EURUSD only

Hi ata. Why 1750 ? Coz it has a number of daily highs lows and closes?

AGREE!

This may be because Services PMI has been struggling, in short, Consumers have not demanded for goods, as they have been noted saving money and slowing their spending, hence, why retail sales have also been struggling. On the contrary,there has been more orders, consumption and credit from the private sector; however, there has been lower corporate profits. This strongly suggests america is attempting to rebuild its economy by financing businesses and their assets in hopes of high demand, but it found itself struggling to see demand after all. Consumers remain at home, evident by high mortgage applications and rise in new home sales, adverse to labor, evident by higher initial claims this week ( although higher Labor participation rate long term) With durable goods and retail sales lower while manufactuing PMI and Capital goods higher, there is more obvious evidence that production and manufacturing are booming. Questions are how will they consumer react once everything is built and prepared for them to go out an physically buy everything thats been produced? what will be next weeks catlyst to move price dramatically?

Next two-three weeks will show how the consumer has been responding to the economy after a pandemic in form of labor and consumption, as next week, we will get unemployment figures, NFP figures, prices on baskets of goods ( CPI), and interestingly , presidential debate were we might hear some information on fiscal policy (stimulus talks). So next week may be interesting.

At the time of this writing, EURUSD has been a little stuck for this morning's NY session near 1.16350. Alerts have been set just below for engulfing bear candles and break of 5M support as we currently see double tops in the same time-fame as RSI rides towards overbought but price remains stuck near support. Break coming this weekend? Targets @ March High near 1.1500

A pinbar on H1 would have a probability for buy.

Sighs! What took you so long dear bears? Finally 1.1620 it is.. market reached its long awaited climax..

Next we must see how 1.1609 reacts!

Stay Green

1480 anyone?

still looking for that hammer?

Active

Not the hammer but I still expect bulls to kick in for a retest towards 1.1750.. Hopefully next week.. And once retests are done, then bears will probably continue their journey towards 1.1500.. Time will tell..

*Seems like in a delayed way I still will get a hammer! lol

Stay Green

I agree with you Ata, next week we'll enter the end of sept, usually rebalancing will be happening. Could be dollar sell off.
I do hope so it will climb up to 1.17xxx area to enter short for the better price..

Great short movement off H4 resistances.

Usually rebalancing only triggers a dollar selloff if stocks increased because the US stock market is by far the largest and when stocks increased investors have to hedge their rising USD exposure (selling forward USD). However, this month stocks decrased, so the effect should be the other way around, though perfectly anticipated. So not sure how it will play out, maybe the market starts to rebound Wednesday evening after the rebalancing.

Closed all the shorts @1.1620. Expecting the daily to close around 1.1628.

See you guys on Monday.

Trade safe and stay safe.

I will be scalping again like last Wednesday

Nice call man!

I always said Fibs never lie or Repaint

and i was double sure about 1.1611 entry/exit

Picture Speaks a Thousand words. See the image.

1st is sept monthly daily candle and other one is 1 D ay Daily chart

I request all the Smart Traders out there to post a picture for a better understanding

Thanks & Regards

This is based on 4hrs.

Hi guys! EURUSD could continue acting bearish next week. 1.1500 target

long live Belarus
žyvie Bielaruś

I agree and have to repeat that there is too much code in institutions, that use libraries that are based on Fibo. Clear to see when you analyse charts.
Just one problem remains: in which direction will the levels be hit? In your D1 example, this Friday could have used the 100%-78.6% as well. Especially after the green candle from Thursday.

Anyway, here is the weekly:
The trend channel has been left and the candle closed outside. And now? Will it return back into the channel or is this the trend change?