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  • #94,601
  • Edited 5:36am Sep 11, 2019 3:13am | Edited 5:36am
I see weird PA... Maybe tomorrow will be more different then most of us thought at the beginning of the week. Direction for today is south, but I think tomorrow that may be different...

as Ata says time will tell.. but I expect a cut of 10 bp and a delay of the QE. This can result in a spike to 1,11
  • #94,602
  • Edited 3:43am Sep 11, 2019 3:23am | Edited 3:43am
Quoting post
Not touching her today, waiting for ECB to deliver, Draghi &Co could disappoint the market big time by being less dovish ?? why ..cause dont think they have much room for being too dovish... plus talks of fresh fiscal stimulus from Germany keeping the bears in check... hmmm Bears need to be careful... Happy Trading

Just placed buy orders .. in case
Buy Order: 1.1001, 1.0990, 1.0963 SL & TP open (Only valid for today)

Happy Trading
Trades technical moves enforced by fundamentals
  • #94,603
  • Sep 11, 2019 3:24am Sep 11, 2019 3:24am
It's broken down from H1 triangle. ECB is most unlikely to be hawkish tomorrow. Get ready to jump in on the retrace.
Believe you can and make it happen.
  • #94,604
  • Edited 3:51am Sep 11, 2019 3:27am | Edited 3:51am
Quoting Aldro
It's broken down from H1 triangle. ECB is most unlikely to be hawkish tomorrow. Get ready to jump in on the retrace.
It's not about ECB being hawkish.. at present economic circumstances they dont have the luxury for that... it's more about Dovish or less Dovish...

Market has priced in a 20bps cut + generous QE and a 10bps cut with not enough QE could see EU flying short term.

Happy Trading
Trades technical moves enforced by fundamentals
  • #94,605
  • Sep 11, 2019 3:47am Sep 11, 2019 3:47am
Quoting post
{quote} Just placed buy orders .. in case Buy Order: 1.1001, 1.0990, 1.0963 SL & TP open (Only valid for today) Happy Trading
Same here bro. Placed pending buy limits. I don't like the fact that London moved down without taking out Asia high. Many times we have to get back above that area.
  • #94,606
  • Sep 11, 2019 3:58am Sep 11, 2019 3:58am
Quoting post
{quote} It's not about ECB being hawkish.. at present economic circumstances they dont have the luxury for that... it's more about Dovish or less Dovish... Market has priced in a 20bps cut + generous QE and a 10bps cut with not enough QE could see EU flying short term. Happy Trading
if eur rate cut 20bp and 10 bps then eur should be down but you are saying it should be flying short term . why ????
  • #94,607
  • Sep 11, 2019 4:05am Sep 11, 2019 4:05am
Quoting rameeztr
{quote} if eur rate cut 20bp and 10 bps then eur should be down but you are saying it should be flying short term . why ????
It's about market expectation. Market expecting a 20bps cut and priced in(or mostly) the EU according to it .. so a 10bps cut would be still a dovish move but market will see that as less dovish/hawk move by ECB

Happy Trading
Trades technical moves enforced by fundamentals
  • #94,608
  • Sep 11, 2019 4:10am Sep 11, 2019 4:10am
Quoting post
{quote} It's about market expectation. Market expecting a 20bps cut and priced in(or mostly) the EU according to it .. so a 10bps cut would be still a dovish move but market will see that as less dovish/hawk move by ECB Happy Trading
Exactly what I thought! 10 bp cut are already included in the price..
  • #94,609
  • Sep 11, 2019 4:27am Sep 11, 2019 4:27am
Quoting Mystskull
Sell 1.10517 SL 1.10717 TP 1.10173 Let's see if this range holds.
Moved TP to 1.09457...really tempted to close this trade but it seems like it would be ready to head down soon either today or tomorrow, at least that is what it seems currently. Mentioned previously back in 9 august that i thought waiting 8 hours for an intraday trade to play out was being patient, now i have waited 44 hours . Hopefully this plays out well.
  • #94,610
  • Sep 11, 2019 4:42am Sep 11, 2019 4:42am
Quoting post
{quote} It's about market expectation. Market expecting a 20bps cut and priced in(or mostly) the EU according to it .. so a 10bps cut would be still a dovish move but market will see that as less dovish/hawk move by ECB Happy Trading
your meaning 20bps and 10 bps are minor cut rates. it has less dip effects on eur prices. ???
  • #94,611
  • Sep 11, 2019 4:47am Sep 11, 2019 4:47am
On another thought, today may just be sell day. This trendline broke and 1030 also broken by all timeframes from 4hr below.

EU 1hr chart:
Attached Image (click to enlarge)
Click to Enlarge Name: PSX_20190911_103926.jpg Size: 71 KB
  • #94,612
  • Sep 11, 2019 4:50am Sep 11, 2019 4:50am
Quoting rameeztr
{quote} your meaning 20bps and 10 bps are minor cut rates. it has less dip effects on eur prices. ???
Please read it again carefully it's been already explained. Thank you.

Happy Trading
Trades technical moves enforced by fundamentals
  • #94,613
  • Sep 11, 2019 5:03am Sep 11, 2019 5:03am
Marking 1.1025/30 as nearest resistance on H1.. Waiting for nearest target: 1.1002

Stay Green
Focus only on what truly matters!
  • #94,614
  • Edited 6:04am Sep 11, 2019 5:20am | Edited 6:04am
Quoting Mystskull
Sell 1.10517 SL 1.10717 TP 1.10173 Let's see if this range holds.
Moved SL to 1.10317
  • #94,615
  • Sep 11, 2019 5:27am Sep 11, 2019 5:27am
Quoting Mitiblotch
On another thought, today may just be sell day. This trendline broke and 1030 also broken by all timeframes from 4hr below. EU 1hr chart: {image}
on 4h it's still a mystery..

1.5 hour to go
  • #94,616
  • Sep 11, 2019 5:40am Sep 11, 2019 5:40am
Eur is ovesold H1,but its nothing, on H4 sells only start its on the middle,but maybe ECB tomorrow can change plans
  • #94,617
  • Sep 11, 2019 5:41am Sep 11, 2019 5:41am
Quoting rameeztr
{quote} your meaning 20bps and 10 bps are minor cut rates. it has less dip effects on eur prices. ???
He means that market already expect a cut rate, so market is reacting to that expectation. But when ECB will cut the rates with 10 bp and traders expecting 20 bp, that can be seen as dovish. Then the direction will be north.
  • #94,618
  • Sep 11, 2019 5:43am Sep 11, 2019 5:43am
Quoting Leodavinci
Sell 1.1047 sl 1.1060 tp 1.0952 Edit tp 1.0994
Moved sl 1.1047 tp 1.0950
  • #94,619
  • Sep 11, 2019 5:59am Sep 11, 2019 5:59am
Buy limit @ 1.10068
Tp open
Sl 30 pips
Risk comes from not knowing what to do
  • #94,620
  • Sep 11, 2019 6:02am Sep 11, 2019 6:02am
Marking 1.1015/20 as nearest resistance on H1.. Waiting to see if 1.1002 supports or not..

Stay Green
Focus only on what truly matters!
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