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EURUSD

  • #1,167,941
  • Apr 29, 2020 5:57pm Apr 29, 2020 5:57pm
Quoting princeali115
Looking to hold for now if we do break though i will stop my trades and take a small loss and flip to a buy but this level is important one to break it seems! {image}
Indeed, that is an important level. But I have learned the more a level gets hit, the more likely it is to break. However, I think there is a chance price will retrace before that happens. It's hard to tell. This pair has become difficult to read lately.
Learn from your mistakes and march on.
  • #1,167,942
  • Apr 29, 2020 6:10pm Apr 29, 2020 6:10pm
The key to trade this pair is you need to trade both short and long scalps. Trade the range and you will make pips. I personally only trade this pair and lately I have found trading the range works well. Look for 5-10 pips per trade and you will make pips. It’s hard to predict this pair the next day so get flat at the end of the day. Wait to trade around the New York open once the pair has developed a pattern for the day. There is no magic just use the price action to guide you. You are correct we need to see a decent break of 1.0880-1.09 to see it go much higher.

Cheers

Jeff
I EAT PIPS
  • #1,167,943
  • Apr 29, 2020 6:22pm Apr 29, 2020 6:22pm
Closed sell trade in profit will wait on sideline now
Master your mind. Master Trading.
  • #1,167,944
  • Apr 29, 2020 7:37pm Apr 29, 2020 7:37pm
Quoting Techanalyst
Looks like it may go up slowly. {image}


Good call dude! Cute story. Assume you walked your talk and got stopped out on a tight stop long position.

I meanwhile just booked $2k - so far.
  • #1,167,945
  • Apr 29, 2020 7:47pm Apr 29, 2020 7:47pm
Quoting QuantemPips
{quote} Good call dude! Cute story. Assume you walked your talk and got stopped out on a tight stop long position. I meanwhile just booked $2k - so far.
Price went down about 20 pips due to this news:
https://www.forexfactory.com/news/99...n-accomplished

Calm down, daily shows it is going up. No stop loss was hit, and i have no positions open on eurusd. I have a sell on USDJPY, stop loss spread so it does not get hit. You did not book anything since this move just happened without being announced in advance. Cute story though for sure.
  • #1,167,946
  • Apr 29, 2020 7:52pm Apr 29, 2020 7:52pm
just opened another buy ...
Work Hard In Silence, Let Your Success Be Your Noise.
  • #1,167,947
  • Apr 29, 2020 8:02pm Apr 29, 2020 8:02pm
Quoting Techanalyst
{quote} Price went down about 20 pips due to this news: https://www.forexfactory.com/news/99...n-accomplished Calm down, daily shows it is going up. No stop loss was hit, and i have no positions open on eurusd. I have a sell on USDJPY, stop loss spread so it does not get hit. You did not book anything since this move just happened without being announced in advance. Cute story though for sure.
The news you are referring to was earlier today. It was during the FOMC press conference. It is a recap of what came out of it. The euro has gone down the past 55 minutes from comments Trump just made about China. It caused some USD strength.



Cheers

Jeff
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I EAT PIPS
  • #1,167,948
  • Apr 29, 2020 8:22pm Apr 29, 2020 8:22pm
Quoting jshear
{quote} The news you are referring to was earlier today. It was during the FOMC press conference. It is a recap of what came out of it. The euro has gone down the past 55 minutes from comments Trump just made about China. It caused some USD strength. Cheers Jeff {image}
True, but reaction happened recently because of it. Trade safe.
  • #1,167,949
  • Apr 29, 2020 8:29pm Apr 29, 2020 8:29pm
Hey everyone. Hope everyone's doing great this week. Very nice week with lots of economic data.

I wanted to share my thoughts on this pair. Just love to contribute. That's all. We all know the trading game. Game of using your edge in correlation to probabilities.
Anything can happen.
So fun!

The pair has mostly spent its time, except last Thursday and Friday, in this range. (Between this week's Pivot Point and R1, Fibonacci-based)
(Credit to Davit and his very disciplined approach and knowledgeable thread here on ForexFactory)

Attached Image (click to enlarge)
Click to Enlarge Name: EU.PNG Size: 36 KB


This week, till now, we saw the bearish sentiment on USD. As seen on majors USDJPY, USDCAD, AUDUSD and NZDUSD.
The fundamental bias was:
1- Both Australia and New Zealand have eased the lockdowns and started reopening their economies.
2- Grim data on US first quarter GDP.

I personally think these factors, among others that I may not be aware of, have been what has caused the decline on USD.

Seeing that we also expect negative data for the EURO tomorrow, and perhaps an ease in the number of Unemployment Claims in the US, I think the probability of the pair remaining in its range is high.

On another note, I'd like to address the possible Head and Shoulders pattern that has formed and been denied (for now). Something to consider.

Attached Image (click to enlarge)
Click to Enlarge Name: EU H and S.PNG Size: 41 KB


Happy trading everyone. Hope you all have profitable trades!

-Moe
When there's a will, there's a way.
  • #1,167,950
  • Apr 29, 2020 8:30pm Apr 29, 2020 8:30pm
Be patient with the buy here
Master your mind. Master Trading.
  • #1,167,951
  • Apr 29, 2020 8:35pm Apr 29, 2020 8:35pm
Quoting princeali115
Be patient with the buy here
Why?
  • #1,167,952
  • Apr 29, 2020 9:01pm Apr 29, 2020 9:01pm
Quoting princeali115
Be patient with the buy here
i agree , news day tomorrow so expect maybe one last retracment. No rush
  • #1,167,953
  • Apr 29, 2020 9:54pm Apr 29, 2020 9:54pm
Quoting Londonboy24
{quote} i agree , news day tomorrow so expect maybe one last retracment. No rush
Exactly very good my friend usd is weak but eur can suffer too expecting bad news tomorrow so we must be cautious here seems like we will range
Master your mind. Master Trading.
  • #1,167,954
  • Apr 29, 2020 10:18pm Apr 29, 2020 10:18pm
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yes yes yes
  • #1,167,955
  • Apr 30, 2020 12:08am Apr 30, 2020 12:08am
Hi all,
sell 0859

TP 0820
H4 chart
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  • #1,167,956
  • Apr 30, 2020 12:34am Apr 30, 2020 12:34am
Quoting 4experience
Hi all, sell 0859 TP 0820 H4 chart {image}
Closed -4
reversal
M5 chart
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  • #1,167,957
  • Apr 30, 2020 12:43am Apr 30, 2020 12:43am
I don't know if, this weaknes will hold, but today we should see some volume. Waiting for the break, seems that EU has some upside pressure and it may released and take the tops.
Looking for profitable short term trades ...|
  • #1,167,958
  • Apr 30, 2020 12:44am Apr 30, 2020 12:44am
H4 chart
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  • #1,167,959
  • Apr 30, 2020 12:46am Apr 30, 2020 12:46am
Quoting Js3mwtRc
I don't know if, this weaknes will hold, but today we should see some volume. Waiting for the break, seems that EU has some upside pressure and it may released and take the tops.
0890 is the resistance to break.
If yes 0890 is a very possible target
  • #1,167,960
  • Apr 30, 2020 12:50am Apr 30, 2020 12:50am
@Moty,
I like your charts...My thoughts(Hope chart helps),
Attached Image (click to enlarge)
Click to Enlarge Name: 2020-04-30 11_48_15-5017575_EURUSD-M30.png Size: 40 KB
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