EURUSD

Didn’t trade the last two days.
there was a trade into that bull trap but it would have eventually been stopped out at BE anyway. That’s life sometimes.

anyway, I’d be looking for an entry short on Monday until price finds a bottom at least. Will need to check for next week’s red news to see when that might be.

Weekly chart yet in this uptrend (ranging) and its more probably that it will break down to 1.1600.



Daily chart, the range of 1.1975-1.1752 will prevail. Watch its August 2 this new week after the market open which mean, less liquidity, so small ranges ahead.



Have a great weekend!

Still shorts are increasing; and longs are decreasing. Good luck with next week!!

Interesting how many people here is smarter then hedge funds...

its summer why should anyone wear long pants , shorts is the way to go

we bet, sometimes bets are right and more times they are wrong , but still we bet

You mean the hedge funds who had the most longs at 1.22? And then started shorting at 1760? If you knew any of them personally...you would know what kind of morons work there...

And don't forget...hedge funds make money even if their clients lose money...they make money on insanely high fees. Their job is to get clients and their money, then they make profit, no matter what.

Slowly SMART MONEY continue to REDUCE positions on EURO FX

Stick around this thread. You will see a lot of "experts" here that are "smarter" then banks and financial institutions. Those are the "day traders" that apparently make a lot of "money" day to day. Trust me, stay in this thread you will enjoy it. On the other hand, a lot of people on FF have no clue about fundamentals trading/investing and have no clue how it works. They are oblivious to that. That is why they "day trade", if they had proper education in trading and experience, they would understand that bank and institutions trade/invest, they don't day trade for pennies. Retail traders also mistake themselves with "market makers". They don't understand the fact market makers are working for banks and have different approach to trading. It is something that retail trader can't ever trade like them. They have better software systems and they have access to much better informations. But some people never learn, and some people are immune to a good advice. But enjoy it here and trade safe.

Here's my take on the EURUSD. The daily time fame shows a bearish technical structure. But presently price action is sideways after a bullish retracement into, and retesting of, the broken down 1.18600/1.19320 previous horizontal support area (magenta). Friday’s price action produced an ambivalent candlestick with a bearish tinge in the area. It will take a significant bearish breakdown of the area before we can have confidence in a southward continuation, realizing that the next significant horizontal support is around the 1.17160 area (green). Any bearish misstep may incentivize bulls to engineer liquidity grab northwards of the 1.18600/1.19320 previous horizontal support area (magenta) before a bearish turnaround.

I may be wrong. Trade safe and prosper. So please trade based on your own trading rules and analysis.

KP

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sorry team long but i really do think this is a short.

my guess right now is i should be looking for entries around 8870 or 8930 areas.

Based on Bollinger band H4, now the price move on middle band seems the price in consolidation phase on this level, if price breaks below the line, possible will drops to continue, but if this level bounce to rise, maybe the price will bulls.

Its winter in the southern hemisphere.

1915 should guide today

Long taken with 1850 SL, [ Top Left Comments Lot Size suggested at 5% of balance ]

EU bullish in this range, 1840 is its key support, below it its bearish.

30 min. 50-10-200 sma on chart.

1915 does look like a logical exit for this week , lets see

Weekly pivot R1 of 1.1930 looks like a good target for the week.

EU is stronghly buulish for 1.19 and above