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  • #1,163,161
  • Feb 27, 2020 8:18pm Feb 27, 2020 8:18pm
Quoting EvilEye
Price is rolling off to the downside up here. put some shorts on with very tight stops . this will end the cycle and prepare us for a new one next week.
Indeed, people need to proceed with caution either way. Market conditions are very unstable. Anything can happen.
Learn from your mistakes and march on.
  • #1,163,162
  • Feb 27, 2020 8:52pm Feb 27, 2020 8:52pm
I believe this is why EURUSD is moving up so strongly. And this is the Weekly chart, by the way!
Attached Image (click to enlarge)
Click to Enlarge Name: crushing blow.png Size: 64 KB

This is a very serious matter, as it will likely lead to a major recession which will have global impact if it doesn't stop falling.

It may be in our best interest to stop thinking about shorting EURUSD. It could be possible we have a trend reversal in progress on this pair. Time will tell.

Be careful!
Learn from your mistakes and march on.
  • #1,163,163
  • Feb 27, 2020 8:56pm Feb 27, 2020 8:56pm
Quoting here2there
It could be possible we have a trend reversal in progress on this pair. Time will tell. Be careful!
That time will be next week (also next month)
today is a shorting day to profit take end of week/month

will definitely be interesting on Monday
  • #1,163,164
  • Feb 27, 2020 9:03pm Feb 27, 2020 9:03pm
Quoting here2there
I believe this is why EURUSD is moving up so strongly. And this is the Weekly chart, by the way! {image} This is a very serious matter, as it will likely lead to a major recession which will have global impact if it doesn't stop falling. It may be in our best interest to stop thinking about shorting EURUSD. It could be possible we have a trend reversal in progress on this pair. Time will tell. Be careful!
when trading eur pairs follow eur index not usd index
  • #1,163,165
  • Feb 27, 2020 9:13pm Feb 27, 2020 9:13pm
Quoting PatienceFx
{quote} when trading eur pairs follow eur index not usd index
You do technical analysis your way and I will do technical analysis my way.

Having said that, it makes perfect sense to me to look at the state of USD when doing technical analysis on EURUSD. It's unfortunate you don't see the importance of this.
Learn from your mistakes and march on.
  • #1,163,166
  • Feb 27, 2020 9:18pm Feb 27, 2020 9:18pm
Quoting EvilEye
{quote} ...will definitely be interesting on Monday
It will also be interesting to see the COT report on Friday.
Learn from your mistakes and march on.
  • #1,163,167
  • Feb 27, 2020 10:26pm Feb 27, 2020 10:26pm
As in double support areas usdx may try for minimal correction, so eurusd too reaches 1.1006, 1.1012 +ok too if as over 0998 may warrent correction limit 0908, minimum goes below 0959,48 or 32 to up next target 1.1073/97. So targeting carefully minimum target if ok work, sl as above 1.1030.
Attached Image
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,163,168
  • Feb 27, 2020 10:46pm Feb 27, 2020 10:46pm
The following link is to an article which sheds light on why the DOW plummeted further today. What happen to the DOW is relevant to this thread because it impacts USD. This appears to explain why EURUSD soared, more than doubling its ADR in a single day!

https://www.ccn.com/this-is-why-the-...-straight-day/
Learn from your mistakes and march on.
  • #1,163,169
  • Edited 11:11pm Feb 27, 2020 10:54pm | Edited 11:11pm
  •  dmj120
  • | Joined Jan 2020 | Status: Newbie with professional aspiration | 108 Posts
Quoting here2there
The following link is to an article which sheds light on why the DOW plummeted further today. What happen to the DOW is relevant to this thread because it impacts USD. This appears to explain why EURUSD soared, more than doubling its ADR in a single day! https://www.ccn.com/this-is-why-the-...-straight-day/
Thanks for the article. If I’m not mistaken, isn’t a fed rate cut usually a boon to the euro because of the “dollar weakening?” So if rates drop, euro should continue upward.... unless my crystal ball needs a good cleaning hahaha
School of hard knocks
dmj120 Return This Year: na
  • #1,163,170
  • Feb 27, 2020 11:09pm Feb 27, 2020 11:09pm
Quoting dmj120
{quote} Thanks for the article. If I’m not mistaken, isn’t a fed rate usually a boon to the euro because of the “dollar weakening?” So if rates drop, euro should continue upward.... unless my crystal ball needs a good cleaning hahaha
I think you are correct.

