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EURUSD only

  • #155,041
  • Aug 23, 2022 8:46am Aug 23, 2022 8:46am
RIP shorts

1.01 - 1.015 logic target from here.

Edit: This particular rally to 1.003 - 1.004 before stopping.
  • #155,043
  • Aug 23, 2022 8:49am Aug 23, 2022 8:49am
I like this EU only thread! Im an EU bear longterm
  • #155,044
  • Aug 23, 2022 8:51am Aug 23, 2022 8:51am
Literally in less than an hour it hit it's ADR, not sure just how high it will go! But for sure a short squeeze, after the long squeeze of the last trading night.
  • #155,045
  • Aug 23, 2022 8:56am Aug 23, 2022 8:56am
Expect turn at 1.0050 approximately.
Another day, another dollar.
  • #155,046
  • Aug 23, 2022 8:58am Aug 23, 2022 8:58am
Nope the US is not and never was shielded from inflation or economic crisis. Unless all central banks sit their ass@s down and solve this global problem everyone will suffer. Lets hope that something good comes out of Jackson Hole cause as I mentioned before the market has to rebalance and normalize. Better for the dollar, better for the euro and the rest.
  • #155,047
  • Aug 23, 2022 9:00am Aug 23, 2022 9:00am
Quoting irontrade58
{quote} I think the price will rise around 1.01xx within this week then letting us know which direction it will move. The uptrend confirmation in daily timeframe in my system in 8 August has not yet rejected, so that in my view it is hard for this pair to go down lower,; it will need more consolidation or momentum to do it.
It's rising up a little bit earlier than my expectation, I think tomorrow we will see the price above parity level firmly.
  • #155,048
  • Aug 23, 2022 9:02am Aug 23, 2022 9:02am
Quoting nic9man
Expect turn at 1.0050 approximately.
Probably loads of stops above parity that just got squeezed, thus the quick rose above parity
  • #155,049
  • Aug 23, 2022 9:02am Aug 23, 2022 9:02am
Now Euro is talking and now you can eat popcorn and relax for at least the whole US session......
  • #155,050
  • Aug 23, 2022 9:09am Aug 23, 2022 9:09am
Quoting fxcontest
{quote} Edited to : 09680 till 09690 Sell Grid : 1.0038 till 1.0045
Added Sell 1.0050
Holy Betting Grail strategy
  • #155,051
  • Aug 23, 2022 9:11am Aug 23, 2022 9:11am
Meawhile, on H1...

We have a mean reversion BUT not that crazy... just moderate mean reversion I would say..

1.0025 is key resistance for now and bulls have to cross above it for continuation.

Any delay or weakness and we go back to previous lows: 0.9985 area.. (or maybe even 0.9954 area)
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1.png Size: 12 KB
Focus only on what truly matters!
  • #155,052
  • Aug 23, 2022 9:16am Aug 23, 2022 9:16am
Quick update.

This morning, I was looking at possible bounce to $1 on EURUSD.
It happened so quickly after S&P ISM data for US.

As I said earlier, I don't trade based on news. I use volatility from news releases to exit my positions.
Closed 3 longs below 0.999 for 71 pips gain.

If we look at the composite PMI, economy on both sides of the north Atlantic are in contraction mode (<50).
Not recession. Euro area fares lightly better than US.
Composite index PMI for US at 45, Euro area at 49.2.

I'll wait after tomorrow's German bund auction to get a better medium term outlook on EUR vs USD. Trade safe.

Cheers,
Cat
Attached Image (click to enlarge)
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  • #155,054
  • Aug 23, 2022 9:18am Aug 23, 2022 9:18am
Quoting Ata-Turkoglu
Meawhile, on H1... We have a mean reversion BUT not that crazy... just moderate mean reversion I would say.. 1.0025 is key resistance for now and bulls have to cross above it for continuation. Any delay or weakness and we go back to previous lows: 0.9985 area.. (or maybe even 0.9954 area) {image}
.9864 Will be the next big fib extension level for big reversal as well. I have closed some of my LONG positions here, getting ready to buy more dips
  • #155,055
  • Aug 23, 2022 9:22am Aug 23, 2022 9:22am
Quoting Ata-Turkoglu
Meawhile, on H1... We have a mean reversion BUT not that crazy... just moderate mean reversion I would say.. 1.0025 is key resistance for now and bulls have to cross above it for continuation. Any delay or weakness and we go back to previous lows: 0.9985 area.. (or maybe even 0.9954 area) {image}
Brother, you have GOD gifted skills. Thank you to give us some alert. And you are right until the Asia session, some delays, slowness and some consolidation might happen then from mid of Asia session till the mid of London session, Bulls will have a grand dinner buffet accordingly.
  • #155,056
  • Aug 23, 2022 9:28am Aug 23, 2022 9:28am
And one more thing, I remember, E/U got down under parity on July 14th and in today's session (August 23rd), it went down to 0.99. So my dear, it is not easy for E/U to go down in a day or two as previous downturned from .9952 to 0.9900 took E/U one month and eight days, just an idea.....
  • #155,057
  • Aug 23, 2022 9:37am Aug 23, 2022 9:37am
1.0500 TP
The only prayer you need is Thankyou
  • #155,058
  • Aug 23, 2022 9:37am Aug 23, 2022 9:37am
Quoting Erkat
{quote} Every rise is still an opportunity to sell
In my opinion, this issue has now reversed and from now on, every dip is a buying opportunity
Half of the time, the market is building resistance and support levels, and
  • #155,059
  • Aug 23, 2022 9:53am Aug 23, 2022 9:53am
I'm watching a return to parity. If they fail to gain a foothold above parity, they will have to think hard about buying.
Attached Image (click to enlarge)
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IgorFX
  • #155,060
  • Aug 23, 2022 10:27am Aug 23, 2022 10:27am
US flash where worst from what it planned, but EU was an early bird in the move up, so maybe and something else is happening and not only the news. You tell me!

The move up is strong, so here how it should go. If, EU doesn't manage to beat this weeks high at 1.0047 then it goes to the toilet again - below 0.9900.
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