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  • #9,381
  • Jan 16, 2018 3:02am Jan 16, 2018 3:02am
Quoting PioneerHC
Woah, what is this spike?
May be that :
https://www.forexfactory.com/news.php?do=news&id=730610
  • #9,382
  • Jan 16, 2018 3:05am Jan 16, 2018 3:05am
Quoting CyanideFX
{quote} So what can you expect after this kind of support breaking?
Well that really depends on the situation but given we have seen a huge rally for the eur/usd lately, some pullback/bearish move is expected (in my opinion).

This was not a very significant support breaking - but generally when a support (or resistance) breaks, one can "expect" price to try/retest the same area/level again and then either continue (in this case down) or reject the lower price (and reverse for continous bullish moves)...

Im taking a guess its going down more.

My current order:
Limitorder SELL 2222

Stop 2271

Target 2190 (above yesterday high)

looks like i might have missed the next wave down, by looking at the chart right now...
  • #9,383
  • Jan 16, 2018 3:21am Jan 16, 2018 3:21am
Quoting lebrinque
{quote} Well that really depends on the situation but given we have seen a huge rally for the eur/usd lately, some pullback/bearish move is expected (in my opinion). This was not a very significant support breaking - but generally when a support (or resistance) breaks, one can "expect" price to try/retest the same area/level again and then either continue (in this case down) or reject the lower price (and reverse for continous bullish moves)... Im taking a guess its going down more. My current order: Limitorder SELL 2222 Stop 2271 Target 2190 (above...
Thank you !!
  • #9,384
  • Jan 16, 2018 3:38am Jan 16, 2018 3:38am
Still long bias price failiing to break my swing low potential entry for a long round this area should price not break my swing
  • #9,385
  • Jan 16, 2018 4:11am Jan 16, 2018 4:11am
Daily Outlook and Sweetspots for Wednesday

I expect nothing too excited for today and tomorrow so my focus area is narrowed down to the blue rectangle on chart, roughly between: 1.2213 and 1.2269

  1. If we see a bearish breakout nearest support would be the previous breakout zone: 1.2130/60 area
  2. If we see a bullish breakout nearest resistance would be big channel edge: 1.2340/50 area

Hope it helps.. my half cents..

Stay Green

Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #9,386
  • Jan 16, 2018 4:20am Jan 16, 2018 4:20am
Took a slight risky long at 1.2225
Still had my bullish bias as price didnt break my low,
Inside bar formed right near my swing low (trend change point) which my entry was at the top off
See how it plays out.
  • #9,387
  • Jan 16, 2018 4:23am Jan 16, 2018 4:23am
what's this mean. it seem ECB dont like eur too high

"ECB Unlikely Next Week To Drop Pledge To Keep Buying Bonds Until Inflation Heads To Target – RTRS Sources"
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  • #9,388
  • Jan 16, 2018 4:27am Jan 16, 2018 4:27am
Quoting senna
what's this mean. it seem ECB dont like eur too high "ECB Unlikely Next Week To Drop Pledge To Keep Buying Bonds Until Inflation Heads To Target – RTRS Sources" {image}
At least some short-term resistance i think
  • #9,389
  • Jan 16, 2018 4:53am Jan 16, 2018 4:53am
Quoting Neil0163
Took a slight risky long at 1.2225 Still had my bullish bias as price didnt break my low, Inside bar formed right near my swing low (trend change point) which my entry was at the top off See how it plays out.
Got an inside bar on the daily forming atm anyway,,,,,,some consolidation after the big move very typical but watch the 2240 level ,any sellers lurking they could be about to show up and try for a new low . Consolidation days think ninja , lol,,,,,,,,in out quick
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  • #9,390
  • Jan 16, 2018 4:56am Jan 16, 2018 4:56am
Consolidation days the days range is a safe bet to play tho ,,,, the high and low buuuut
  • #9,391
  • Edited 5:40am Jan 16, 2018 4:59am | Edited 5:40am
Quoting senna
what's this mean. it seem ECB dont like eur too high "ECB Unlikely Next Week To Drop Pledge To Keep Buying Bonds Until Inflation Heads To Target – RTRS Sources" {image}
Why would they like it high?! Euro is not like our dicks, the bigger and thicker, the best!

A stronger euro => bad for exports => less exports, bad for EU economy (especially for Germany, "the engine" of the EU economy)
If they give a hint about cutting of a part of QE that could be good news for euro!
...meaning they don't need to print more money as an economic stimulus, because they think EU economy can "walk" alone now, no need for help.
(not true, of course, but the idea matters)

But they are not doing that yet, according to that ECB news you got there.
Still buying bonds means => flooding the market with printed paper money, encouraging business ...meaning => economy still weak => means euro bearish
Member
  • #9,392
  • Jan 16, 2018 5:53am Jan 16, 2018 5:53am
These can push price UP "maybe"
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  • #9,393
  • Jan 16, 2018 5:56am Jan 16, 2018 5:56am
If you look 5m over the last 24h you can see the same bearish breakdown, slow buy back just past previous support followed by next breakdown. It's happened so many times in the last day, and this one looks just the same.
  • #9,394
  • Jan 16, 2018 6:00am Jan 16, 2018 6:00am
something broken??
  • #9,395
  • Jan 16, 2018 6:02am Jan 16, 2018 6:02am
Quoting mizi123
These can push price UP "maybe" {image}
Continuation if price is working up ,,,,,not so much when longer charts are turned down ,,,,,,you have to use them with a trend,, if you go even a little smaller timeframe yet you will see patterns pointing the other way and now a new low for the day
  • #9,396
  • Jan 16, 2018 6:05am Jan 16, 2018 6:05am
Quoting digger1
{quote} Continuation if price is working up ,,,,,not so much when longer charts are turned down ,,,,,,you have to use them with a trend,, if you go even a little smaller timeframe yet you will see patterns pointing the other way and now a new low for the day
Definitly must come in da hous no choise i agree friend
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  • #9,397
  • Jan 16, 2018 6:08am Jan 16, 2018 6:08am
Lol, another red flag in the news, it looks like they keep them coming every 3-4 hours just to be safe.
  • #9,398
  • Jan 16, 2018 6:10am Jan 16, 2018 6:10am
Quoting the3mp
Lol, another red flag in the news, it looks like they keep them coming every 3-4 hours just to be safe.
Pesonally im on safe side just enjoing the SHOW
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  • #9,399
  • Jan 16, 2018 6:11am Jan 16, 2018 6:11am
Quoting aarash
something broken??
Yea ,,,,last weeks high .
Attached Image (click to enlarge)
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  • #9,400
  • Jan 16, 2018 6:11am Jan 16, 2018 6:11am
Let’s add euro short on the way down ^^
Muahahahhahah...
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