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  • #151,581
  • Jul 13, 2022 5:35am Jul 13, 2022 5:35am
Quoting nic9man
{quote} I liked your joke, maybe my ironie was not well conveyed. Just meant your scenario ist not that unrealistic, meaning we will end up bartering instead of paying fiat money, so we could switch to barter right away..
Most of us understood you very well. Some are a little slow.
  • #151,582
  • Jul 13, 2022 5:36am Jul 13, 2022 5:36am
Meanwhile, on H1...

  1. So far, bulls are still trying to get out of traffic jam... can they succeed to achieve a candle close above 1.0049?
  2. If yes: we go higher towards 1.0085..
  3. If no: 1.0022 becomes new support, and we must check with the next potential retest, if it holds or not!

I hope it helps

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1.png Size: 17 KB
Focus only on what truly matters!
  • #151,583
  • Jul 13, 2022 5:42am Jul 13, 2022 5:42am
Quoting Ata-Turkoglu
Meanwhile, on H1... So far, bulls are still trying to get out of traffic jam... can they succeed to achieve a candle close above 1.0049? If yes: we go higher towards 1.0085.. If no: 1.0022 becomes new support, and we must check with the next potential retest, if it holds or not! I hope it helps {image}
Looking for profitable short term trades ...|
  • #151,584
  • Edited 6:05am Jul 13, 2022 5:49am | Edited 6:05am
Many of these bears singing the parity song don't know what is coming for them. But it's okay. My system gave me a buy signal yesterday and it will hit nothing less than 1.0141. I am personally expecting 1.03 and 1.04 to happen. It will be quick and relentless.

Hopefully (Only Ata usually understands this caveat). More like absolving myself beforehand if it goes otherwise. Lol...
  • #151,585
  • Jul 13, 2022 5:51am Jul 13, 2022 5:51am
Quoting Js3mwtRc
Most of its bullish potential lost from that drop to 1.0007, but no forecast is that accurate and EU still has chances to climb back above 1.0024 again and test 1.0053. From there we should wait and see again.
Done it! It reached 1.0068 and now it is backing of. That 1.0025 holded well, now it may hold the price until that news, or a break of 1.0073 will lead the price at the next level of interest 1.0094.
Looking for profitable short term trades ...|
  • #151,586
  • Jul 13, 2022 5:59am Jul 13, 2022 5:59am
Quoting Mitiblotch
Many of these bears singing thr party song don't know what is coming for them. But it's okay. My system gave me a buy signal yesterday and it will hit nothing less than 1.0141. I am personally expecting 1.03 and 1.04 to happen. It will be quick and relentless. Hopefully (Only Ata usually understands this caveat). More like absolving myself beforehand if it goes otherwise. Lol...
The key to this lies in today's CPI ⁦⁩
Half of the time, the market is building resistance and support levels, and
  • #151,587
  • Jul 13, 2022 6:02am Jul 13, 2022 6:02am
CPI today push DXY up!
  • #151,588
  • Jul 13, 2022 6:06am Jul 13, 2022 6:06am
Looks lie the rest of the world will be fine managing their inflation problems. As I said before euro is dirt cheap (even more if it hits parity again, it is all fear mongering). The US on the other hand looks like "all will not be greener on the other side"...... CPI is already baked in and I think the DXY might enter a correction phase soon down to 106.850 (I have been wrong many times lol)
  • #151,589
  • Jul 13, 2022 6:07am Jul 13, 2022 6:07am
Quoting Mitiblotch
Many of these bears singing thr party song don't know what is coming for them. But it's okay. My system gave me a buy signal yesterday and it will hit nothing less than 1.0141. I am personally expecting 1.03 and 1.04 to happen. It will be quick and relentless. Hopefully (Only Ata usually understands this caveat). More like absolving myself beforehand if it goes otherwise. Lol...
No worries brother, I hear you

And now, the strong close above my GREEN line triggered me to do a cleanup on my H1 chart to simplify the overall situation.

