EURUSD only

Didn't think it would go up straight away during Asia! This has been a super profitable end to the week for me!

I'm still hoping for 1.01 but good to take a bunch of profit even here.

well done and cya in the morning

Critical region, if it breaks, it has a possibility of reaching 1.01200

Closing another half of my long here, still holding some from 0.9880.

open a short here, scalping only

Wow, I'm late to the party I usually post in the other EURUSD thread but discussions here tend to be far more level-headed. I'm still in my first year of trading, so the short-term, and somewhat stagnant price action during and after ECB/Powell got me really confused, especially with all the Eurozone energy crisis talk. I had long-term buy positions from 0.999xx, but closed most of them out of fear the day before ECB. I'm ending this week in profit, but definitely missed out on more earnings because of the longs I closed; this will be an important lesson for me.

As of now, the long-term major trend is still highly bearish, especially with Powell strongly reaffirming the Fed's intentions to hold back the U.S. recession. Short-term, I believe bulls can still see more upward movement until the key 1.001xx or 1.006xx zones. With FOMC a couple weeks away, I think it's reasonable to begin positioning (or at least considering) short orders for swing traders/long-term traders.


With Ichimoku + Stochastic RSI on the D1 chart, DXY still has potential to go down in the coming weeks before FOMC. This is evidenced by the thinning green Kumo (green cloud on ichimoku) that has "dips" before shooting upwards near FOMC. Stochastic RSI also indicates that this current downward movement may not be fully realized.

For EURUSD on the D1 chart, price has yet to reach the Kijun-sen (blue slow MA) which lies at a somewhat strong historical support/resistance zone at 1.01xxx. Stochastic RSI also indicates that this bullish rally may not be over and there might be up more upside before FOMC. The thick red Kumo (red cloud), indicates that the overall market is still bearish in the long-term, and since the cloud can act as support/resistance, it's reasonable to expect that FOMC might be the catalyst for a bearish continuation of the major trend, further confirmed by Powell's speech yesterday.

All in all, a great learning experience for me. Congrats to the bulls who held on and best of luck to the bears who are thinking ahead

Here is the last barrier... 100 retracement, apparently the market is already showing tired.

Dollar Index is suspected of H&S. @1H

EURUSD Retail cumulative delta volume from 3 mt5 brokers showed a lot of buying overall, which price ended following.
Pink line is price (ma1), black is volume (clients) graph from last 2 weeks.

Just checking before any entry! Daily to compete close 0052, already over it though while target minimum breaks 0089 and next breaks next limit up for down 0122 and if all ok then daily high can be 0202 as target.
Again watching lower limits 0029 as good target next and last 9999. breaks any or both can be bull over as top failure specially if 9999.
So first watching for 0029. Also as target presently.take care

As long as it's closing above the lines I'll hold.



* Edited } These graphics are M5, sorry forgetting marked as M30

And will the USD index have a shooting star by the end of the week?. That could be decisive for the next few weeks.

Guys am new in forex, I have been doing try and error for about 5 months now, with no profits. I wish to get practical advice from a member here on how to improve my physiology. I close trades with less profit and sometimes miss good opportunities because of fear.

Meanwhile, on H4...

So far so good dear bulls.... very well done... and I think bull story will continue AND here are my thoughts:

1. Now we are inside an ascending large channel that is supported by a steeper sub-channel. Very good for bulls! BUT also good for bears, because price now climbed above median line. Which means a swing down might be coming soon. But, no rush... let's go step by step...
2. Currently some BULLISH 3 DRIVES PATTERN could be forming, a harmonic pattern which goes like: UP1-RETRACE-UP2-RETRACE-UP3-FULLY DOWN.... Now on our picture bulls might be at step: UP2... so we could expect another short-term pullback before it goes up again... If I am wrong, it could also just continue higher.. Therefore it is safer to check lower timeframes for detecting early signals and confirmations...
3. Whenever I am bullish, I always try to buy below the balance (median) line of the channel that I picked as main driver. Here, I could look for fresh buy opportunities once candles go a little below 1.0035.
4. Overall, I have 2 scenarios: Either a break above 1.0099 and then to 1.0168, or a bounce back to 1.0035 or a little lower until parity... Time will tell...

Happy trading FRIDAY to all (It's fry-day, don't get fried )

Hi Traders,

Asian session accelerated my trade and now i moved SL to 1.0051 and im waiting to they hit 1.0100 where i'll decide close all or not ( depend how strong move will be ).

Have a nice day for all.

Meanwhile, on H1...

Nearest support sits at 1.0056 and bulls have extra support around 0.9981 area in case we get a deeper pullback.

Not much to say here, since I explained all based on H4...

Trade accordingly... Good luck

Bulls continuation depends on DXY breaking below 20sma on daily. Any price below 1.0050 is a good place to go long.

.. after the huge bears fake move, price reach again my zone is going well north. Seems bears are finished.

Hey Sat1970, what I meant by "tap" was like hitting a nail with a hammer. If you go back through EU, you will find many points, usually at weekly highs/lows, where price will tap the old point to the exact pip before reversing. I hope this helps

Good day. Right now EU is bouncing from the trendline (red arrow) and if, it gives up then the level of Daily R1 could be next.

EU did this upside from ECB's decision to hike 0.75% the IR, but also the bears went off and EU squeezed at Asia.

I am watching close the 1.0089 resistance for a posible bounce up to 1.0100, but we may see parity again until the end of the day, or the next as weekend is very near.

Stick to the plan: 1,0100 at first.