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EURUSD only

  • #116,761
  • Oct 21, 2020 7:42am Oct 21, 2020 7:42am
Quoting Starcraftmaz
Man what the hell, eu surprising me a lot lately! Such a sharp turn-around, I don't get what's driving this whole move.
election, brexit, stimulus..
  • #116,762
  • Oct 21, 2020 7:46am Oct 21, 2020 7:46am
Quoting lucky1359
{quote} 1.1881 - 1.1891 - 1.1896 area needs to be watched closely till then sidelines is good ADR also supports the same and the 161.8 weekly fibo @ 1.1891
I like your 1.1881..

Stay Green
Focus only on what truly matters!
  • #116,763
  • Oct 21, 2020 7:57am Oct 21, 2020 7:57am
The Thing to be thought is nobody is gonna buy at this levels so who the hell is pushing eurusd upwards
  • #116,764
  • Oct 21, 2020 7:59am Oct 21, 2020 7:59am
i was thinking and waiting for the 5 to 10 pips - instant push to scare the traders at this level and to touch the stop losses
then slowly slowly going down and giving 20 pips back
  • #116,765
  • Edited 8:49am Oct 21, 2020 8:00am | Edited 8:49am
My forecast kiss 1.1930 and drop 1.1740
  • #116,766
  • Oct 21, 2020 8:07am Oct 21, 2020 8:07am
EUR/USD bulls should be worried. This upwards move is simply due to USD being dumped. Most XXX/USD pairs have gained over 1% for the day, but EUR/USD is "only" green by ~0.5%. The market's perception and belief of the EUR is still cautious, so I think I would still prefer selling highs rather than trying to hop onto the bull train. I doubt the strength of the Euro.

On the flipside, we can also argue that de Guinos will be speaking in about an hour's time, so perhaps the market is just staying on the sidelines first to be cautious. The EUR/USD can also gain sharply to catch up thereafter London closes.

I am more inclined to go with the first scenario, but am open to debate. This is my fundamental analysis of the Euro and EUR/USD for today. Hope to learn from everyone in this amazing thread, thank you.
I will tear the world apart for you.
  • #116,767
  • Oct 21, 2020 8:20am Oct 21, 2020 8:20am
Quoting Ata-Turkoglu
{quote} I like your 1.1881.. Stay Green
Monthly Fibo @ 78.6 - 1.1880 was the Resistance i was quoting

Attached Image (click to enlarge)
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  • #116,768
  • Oct 21, 2020 8:24am Oct 21, 2020 8:24am
Quoting Barnell
EUR/USD bulls should be worried. This upwards move is simply due to USD being dumped. Most XXX/USD pairs have gained over 1% for the day, but EUR/USD is "only" green by ~0.5%. The market's perception and belief of the EUR is still cautious, so I think I would still prefer selling highs rather than trying to hop onto the bull train. I doubt the strength of the Euro. On the flipside, we can also argue that de Guinos will be speaking in about an hour's time, so perhaps the market is just staying on the sidelines first to be cautious. The EUR/USD can...
Good point and yes I would agree that this is just a temporary bull move.. Since we had mentioned that there is the potential for a wave c down on weekly the rise towards certain levels (and the sudden end of the potential wave b) must be watched carefully.. My peak level sits around 1.1916 and can extend up to 1.1935 but that should be it..

Anyways.. for now we still keep buying dips carefully.. No rush!

Stay Green
Focus only on what truly matters!
  • #116,769
  • Oct 21, 2020 8:30am Oct 21, 2020 8:30am
Quoting Barnell
EUR/USD bulls should be worried. This upwards move is simply due to USD being dumped. Most XXX/USD pairs have gained over 1% for the day, but EUR/USD is "only" green by ~0.5%. The market's perception and belief of the EUR is still cautious, so I think I would still prefer selling highs rather than trying to hop onto the bull train. I doubt the strength of the Euro. On the flipside, we can also argue that de Guinos will be speaking in about an hour's time, so perhaps the market is just staying on the sidelines first to be cautious. The EUR/USD can...

The bulls already did their part phenomenally, bouncing off this trendline 3 days ago.. now the price is sitting in the resistance zones, maybe a pullback before testing the highs again.. what I am trying to say is the bulls definitely need to be worried due to being in the rejection zones naturally.. but as far as Euro is concerned it has been ripping the USD apart from the start of the pandemic.. Now it all depends on if it can break through the highs or takes a dive to 1.150-1.140 to either break it or continue back up, and as long as 1.150-1.140 holds well enough.. it's considered bullish and the possibility of 1.250 will be very much possible, most importantly as long as the price trades above 1.150.
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Seek, because knowledge is a boundary.. but ignorance is boundless- SJV
  • #116,770
  • Oct 21, 2020 8:31am Oct 21, 2020 8:31am
Quoting Ata-Turkoglu
{quote} Good point and yes I would agree that this is just a temporary bull move.. Since we had mentioned that there is the potential for a wave c down on weekly the rise towards certain levels (and the sudden end of the potential wave b) must be watched carefully.. My peak level sits around 1.1916 and can extend up to 1.1935 but that should be it.. Anyways.. for now we still keep buying dips carefully.. No rush! Stay Green
Thanks for acknowledging my post, makes me feel good given the stature of this thread and your standing in this forums.