My reason for mentioning the DOW is because I was recently made aware of its correlation to USD.

"The value of American stocks, especially those that are included in market indexes, tend to increase along with the demand for U.S. dollars – in other words, they have a positive correlation." — Investopedia
Source: https://www.investopedia.com/ask/ans...orrelation.asp
Learn from your mistakes and march on.
  • #1,163,171
  • Feb 27, 2020 11:40pm Feb 27, 2020 11:40pm
By the way, if any of you are wondering why I don't comment on the EURUSD Only thread, it's because the guy who started it blocked me from commenting because he apparently didn't like what I had to say about his harmonic patterns.

It's a shame, because I feel the content I share here would also be of benefit to that thread.
Learn from your mistakes and march on.
  • #1,163,172
  • Feb 27, 2020 11:50pm Feb 27, 2020 11:50pm
waiting for revarsal candle today
Attached Image(s) (click to enlarge)
Click to Enlarge Name: dx.png Size: 40 KB
Click to Enlarge Name: eu.png Size: 35 KB
yes yes yes
  • #1,163,173
  • Feb 28, 2020 12:03am Feb 28, 2020 12:03am
Quoting Moty
waiting for revarsal candle today {image} {image}
I would be happy to see one of those candles.
Learn from your mistakes and march on.
  • #1,163,174
  • Feb 28, 2020 12:05am Feb 28, 2020 12:05am
New high hit so scratch then short candles.
Looking for consolidation wherever we end up
With such a weak pullback I guess we will continue on up next week... standing aside for now
  • #1,163,175
  • Feb 28, 2020 12:08am Feb 28, 2020 12:08am
Quoting EvilEye
New high hit so scratch then short candles. Looking for consolidation wherever we end up
And we are only about 60 pips away from the Average Monthly Range High.
Learn from your mistakes and march on.
  • #1,163,176
  • Feb 28, 2020 12:12am Feb 28, 2020 12:12am
Quoting here2there
{quote} And we are only about 60 pips away from the Average Monthly Range High.
when market is in a panic mode, technicals are best ignored
  • #1,163,177
  • Feb 28, 2020 12:15am Feb 28, 2020 12:15am
Quoting PatienceFx
{quote} when market is in a panic mode, technicals are best ignored
I respect your right to an opinion, but I must disagree with you on this.

Technical analysis is always relevant, and should never be ignored.
Learn from your mistakes and march on.
  • #1,163,178
  • Feb 28, 2020 12:43am Feb 28, 2020 12:43am
EURUSD is continuing its upmove ignoring virus and a possible recession in Germany, or even a World crisis.

I believe that Banks used it as a funding currency and they sell Dollars for EU and when we will have an upside correction in DOW and SP 500 then we will see it fall again, but it needs much patience to wait for a pullback and get a good entry, now any seller will have a drawdown, or loss selling this pair.

It is better to try and buy this pair yet, but I don't see it correcting at least some pips for the day.

Also this is the last day of Feb. so caution.
Looking for profitable short term trades ...|
  • #1,163,179
  • Feb 28, 2020 12:45am Feb 28, 2020 12:45am
Quoting auricforecas
BTW guys, I moved to WTI, GOLD (posting) for quite some time (months) now, but since I have been in the EURUSD so long, I use it for control or "callibration" So if anyone of you care for some QUICK BURSTS signals, welcome to STOP BY the CHEETAHs Some appetiser for you, anyone wants FREE 5PIPS signal? BUY
You are welcome
Can you afford to take that chance?
  • #1,163,180
  • Feb 28, 2020 2:13am Feb 28, 2020 2:13am
Now that’s not fair. i had no opportunity to jump on this
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