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  • #112,801
  • Jul 23, 2020 12:54pm Jul 23, 2020 12:54pm
hard for price for higher more today , may be for retracement more
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The Average Discount Everything
  • #112,802
  • Jul 23, 2020 1:21pm Jul 23, 2020 1:21pm
Still Bull territory as i'm trading swing right now im gonna give a couple different breakdowns.

1.2~ region is definitely in sight for this pair that being said it will be a bumpy road.

you can see in the shorter time frame that some bear potential and better buy in positions are a almost definite dip to happen.

I am in at 1.1607 but may put in another buy when it dips to around 1.155-1.156 as well there is no sign of stoppage just corrections and some scalping or day trades.

Happy Pip hunting So glad we are out of week long consolidations.
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  • #112,803
  • Jul 23, 2020 1:42pm Jul 23, 2020 1:42pm
As market is tanking and SPX is completed running, risk averse, won't be surprised to see it drops all the way down if not today, maybe tomorrow.
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  • #112,804
  • Jul 23, 2020 4:12pm Jul 23, 2020 4:12pm
Quoting Ata-Turkoglu
Meanwhile and in times of Covid-19, I think Europeans can't sell sh*t with these rising currency prices.. Just saying Stay Green
Don‘t forget that the largest export destination for European countries is Europe itself..
Another day, another dollar.
  • #112,805
  • Jul 23, 2020 4:25pm Jul 23, 2020 4:25pm
Quoting gatenio
{quote} im thinking about it for few days. more then that, export/hi tech/salaries everything is about the dollar. i dont get it. in such bad times. when the dollar should be the strongest we get 1.16+
Usually the USD is strongest during acute downturns and it was. But now the downturn is over and much of the rest of the world offers a larger rate of return. The rate differential to the eurozone collapsed. Additionally you have a second wave which hits the US but not Europe and European leaders made a historic deal which decreases the breakup risk substantially. In fact the EURUSD could in the long-term even return to its purchasing power parity which sits around 1.41 according to the OECD and has been a strong anchor in the past. Just compare how the dollar has been dumped after recessions in the past.
Another day, another dollar.
  • #112,806
  • Jul 23, 2020 5:17pm Jul 23, 2020 5:17pm
Quoting nic9man
{quote} Usually the USD is strongest during acute downturns and it was. But now the downturn is over and much of the rest of the world offers a larger rate of return. The rate differential to the eurozone collapsed. Additionally you have a second wave which hits the US but not Europe and European leaders made a historic deal which decreases the breakup risk substantially. In fact the EURUSD could in the long-term even return to its purchasing power parity which sits around 1.41 according to the OECD and has been a strong anchor in the past. Just...
Very possible but we see what happens at 1.17.
Make it Green
  • #112,807
  • Edited 8:38pm Jul 23, 2020 8:18pm | Edited 8:38pm
I think so today is 1.17 no more choice for the market due still very bad fundamental usd and the added impact of the positive increase in infection, including the death rate from corona virus which is increasing, hopefully all this will soon end with the right action to overcome it
The Average Discount Everything
  • #112,808
  • Jul 23, 2020 9:50pm Jul 23, 2020 9:50pm
I agreed with Ata, during this time, i think Europeans cannot do much with higher currency.
  • #112,809
  • Jul 23, 2020 9:59pm Jul 23, 2020 9:59pm
next
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Like me, cuts losses quickly. But has more patience and lets his winn
  • #112,810
  • Jul 23, 2020 11:25pm Jul 23, 2020 11:25pm
Quoting hesron
hard for price for higher more today , may be for retracement more {image}
maybe you are right its friday already. maybe one last push and pull back leaving a long wick for the knife catchers.
Whatever is happening right now has happened before and will happen again.
  • #112,811
  • Jul 24, 2020 1:22am Jul 24, 2020 1:22am
Quoting mnmnmmnnmnmn
{quote} maybe you are right its friday already. maybe one last push and pull back leaving a long wick for the knife catchers.
hehehe hope so .... all depend on smart money want .... not us
The Average Discount Everything
  • #112,812
  • Jul 24, 2020 1:41am Jul 24, 2020 1:41am
[email protected]

SL 20 pips

TP open

Risky.
  • #112,813
  • Jul 24, 2020 2:08am Jul 24, 2020 2:08am
I believe weekly should close below 1.152 to see trend reversal next week. Otherwise, more uncertainty.
  • #112,814
  • Jul 24, 2020 2:11am Jul 24, 2020 2:11am
Quoting hesron
hard for price for higher more today , may be for retracement more {image}
This correct 2014 trendline with support and resistance of 2005, 2015-2018 now at this area 2020, hard to push through, will bet for a reversal for this one.
  • #112,815
  • Jul 24, 2020 2:22am Jul 24, 2020 2:22am
Quoting MarkStep
{quote} This correct 2014 trendline with support and resistance of 2005, 2015-2018 now at this area 2020, hard to push through, will bet for a reversal for this one.
I agree but for me the trendline is somewhat higher, I believe 1.1680 is the point. However, the exact point is quite uncertain as the line reaches back so long. Besides, a fake breakout is also likely when the first shorts have positioned with their stop losses accordingly. I don‘t think that the first shorts on the line will be the successful ones.
Another day, another dollar.
  • #112,816
  • Jul 24, 2020 2:54am Jul 24, 2020 2:54am
Quoting nic9man
{quote} I agree but for me the trendline is somewhat higher, I believe 1.1680 is the point. However, the exact point is quite uncertain as the line reaches back so long. Besides, a fake breakout is also likely when the first shorts have positioned with their stop losses accordingly. I don‘t think that the first shorts on the line will be the successful ones.
I see that market uncertain now .... well to see big momentum ... correction not yet complete ....
The Average Discount Everything
  • #112,817
  • Jul 24, 2020 3:37am Jul 24, 2020 3:37am
Wow, amazing German PMIs and quite remarkable that not even a 2% equity drop causes the USD to rise. Looks like the typical correlation might be breaking down here which could indicate a big USD drop ahead. Although I am generally biased towards USD weakness because I consider the euro way too cheap and the USD way too expensive I have to admit.
That said equities reach a strong support line at this point and with a dovish FED next Wednesday in sight a strong sellof gets unlikely.
I think this long-term EURUSD resistance line could be broken right away. Because I feel many traders have the same thing in mind now. Trade for a correction of the line then long to 1.20. Meaning they position themselves short when actually they want to be long. In such cases the medium term view often materializes directly.
Another day, another dollar.
  • #112,818
  • Jul 24, 2020 3:41am Jul 24, 2020 3:41am
H4 Status Update

Bulls need a close above 1.1608 and then also 1.1627.. Bears need a break below nearest supportive trendline (purple) which would be roughly a close below 1.1595 in the next 8 to 12 hours.. Nothing bearish here yet! Only bulls showing little exhaustion! I took profit at 1.1594 and will be waiting on sidelines until I clearly see where this goes..

Stay Green
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Focus only on what truly matters!
  • #112,819
  • Jul 24, 2020 3:45am Jul 24, 2020 3:45am
Eur
After long bullish movements and good news
there is just noise up and down few pips
Usually these lead to big correction
Bearish DV pushed it
  • #112,820
  • Jul 24, 2020 4:04am Jul 24, 2020 4:04am
Quoting peyman
Eur After long bullish movements and good news there is just noise up and down few pips Usually these lead to big correction Bearish DV pushed it
Good point - or brokers are just collecting lots of shorts here in order to get more firepower for an up-squeeze.
Another day, another dollar.
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