EURUSD only

Just a heads up.
It smells like a bear trap.
Just me 2c.

Meanwhile, on H1...

For my followers: The rinse & repeat story has never stopped.. One could basically sell all the levels mentioned below..

I marked 1.1821 as nearest classic resistance.. 1.1811 would be aggressive sell level.. Cheers

Bear might want 1.176 before fomc

I agree... Based on DAILY I have 1.1763 to be precise... Somewhere at those lows I am aiming to close all my short orders.. Best wishes

The support was actually 1.17879 (where we were just a few minutes back). Considering the unhesitant vigor with which bears had arrived at the support, it is no wonder it was a piece of cake for them to crush it instantly.

NFP has kicked off early. Wondering where we will be trading during NFP.... Fun day!

We got you.. You meant FOMC..

You are right, I see more down from here...that was just too easy.

Based on H1 1.1814 area should resist heavy..

It would be nice if we post a supporting graph for buy or sell with logic. would be nice to understand






Thanks & Regards

FOMC

back above 1.8. now the stops above 1832 should be cleared for continuation south.
Meanwhile resistances there at 1811 and 1820 and may be 1832.

This hourly 4 hour close is crucial
es spring back up a correlation to watch just my 2 cents

It was shared on this post: https://www.forexfactory.com/thread/...7#post13612447

Let's not get distracted.. FOMC shakeout coming in hot soon...

Opinion on the effect of FOMC meeting on Eur/Usd? Can't see it going up rn.

This is what they call "lul before the storm", volumes gone down, PA hardly moving.

Hold on, it's gonna hit in 5 minutes.

Window envelope (red line) was hit today

iEnvelopes(symbol,10080,14,MODE_SMA,14,PRICE_CLOSE,2.0,MODE_LOWER,0)

There are many reasons why bulls will shoot this higher first! Let's see..

This bit seems particularly important:

"In addition, participants reiterated their intention to provide notice well in advance of an announcement to reduce the pace of purchases. With regard to the implementation of monetary policy, participants had observed downward pressure on money market rates over the intermeeting period and viewed the possibility of further downward pressure on these rates in the near term as likely. Consequently, they noted that an adjustment to the Federal Reserve’s administered rates would help keep the federal funds rate well within the target range and support smooth market functioning of short-term funding markets. Participants agreed that this technical adjustment had no bearing on the appropriate path for the federal funds rate or the stance of monetary policy."

and this bit:

"Participants discussed the Federal Reserve’s asset purchases and progress toward the Committee’s goals since last December when the Committee adopted its guidance for asset purchases. The Committee’s standard of “substantial further progress” was generally seen as not having yet been met, though participants expected progress to continue. Various participants mentioned that they expected the conditions for beginning to reduce the pace of asset purchases to be met somewhat earlier than they had anticipated at previous meetings in light of incoming data. Some participants saw the incoming data as providing a less clear signal about the underlying economic momentum and judged that the Committee would have information in coming months to make a better assessment of the path of the labor market and inflation. As a result, several of these participants emphasized that the Committee should be patient in assessing progress toward its goals and in announcing changes to its plans for asset purchases."

1840 area now last stop 1856. Will see the reaction there in next half hour