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- #164,765
- Jan 6, 2023 1:39am Jan 6, 2023 1:39am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
{quote} This what I see for now without any details and something else, watching the weekly trendline at around 1.0485 that could bounce hard up and mark a bottom to this correction. {image}
The same chart (see quote) yet, the bears have the upper hand, the volatility is much greater - 117 pips, NFP should be a breaker and I also watch these releases -> EU CPI's & ISM services.
The price may bounce around the daily pivot and then drop again but I find 1.0574 a better level for the bears but that is just speculation and its very early yet like in a different scenario EU can drop to 1.0452 first for a test
We'll see.Have a great day ahead!
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- #164,766
- Jan 6, 2023 2:00am Jan 6, 2023 2:00am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
{image}
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- #164,767
- Jan 6, 2023 2:25am Jan 6, 2023 2:25am
- Joined Jun 2018 | Status: Trader | 3,083 Posts
{quote} 1.0483 is the monthly first support level - S1. Watching close!
- #164,768
- Jan 6, 2023 2:31am Jan 6, 2023 2:31am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
{quote} {image}
Also weekly 50 ma at 1.0477!
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- #164,769
- Edited 2:47am Jan 6, 2023 2:33am | Edited 2:47am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #164,770
- Jan 6, 2023 2:45am Jan 6, 2023 2:45am
- | Commercial User | Joined Jul 2013 | 7,885 Posts
We watch the charts from every angle so you don't have to!!
- #164,771
- Jan 6, 2023 3:11am Jan 6, 2023 3:11am
- Joined Feb 2017 | Status: pippin' | 1,139 Posts
you are not expected to understand this
- #164,772
- Jan 6, 2023 3:23am Jan 6, 2023 3:23am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
First resistance at 1.0536
EU CPI numbers are very near
15 min
{quote} Holding!
CPI Flash Estimate y/y 9.2% forecast 9.6% previous 10.1% - dropped
Core CPI Flash Estimate y/y 5.2% forecast 5.1% previous 5.0% - rised
So still in a range until the bigger release later - NFP.
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- #164,773
- Edited 4:47am Jan 6, 2023 4:37am | Edited 4:47am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Meanwhile, on M30...
So far so good.. For me it was rinse and repeat selling spikes and pullbacks.. No higher highs yet so same logic continues.. (Don't worry I am noticing the macd divergence and therefore I want to first see if chart can really print a higher high!)
Bulls have almost arrived at holiday resorts 1.0491 area...
I am marking 1.0523 as nearest resistance on M30...
Happy NFP FRIDAY to all
So far so good.. For me it was rinse and repeat selling spikes and pullbacks.. No higher highs yet so same logic continues.. (Don't worry I am noticing the macd divergence and therefore I want to first see if chart can really print a higher high!)
Bulls have almost arrived at holiday resorts 1.0491 area...
I am marking 1.0523 as nearest resistance on M30...
Happy NFP FRIDAY to all
Focus only on what truly matters!
- #164,774
- Jan 6, 2023 4:52am Jan 6, 2023 4:52am
- Joined Jan 2022 | Status: living deliberately | 872 Posts
Meanwhile, on M30... So far so good.. For me it was rinse and repeat selling spikes and pullbacks.. No higher highs yet so same logic continues.. (Don't worry I am noticing the macd divergence and therefore I want to first see if chart can really print a higher high!) Bulls have almost arrived at holiday resorts 1.0491 area... I am marking 1.0523 as nearest resistance on M30... Happy NFP FRIDAY to all
When I take my eyes accustomed to price movements as a reference, I think that the news will reflect positively on the price. I hope I was able to explain what I mean. Thanks.
Swing Trader
- #164,775
- Jan 6, 2023 5:07am Jan 6, 2023 5:07am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Folks... I don't give a rats ass about fundamentals and numbers... I only know it often provides action.. For me the charts are everything!
That said... please study my H4 chart below.. It is not rocket science:
That said... please study my H4 chart below.. It is not rocket science:
- 1.0493 is critical..
- MACD divergence slowly building up is critical..
- The potential AB=CD pattern and its D leg: 1.0442 is not so critical as long as 1.0493 supports..
- If you look at the whole structure that is created so far you might anticipate that a very large W could soon form and therefore bulls might come back strong targeting 1.07 area, which is also critical..
- Also know that while H1 and H4 candles are below 1.0543, picture is bearish!
Make your "smaller timeframe" plans based on this.. It is all about how you interpret it..
Best wishes
Focus only on what truly matters!
- #164,777
- Jan 6, 2023 5:39am Jan 6, 2023 5:39am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
Ata is right, when it comes to trading technicals and have a system that eliminates the noise from the news then you don't have to break your head for what will come in the next significant release which in this case is the NFP.
Now how I see it:
I believe that the market expects a strong number and that is why the EU is falling now. I also think that a good number should be bought and a bad number should be sold when it comes out but there is also the longer term view at that release and many traders see and wait for an above 150.000 number jobs number (the one year average) as strong so they can continue buying the dollar uptrend on the weekly/monthly chart.
So we have to wait and see what will be the markets reaction and how will the bigger timeframe players will interpeat the release.
I personally believe that we should see a strong release and that EU will fall. Don't bet your account on that I may be wrong!
Now how I see it:
I believe that the market expects a strong number and that is why the EU is falling now. I also think that a good number should be bought and a bad number should be sold when it comes out but there is also the longer term view at that release and many traders see and wait for an above 150.000 number jobs number (the one year average) as strong so they can continue buying the dollar uptrend on the weekly/monthly chart.
So we have to wait and see what will be the markets reaction and how will the bigger timeframe players will interpeat the release.
I personally believe that we should see a strong release and that EU will fall.
Don't bet your account on that I may be wrong!
Looking for profitable short term trades ...|
- #164,779
- Jan 6, 2023 5:52am Jan 6, 2023 5:52am
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Bears are very happy... they can't wait for a long sleep at the resorts... 
Focus only on what truly matters!
- #164,780
- Jan 6, 2023 6:01am Jan 6, 2023 6:01am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
Bears are very happy... they can't wait for a long sleep at the resorts...
A bear trap may be ready just below them. Peace!
Looking for profitable short term trades ...|