Just want to share my UPDATED Daily chart.
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Disliked{quote} My starting point is 1.16. I'm expecting this to unfold as an abc correction. {image}Ignored
DislikedApparently the market is worried that Powell would give hints on Thursday that QE could end early if inflation dynamics are sufficient. However, I reckon the opposite will happen. As Biden will issue plenty of new debt the FED will have to buy it, so Powell will rather reference to the NFP drop and stress the symmetric inflation target sending the USD back down.Ignored
Disliked{quote} It can but I believe not without stepping back to gain some momentum.. So I am eyeballing 1.2150 area for support so I can buy again.. Stay GreenIgnored
DislikedHi, I'm semi professional trader and If you think the market acts weird at the moment I can tell you that is definetely true. Correction has to come on Eur/USD. So if you blow your account today in the evening, that's normal. I traded myself in, sitting on a 0,2 pips win currently on Eur/USD (highest short 1 pip below current high )- GBP/USD same picture, currently 0,8 pips loss, highest short 2 pip below high currently. These sessions are very rare, once every 6 month. If you can afford it, get out of the market. It can take up to 20-30 pips more...Ignored
Disliked{quote} Thank you for the info. Do you know when this market weird behavior will end? Thanks.Ignored
DislikedIt was all a trap for the crowded USD short investors. We had the rising wedge and MM spread the story of a possible early end of QE in order to squeeze USD shorts and collect them all for themelves. I bought some more EURUSD during the correction and will hold till we see a final big spike with new highs. Think we will most likely enter the 1.30s again this year, but don‘t have a good target for the current move yet, however, at least 1.2450.Ignored