I have placed a short order at 1.1920 but I am not sure if we would really get there. My plan for now would probably be waiting for Asian session tomorrow and probably entering short orders in smaller divided lots across 1.1910 to 1.1930. That is, if the structure for wave c down is not broken. I think the range for today is done and we will just be floating in range for the rest of today. Scalping would probably be the ideal thing to do for now.

Just my thoughts.

And oh, Dear Ata-Turkoglu, thanks for hosting this thread. This pair is definitely the most commonly-traded forex pair so it is great to have someone host a lively and organized discussion about it. Good speed to you.
I will tear the world apart for you.
  • #116,771
  • Oct 21, 2020 8:44am Oct 21, 2020 8:44am
If we see the daily close below 1.1861, then most likely we've seen the weekly high.

Lets see
  • #116,772
  • Oct 21, 2020 9:04am Oct 21, 2020 9:04am
Quoting Traderview
If we see the daily close below 1.1861, then most likely we've seen the weekly high. Lets see
Perhaps...or perhaps De Guinos will spark a new rally? I don't know...does anyone has a link to his speech, if any?

If we close below 1.1861, what is your weekly low target? I am looking at 1.173x. Do let me know what is your take, always happy to hear from a fellow trader. Exchanging of information and viewpoints ensure we cover ourselves from as many angles as possible. Cheers.
I will tear the world apart for you.
  • #116,773
  • Oct 21, 2020 9:16am Oct 21, 2020 9:16am
Quoting leashedmode
{quote} The bulls already did their part phenomenally, bouncing off this trendline 3 days ago.. now the price is sitting in the resistance zones, maybe a pullback before testing the highs again.. what I am trying to say is the bulls definitely need to be worried due to being in the rejection zones naturally.. but as far as Euro is concerned it has been ripping the USD apart from the start of the pandemic.. Now it all depends on if it can break through the highs or takes a dive to 1.150-1.140 to either break it or continue back up, and as long as...
Great, Very Nice.

I always insist Traders to post a image of their thoughts so other Traders can also get the benefit and plan their trade accordingly.

Good Great
  • #116,774
  • Oct 21, 2020 9:22am Oct 21, 2020 9:22am
H1 Status Update

I am noticing some macd divergence slowly and gradually building.. 1.1854 is nearest support for now.. New highs are probably on the way.. Will it be today? Time will tell..

Stay Green
Attached Image (click to enlarge)
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Focus only on what truly matters!
  • #116,775
  • Oct 21, 2020 9:31am Oct 21, 2020 9:31am
Pelosi: I think McConnell might not mind doing stimulus after the election.

Dear friends, I have heard of differing views of how a stimulus deal will affect USD. Some believe it will result in a weaker USD, others a stronger USD. Would anyone care to share his/her views on how a possible deal or no deal will impact USD and hence our beloved EUR/USD? To my understanding, no deal should result in a stronger greenback, right? That should pressure EUR/USD southwards.

Cheers and many thanks!

As we speak, it seems that EUR/USD is still pushing for new highs, perhaps I was wrong, the second scenario seems more plausible. However I still hold my view that the weekly high will not exceed 1.1930. I will be looking for my sells at the range of 1.1910 to 1.1930. A SL at 1.1950 to 1.1960 for the above trade plan should be fine.
I will tear the world apart for you.
  • #116,776
  • Oct 21, 2020 9:32am Oct 21, 2020 9:32am
1.1887 is the level i am expecting a high profit booking.
  • #116,777
  • Oct 21, 2020 9:34am Oct 21, 2020 9:34am
Quoting Barnell
{quote} Perhaps...or perhaps De Guinos will spark a new rally? I don't know...does anyone has a link to his speech, if any? If we close below 1.1861, what is your weekly low target? I am looking at 1.173x. Do let me know what is your take, always happy to hear from a fellow trader. Exchanging of information and viewpoints ensure we cover ourselves from as many angles as possible. Cheers.
1.1788.
  • #116,778
  • Oct 21, 2020 9:51am Oct 21, 2020 9:51am
Quoting Traderview
{quote} 1.1788.
Cool, I'm aiming for another 50 pips down but let's see. Selling EUR/USD gives (small) positive swap, so we have some holding capacity. Thanks for your sharing.
I will tear the world apart for you.
  • #116,779
  • Oct 21, 2020 10:19am Oct 21, 2020 10:19am
Quoting Barnell
{quote} Cool, I'm aiming for another 50 pips down but let's see. Selling EUR/USD gives (small) positive swap, so we have some holding capacity. Thanks for your sharing.
For bears DXY should cross on 4hrs above 92.78 with the target of 93.40. On EU 4hrs close below 1.1845 and continue down to 1.1824. Nothing is the certain right now until we see these prices breached.

Lets see.
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  • #116,780
  • Oct 21, 2020 10:30am Oct 21, 2020 10:30am
Who else is ready to go 1.19800 ? or maybe 1.1200 to be precise ?

Check the 4HR and then look to your left.

Remember i was saying 1.1850 was a target ? We just arrived, took a while lol!

Fingers crossed.
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