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EURUSD only

  • #126,181
  • Feb 6, 2021 9:53am Feb 6, 2021 9:53am
For those who understand German (probably a lot here) or know how to use a good translator, here is an interesting article about the ECB and the USD.

--> short term: difficult to foresee as some important USD factors play against each others (inflation vs. yield of bonds)
--> mid/long term: weaker USD caused by the FED politics

https://app.handelsblatt.com/finanze...AtHdW74HzA-ap3
  • #126,182
  • Feb 6, 2021 10:49am Feb 6, 2021 10:49am
H1 Status Update

Bulls have actually arrived at median line of Pitchfork's channel.. New week may start with difficulties to climb above 1.20535 area (An upside gap opening can prevent this and can turn 1.2050 area into support)

Overall it is best to wait until London opening before doing anything right after market opening.. Instinct says: bears might kick in first but you can never be sure especially when volume is expected to be low inside those early Monday morning market opening hours.. 1.2037 area is roughly aggressive buy level.. My two cents I hope it helps..
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Focus only on what truly matters!
  • #126,183
  • Feb 6, 2021 2:31pm Feb 6, 2021 2:31pm
Market profile is back & 99 lines is back.
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  • #126,184
  • Feb 6, 2021 11:45pm Feb 6, 2021 11:45pm
Quoting shahab8b
{quote} You got a margin call? That doesn't sound good. It is likely that the ABC correction is completed. What is your most recent wave count? {image} {image}
Perfect bro.
  • #126,185
  • Feb 7, 2021 2:10am Feb 7, 2021 2:10am
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The middle line should at least acted twice as support or resistance when drawing a pitchfork someone taught me.
Trends have a higher probability of continuing than not.
  • #126,186
  • Feb 7, 2021 3:19am Feb 7, 2021 3:19am
Quoting eurusd-thijs
{image} The middle line should at least acted twice as support or resistance when drawing a pitchfork someone taught me.
Yes.. and mine does exactly that.. We are at 2nd times of resistance with current situation.. I drew the earliest version of pitchfork that I could get from current candle formation..
Focus only on what truly matters!
  • #126,187
  • Feb 7, 2021 4:54am Feb 7, 2021 4:54am
I am addicted to that forex "thing".
When i make an analysis and leave the screen as it was and take the dog for a walk............
When i come back i have a look if price has moved.
And it is sunday morning
Trends have a higher probability of continuing than not.
  • #126,188
  • Feb 7, 2021 6:38am Feb 7, 2021 6:38am
Quoting eurusd-thijs
I am addicted to that forex "thing". When i make an analysis and leave the screen as it was and take the dog for a walk............ When i come back i have a look if price has moved. And it is sunday morning
I Think we are all forex addicts! but its only fun as long as you can make money lol
Drawdown is more important than Account Size !
  • #126,189
  • Feb 7, 2021 9:50am Feb 7, 2021 9:50am
Quoting Wavegarrick
{quote} Hi Guys, It seems the forex gods will have their final say for this week. It is possible that we will have a weekly close above 1.20000. I am also at the beginning of a cyclic uptrend according to my system. It is possible that I will close some of my sell trades, but will monitor around the 1.20000 handle. Nothing much more to say but trade pullbacks in the cyclic direction. Have a great weekend. Cheers. {image}
I don't post a lot of forward analysis, but here goes. My last weekly cyclic upswing from 17/01/2021 to 24/01/2021 (Yellow highlight) which was 136 pips and some.
I am at the beginning of a possible upswing or correction. If I simulate the exact cyclic upswing from 17/01 I get to my current conclusion, A drop from my current level at 1.20597 ish to 1.19755 ish and then a rise to 1.20895 ish to complete my cyclic correction or retrace ( current yellow highlight). The main thing is that all points to 1.20895 where I could expect a reversal to the downside and thanks to my dear friend Shahab I will also look at Fib retraces in this area 61.8% or so to complete my cyclic correction. The current descending trend line also lines up at 1.20895 ish.
Have a great week Guys.
Cheers.
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Trade to trade another day
  • #126,190
  • Feb 7, 2021 10:21am Feb 7, 2021 10:21am
Quoting Wavegarrick
{quote} I don't post a lot of forward analysis, but here goes. My last weekly cyclic upswing from 17/01/2021 to 24/01/2021 (Yellow highlight) which was 136 pips and some. I am at the beginning of a possible upswing or correction. If I simulate the exact cyclic upswing from 17/01 I get to my current conclusion, A drop from my current level at 1.20597 ish to 1.19755 ish and then a rise to 1.20895 ish to complete my cyclic correction or retrace ( current yellow highlight). The main thing is that all points to 1.20895 where I could expect a reversal...
1.2092
  • #126,191
  • Feb 7, 2021 11:00am Feb 7, 2021 11:00am
Tears In The Profile
  • #126,192
  • Feb 7, 2021 11:38am Feb 7, 2021 11:38am
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  • #126,193
  • Feb 7, 2021 11:56am Feb 7, 2021 11:56am
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  • #126,194
  • Feb 7, 2021 2:12pm Feb 7, 2021 2:12pm
Quoting Ashwani
{image}
I find this level on my daily-fibos, 50% on 1.21505. Could be a goal for next week...
  • #126,195
  • Feb 7, 2021 3:03pm Feb 7, 2021 3:03pm
Important confluence area on DXY at 91, its on a TL, demand and 0.382 retrace of the most recent swing low/high. Expect some bounce and some bearish movement on EUR. Lets watch that breakout resistance area around 1.2050-60.
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  • #126,196
  • Feb 7, 2021 3:31pm Feb 7, 2021 3:31pm
Short target 1.19 for the week ahead. EUR/USD
Look out for an overdue bullish move in bonds this week due to liquidity problems
Bearish stocks as volatility rears up (below)
Very intresting week ahead - hold tight.
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It's a big game.
  • #126,197
  • Feb 7, 2021 3:43pm Feb 7, 2021 3:43pm
Quoting bigiivan
{quote} While someone looking for double bottom, other see a H&S on a daily.
The long term trend IMHO is up, but the medium term trend is down with LH's and LL's. I expect a shoulder test to the H&S where I will start shorting, around 1.2070 area stops above 1.2170. Targeting 1.1888 area to begin squaring up and out of all in your area around 1.1777.
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Ecclesiastes 1:9
  • #126,198
  • Feb 7, 2021 7:59pm Feb 7, 2021 7:59pm
Buy EU 1.203, TP 1.207
Think Big, Start small !
  • #126,199
  • Feb 7, 2021 10:44pm Feb 7, 2021 10:44pm
EUR/USD Weekly Forecast
https://www.barchart.com/story/futur...eekly-forecast
  • #126,200
  • Feb 7, 2021 11:42pm Feb 7, 2021 11:42pm
Have taken a buy order on EUR/USD based on the following facts:
a) False break of 1.2004 support area on the daily chart showing a two0bar reversal to the upside
b) on my 4-Hour chart, price is above my EMA and p-sar dots shows a buy entry.

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