1.0037 becomes my new support area... It looks like bulls will be good for some time...
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1.png Size: 18 KB
Focus only on what truly matters!
  • #151,590
  • Jul 13, 2022 6:07am Jul 13, 2022 6:07am
Quoting Erkat
{quote} The key to this lies in today's CPI ⁦⁩
To me the CPI reading won't matter. They just want to use it to keep the suspense running. Price direction is already decided. They wanted parity. They got it. Now let's go harvest those sellers SL waiting up there.
  • #151,591
  • Jul 13, 2022 6:10am Jul 13, 2022 6:10am
Quoting Mitiblotch
{quote} To me the CPI reading won't matter. They just want to use it to keep the suspense running. Price direction is already decided. They wanted parity. They got it. Now let's go harvest those sellers SL waiting up there.
Why NOT to go down once more below parity? To invite everyone to the DOWN side first.
Because if it CLOSES below 1.00000, every retail trader jumps to the SHORT side. And it will be MUCH MORE STOP LOSSES to collect than as of now.
  • #151,592
  • Jul 13, 2022 6:13am Jul 13, 2022 6:13am
Quoting andvk74
{quote} Why NOT to go down once more below parity? To invite everyone to the DOWN side first.
Oh it can happen too. See the spike in the morning to 1.0007. They can still spike it below and rise very very fast. In any case I am not selling. If it goes down huge I will congratulate the sellers. But I have some pending longs also waiting below 1.0000 just in case it goes there.
  • #151,593
  • Jul 13, 2022 6:21am Jul 13, 2022 6:21am
I would like to see it cross 1.0065 then next stop 1.01
  • #151,594
  • Jul 13, 2022 6:31am Jul 13, 2022 6:31am
After PCE which was declared weak some time ago, now any weakness in CPI can be the best reason for dollar weakening. (albeit temporary)
Half of the time, the market is building resistance and support levels, and
  • #151,595
  • Jul 13, 2022 6:42am Jul 13, 2022 6:42am
Quoting Erkat
After PCE which was declared weak some time ago, now any weakness in CPI can be the best reason for dollar weakening. (albeit temporary)

White House sent out memos yesterday saying reason for high inflation due high energy prices in an attempt to calm the markets for today. Isn't it the same reason they were saying Euro went down? I see Europe working out its supply issues, but the US never coped well with high inflation and strong dollar....
  • #151,596
  • Jul 13, 2022 6:48am Jul 13, 2022 6:48am
Quoting Mitiblotch
Many of these bears singing the parity song don't know what is coming for them. But it's okay. My system gave me a buy signal yesterday and it will hit nothing less than 1.0141. I am personally expecting 1.03 and 1.04 to happen. It will be quick and relentless. Hopefully (Only Ata usually understands this caveat). More like absolving myself beforehand if it goes otherwise. Lol...
You are ignoring the bearish doji candle that formed yesterday. In my experience, during a trend, if a doji forms after an extended move in a particular direction and the doji is in accordance to the direction of the trend or the extended move(bullish or bearish) the next candle that follows is usually brutal or extended in the same direction of the doji. In this case bearish.
Risk comes from not knowing what to do
  • #151,597
  • Jul 13, 2022 6:53am Jul 13, 2022 6:53am
Quoting Js3mwtRc
Volatility is 78 pips and can rise further, meaning that bulls can reach 1.0085 and bears 0.9975, if the range remains the same as it is now - 1.0053/1.0007. If, you have a predetermined direction then these pips are for you and maybe plus.
Now that we have a new high the bears have a new more up price to target - 0.9990 and bulls the same (1.0085). Bulls have the advantage until now, well done!
Looking for profitable short term trades ...|
  • #151,598
  • Jul 13, 2022 6:54am Jul 13, 2022 6:54am
Quoting Mitiblotch
Many of these bears singing the parity song don't know what is coming for them. But it's okay. My system gave me a buy signal yesterday and it will hit nothing less than 1.0141. I am personally expecting 1.03 and 1.04 to happen. It will be quick and relentless. Hopefully (Only Ata usually understands this caveat). More like absolving myself beforehand if it goes otherwise. Lol...
@ Mitiblotch - I couldn't agree more with you - Eur/Usd is oversold and in a BEAR MARKET. With that in mind it is due for a face-ripping relief rally and you 1.0141 is reasonable and expected.

But longer-term (that's like 3-5 days for day traders) I expect parity to be breached and my year end goal for EUR/USD = 0.90
...because you never know - until you do!
  • #151,599
  • Jul 13, 2022 7:01am Jul 13, 2022 7:01am
Quoting GreenJ
{quote} White House sent out memos yesterday saying reason for high inflation due high energy prices in an attempt to calm the markets for today. Isn't it the same reason they were saying Euro went down? I see Europe working out its supply issues, but the US never coped well with high inflation and strong dollar....
@Green what supply issues do you see Europe working out? Not energy and that is the #1 cause of concern right now. If Europe doesn't get their stockpiles to at least 90% before September prepare for a deep recession in Europe as they begin to ration energy. Between Russia cutting the cord and the EU instituting ESG values Europe has basically committed themselves to the same fate as Ghana and Shi Lanka.

Frankly I think this marks the beginning of the end of the EU unless they get more energy sources. My long term outlook for Eur/Usd on December 31 2022 0.9000
...because you never know - until you do!
  • #151,600
  • Jul 13, 2022 7:01am Jul 13, 2022 7:01am
Based on the fresh H1 candle: 1.0046 is my new support!
Focus only on what truly matters!
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