 1.1740 area looks like a bounce back area.. together with roughly 1.1709 area it would build a potential support zone..

Stay Green..

For the sake of transparency and not a change of heart. My algos are still net short (No. 2) but only a small position with profit locked in, in most cases.

HOWEVER, the algos have posted a cluster of buy stops above and around the upper median line of the Pitchfork at No. 1.

Since writing this post the algos have also posted buy stops from the No.1 right upto the high of yesterday. Now what does this mean? I am not going to check the code of each algos to let you know. All I can write is their long term accuracy is 73% and over the last few months have aligned quite nicely with Ata's directional plays. Obviously they haven't been triggered yet but the algos have positions for a potential pitchfork breakout as per the attached chart.

Personally, I'm still Bearish but will not bet against 73% odds should a breakout arise and will be closing the manual short placed at 1.1830.

Imaginary levels of strong support resistance

Hi there. Does anyone have a scenario where the tax bill doesn't pass?

there is that possibility as well.
they were talking about that because republicans are trying to insert parts of the law that was supposed to replace obamacare, in taxbill. so democrats are not happy about that.
they were talking about a plan B.
also, on the long run, tax bill is expected to have a negative influence because of the state tax.
in my opinion, no tax = weakness in usd, testing 1.2 again

it will go up

Better be prepared for those longs, but don't think it's time yet.

Like I said bounce on the trendline, fib 38.2 and new timezone would be ideal for long orders, around 1745x.

The previous high is a zone to watch, around 1845x.

First potential target is fibE 61.8 around 1925x - 1945x, before we get a corrective wave in intermediate uptrend.
This downmove could go further, but better be prepared.

R/R 3/1

just saw an interview with a guvernor. they say they have the votes to pass the bill

Source ?

bloombetg tv. i can't remember the name of the senator
i'll look for it

is it good or bad pro usd if approved?

Bad data for US, ready for some crazy reverse action? I have a feeling that USDX is gonna rise and EURUSD will fall more, lets see if im wrong!

So... If the vote pass, EU should drop?