Attachments: EURUSD only

EURUSD only

#9,381
Jan 16, 2018 5:02am Jan 16, 2018 5:02am

Bestof27
| Joined Aug 2016 | Status: Trader | 299 Posts

Quoting PioneerHC

Disliked

Woah, what is this spike?

Ignored

May be that :
https://www.forexfactory.com/news.php?do=news&id=730610

#9,382
Jan 16, 2018 5:05am Jan 16, 2018 5:05am

lebrinque
| Joined Oct 2017 | Status: Trader | 33 Posts

Quoting CyanideFX

Disliked

{quote} So what can you expect after this kind of support breaking?

Ignored

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 5:21am Jan 16, 2018 5:21am

CyanideFX
| Joined Jan 2018 | Status: Trader | 13 Posts

Quoting lebrinque

Disliked

{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...

Ignored

Thank you !!

#9,384
Jan 16, 2018 5:38am Jan 16, 2018 5:38am

Neil0163
Joined Jul 2017 | Status: Active member | 1,655 Posts

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 6:11am Jan 16, 2018 6:11am

Ata-Turkoglu
Joined May 2014 | Status: Full Time Trader | 27,280 Posts | Online Now

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

If we see a bearish breakout nearest support would be the previous breakout zone: 1.2130/60 area
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

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Focus only on what truly matters!

#9,386
Jan 16, 2018 6:20am Jan 16, 2018 6:20am

Neil0163
Joined Jul 2017 | Status: Active member | 1,655 Posts

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 6:23am Jan 16, 2018 6:23am

senna
| Additional Username | Joined Oct 2017 | 67 Posts

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 6:27am Jan 16, 2018 6:27am

mikeyang
| Joined Apr 2017 | Status: Trader | 2 Posts

Quoting senna

Disliked

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}

Ignored

At least some short-term resistance i think

#9,389
Jan 16, 2018 6:53am Jan 16, 2018 6:53am

digger1
Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,077 Posts

Quoting Neil0163

Disliked

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.

Ignored

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 6:56am Jan 16, 2018 6:56am

digger1
Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,077 Posts

Consolidation days the days range is a safe bet to play tho ,,,, the high and low buuuut

#9,391
Edited 7:40am Jan 16, 2018 6:59am | Edited 7:40am

TudorIoan
Joined Dec 2015 | Status: Trader | 14,259 Posts

Quoting senna

Disliked

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}

Ignored

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 7:53am Jan 16, 2018 7:53am

mizi123
Joined Jan 2015 | Status: Never underestimate value of an pip | 4,683 Posts

These can push price UP "maybe"

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#9,393
Jan 16, 2018 7:56am Jan 16, 2018 7:56am

Starcraftmaz
Joined Mar 2012 | Status: Trader | 1,984 Posts

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 8:00am Jan 16, 2018 8:00am

aarash
| Joined Sep 2009 | Status: Trader | 498 Posts

something broken??

#9,395
Jan 16, 2018 8:02am Jan 16, 2018 8:02am

digger1
Joined Jan 2010 | Status: The Voodoo Boodoo Club | 42,077 Posts

Quoting mizi123

Disliked

These can push price UP "maybe" {image}

Ignored

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 8:05am Jan 16, 2018 8:05am

mizi123
Joined Jan 2015 | Status: Never underestimate value of an pip | 4,683 Posts

Quoting digger1

Disliked

{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

Ignored

Definitly must come in da hous no choise

i agree friend

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