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EURUSD - From Here to There

  • #21
  • Mar 8, 2020 11:55am Mar 8, 2020 11:55am
Quoting ben82
{quote} positive??? https://www.reuters.com/article/us-h...-idUSKBN20T1XN
We will likely find out sometime this week.
Learn from your mistakes and march on.
  • #22
  • Mar 8, 2020 2:04pm Mar 8, 2020 2:04pm
Euro still riding with the CHY and JPY to the upside. Though CHY and JPY gapped on open. Commodity pairs AUD NZD and CAD all gapped down.

Its a strange one for EUR. On Thurs so they cut even more below zero and that will help the bulls? Maybe it will. Lots of time to wait for the reversal or try and find a pullback to take on a long.
  • #23
  • Mar 8, 2020 2:10pm Mar 8, 2020 2:10pm
Quoting enarco
Euro still riding with the CHY and JPY to the upside. Though CHY and JPY gapped on open. Commodity pairs AUD NZD and CAD all gapped down. Its a strange one for EUR. On Thurs so they cut even more below zero and that will help the bulls? Maybe it will. Lots of time to wait for the reversal or try and find a pullback to take on a long.
Unfortunately, I can't see what you are referring to because I am in a different timezone. I will have to wait about 2 hours.
Learn from your mistakes and march on.
  • #24
  • Mar 8, 2020 2:14pm Mar 8, 2020 2:14pm
Good read....

https://www.poundsterlinglive.com/eu...arket-meltdown

It would apear that unless the US market and others start rolling bullish that the EURO will keep on rolling.
  • #25
  • Mar 8, 2020 2:19pm Mar 8, 2020 2:19pm
luckily my strategy is universal, so it provides a solution to current uncertainty.
I'm calm.
  • #26
  • Mar 8, 2020 2:23pm Mar 8, 2020 2:23pm
Quoting here2there
{quote} Unfortunately, I can't see what you are referring to because I am in a different timezone. I will have to wait about 2 hours.
The pre-market I guess I call it as the markets are open though wide spreads.

UY gaped down 1% UC gaped down similar EU climbed up and 0.42% higher.

Commodity pairs all weaker.
  • #27
  • Mar 8, 2020 2:29pm Mar 8, 2020 2:29pm
Quoting enarco
{quote} The pre-market I guess I call it as the markets are open though wide spreads. UY gaped down 1% UC gaped down similar EU climbed up and 0.42% higher. Commodity pairs all weaker.
Well, I am not surprised, as I did mention in my analysis that because it closed bullish on the Daily, there would be a chance EURUSD could go higher before retracing. However, it is getting quite ridiculous at this point.
Learn from your mistakes and march on.
  • #28
  • Mar 8, 2020 2:35pm Mar 8, 2020 2:35pm
Quoting here2there
{quote} Well, I am not surprised, as I did mention in my analysis that because it closed bullish on the Daily, there would be a chance EURUSD could go higher before retracing. However, it is getting quite ridiculous at this point.
I am maybe not going to be surprised if it goes to 1.15 to 1.16 if all this turmoil continues.

Yen is sitting at 104.3. This is crushing their economy for export.

Just like a strong Euro is crushing their economy.

Strange times.
  • #29
  • Mar 8, 2020 2:47pm Mar 8, 2020 2:47pm
Quoting enarco
{quote} I am maybe not going to be surprised if it goes to 1.15 to 1.16 if all this turmoil continues. Yen is sitting at 104.3. This is crushing their economy for export. Just like a strong Euro is crushing their economy. Strange times.
Assuming it continues to be bullish, I am thinking it will eventually make its way to somewhere around 1.17.
Learn from your mistakes and march on.
  • #30
  • Mar 8, 2020 2:51pm Mar 8, 2020 2:51pm
Wow gapping up nice
I play the trade gamble to feed my Porsche addiction.
  • #31
  • Mar 8, 2020 2:58pm Mar 8, 2020 2:58pm
all right guys,only basically should assumptions not open a position.
  • #32
  • Mar 8, 2020 3:27pm Mar 8, 2020 3:27pm
Some of Italy is on lockdown, can't see how the Euro could benefit from that.
  • #33
  • Mar 8, 2020 3:33pm Mar 8, 2020 3:33pm
Quoting investing101
Some of Italy is on lockdown, can't see how the Euro could benefit from that.
Nothing makes sense in this market anymore. And until they come up with a vaccine for the coronavirus, we will likely see more and more of this. Who knows, coronavirus may actually be a Black Swan. Global recession underway. It looks like it is going to be a hard year!
Learn from your mistakes and march on.
  • #34
  • Mar 8, 2020 3:34pm Mar 8, 2020 3:34pm
Quoting investing101
Some of Italy is on lockdown, can't see how the Euro could benefit from that.
Looks like the worse the situation is, the higher EU will go...when everything gets back to normal and corona is over, EU will go down. No reason to fight the market.
Everyone can see the chart, but only a few can actually read it.
  • #35
  • Mar 8, 2020 3:35pm Mar 8, 2020 3:35pm
Quoting OnlineAddict
{quote} Looks like the worse the situation is, the higher EU will go...when everything gets back to normal and corona is over, EU will go down. No reason to fight the market.
I agree.
Learn from your mistakes and march on.
  • #36
  • Mar 8, 2020 3:38pm Mar 8, 2020 3:38pm
Quoting OnlineAddict
{quote} Looks like the worse the situation is, the higher EU will go...when everything gets back to normal and corona is over, EU will go down. No reason to fight the market.
Well, I would agree except Europe is pushing for rate cuts and they have no interest in letting the Euro get out of hand, a good probability of it happening this week.
  • #37
  • Mar 8, 2020 3:44pm Mar 8, 2020 3:44pm
Quoting investing101
{quote} Well, I would agree except Europe is pushing for rate cuts and they have no interest in letting the Euro get out of hand, a good probability of it happening this week.
But a lot of time until thursday...the current EU growth is too fast to try short it before then. If it goes up until thursday, it may be a very good short.
Everyone can see the chart, but only a few can actually read it.
  • #38
  • Mar 8, 2020 3:44pm Mar 8, 2020 3:44pm
Quoting investing101
{quote} Well, I would agree except Europe is pushing for rate cuts and they have no interest in letting the Euro get out of hand, a good probability of it happening this week.
Well, I've got news for you. If EURUSD suddenly falls to the floor, I won't complain.
Learn from your mistakes and march on.
  • #39
  • Edited 4:36pm Mar 8, 2020 4:22pm | Edited 4:36pm
EURUSD has come to a critical point. And that is quite a gap there!

I do not believe this is sustainable. But lately, the Euro has been full of surprises. So anything can happen!

Attached Image (click to enlarge)
Click to Enlarge Name: gap.png Size: 21 KB


For those who like moving averages, the gold line on the image below is the 200 SMA, the blue line is the 100 SMA, and the red line is the 50 SMA. The fact that price has run up against both the 100 and the 200 SMAs, is significant, especially considering this is a weekly chart and price is being rejected at a key area of resistance.

Attached Image (click to enlarge)
Click to Enlarge Name: moving averages.png Size: 21 KB


Could EURUSD continue moving higher? Sure. But by how much? And how long will it last? At some point EURUSD has to correct. What goes up must come down, right?

I don't think it will be too long before we see EURUSD retrace somewhere within the price range of 1.11954 to 1.11042. However, please keep in mind that a close above the previous Week's high will invalidate a potential retracement to the this price range.
Learn from your mistakes and march on.
  • #40
  • Mar 8, 2020 5:49pm Mar 8, 2020 5:49pm
This might not be anything new to other traders who have been trading longer than I have, but I have never seen anything like this before. Wrath has taken hold of USD and is furiously shaking the life out of it.
Learn from your mistakes and march on.
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