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  • #1,221,081
  • May 17, 2023 10:53pm May 17, 2023 10:53pm
Quoting Walz
FX option expiries for May 18 NY cut at 10:00 Eastern Time, - EUR/USD: EUR amounts 1.0775 591m 1.0805 2.5b 1.0860 879m 1.0900 1.4b 1.0935 570m 1.0945 1.4b
Some big ones for today
Looking for profitable short term trades ...|
  • #1,221,082
  • May 17, 2023 10:56pm May 17, 2023 10:56pm
Quoting trade.pro
EUR/USD (4H): The price may start a downtrend after breaking through the local support zone. Now the price is consolidating near the important 1.10 resistance area {image}
Hi, what’s your website or software ? Thanks
  • #1,221,083
  • Edited 10:19am May 18, 2023 9:43am | Edited 10:19am
Quoting energies
{quote} ...soon under 1.08, attacking the 1.07xxx...
...next 1.06xxx..
  • #1,221,084
  • May 18, 2023 11:21pm May 18, 2023 11:21pm
FX option expiries for May 19 NY cut at 10:00 Eastern Time,
- EUR/USD: EUR amounts

 

  1. 1.0750 758m
  2. 1.0825 401m
  3. 1.0850 974m
  4. 1.0900 842m
  5. 1.0950 460m

  • #1,221,085
  • May 18, 2023 11:26pm May 18, 2023 11:26pm
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Correction move from Green trend line. According to option expiration at 10 NY time My goal for today is number 3 or 4 with highest amount from post above.
  • #1,221,086
  • May 19, 2023 11:29am May 19, 2023 11:29am
EurUsd bounces back from weekly lows 1.0759. Today's highest quotation was 1.08287.
Us House Speaker McCarthy and Senate Majority Leader Schumer are preparing to schedule votes in the upcoming days. Deal might be reached over the weekend.

So I expect retest weekly lows on Monday. My first target for Monday : 1.07267 and second one 1.0710.


FX option expiries for May 22 NY cut at 10:00 Eastern Time,
- EUR/USD: EUR amounts

 

  1. 1.0705 1,5 b
  2. 1.0720 747m
  3. 1.0825 1,6 b
  4. 1.0840 1,0b

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  • #1,221,087
  • May 19, 2023 11:35am May 19, 2023 11:35am
Quoting FXFlash52
While I, like most traders here, have been short on the USD for a while, now I am flat. Reason: When a trend or stock etc becomes front page news, is on the television & radio every day, and everyone you bump into everywhere is talking about it - it is time to take profits and re-evaluate before jumping back in to the market. It never hurts me to take profits and be flat even if I leave a lot of pips on the table because I can never, ever seem to call the top or bottom and I don't bother to try. It always hurts me to give back pips to the market...
You think EURUSD will go buy high from next week?
  • #1,221,088
  • Edited 9:01pm May 19, 2023 7:35pm | Edited 9:01pm
Just take note that the (low) .082 level is where the 50 fibo resistance of the drop since 2020 lies. Unless that is breached, assume that the downside bias remains.

Also, this week's low is just several pips off the 38.2 fibo support of the rise since March...

Take your pick: Which level do you think will give way?

I also don't think the Republican has it in them to save the US from bankruptcy. It's gonna be their way or the highway. So downside is more pronounced.

Quoting Walz
EurUsd bounces back from weekly lows 1.0759. Today's highest quotation was 1.08287. Us House Speaker McCarthy and Senate Majority Leader Schumer are preparing to schedule votes in the upcoming days. Deal might be reached over the weekend. So I expect retest weekly lows on Monday. My first target for Monday : 1.07267 and second one 1.0710. FX option expiries for May 22 NY cut at 10:00 Eastern Time, - EUR/USD: EUR amounts 1.0705 1,5 b 1.0720 747m 1.0825 1,6 b 1.0840 1,0b {image}
"No trade is still a trade." - Peter Borish
  • #1,221,089
  • Edited 1:37pm May 20, 2023 1:12pm | Edited 1:37pm
I know I don't believe it either, But there's a chance they might surprise me at least once. Every year they manage to reach an agreement at the last moment
I think it will be the same this year as well. If not it will be a big surprise and drama.

From Market Anatomy we can say that there is downward pressure and that sellers are having more influence than the buyers.
From weekly time frame perspective I expect move to retest 1.04810. So far I can't see any serious reversal pattern. We still have Lower Lows and Lower Highs.
I prefer to go with the trend than fight it. Any dive below Daily opening level tells me big SELL. So I just go with the flow
However we may return to the 940 and after we can start to fall. For now I'm waiting to see how the price react on green trend line
whether we 'll break through it or bounce back. On Tuesday I'll be looking for opportunity to catch ride up to 900 level
I like to trade what I see more than what I think and just react.
  • #1,221,090
  • May 21, 2023 8:38am May 21, 2023 8:38am
Quoting Lbrto
Just take note that the (low) .082 level is where the 50 fibo resistance of the drop since 2020 lies. Unless that is breached, assume that the downside bias remains. Also, this week's low is just several pips off the 38.2 fibo support of the rise since March... Take your pick: Which level do you think will give way? I also don't think the Republican has it in them to save the US from bankruptcy. It's gonna be their way or the highway. So downside is more pronounced. {quote}
I stand corrected on this one, it's 61.8 fibo support of the rise since March.

"Also, this week's low is just several pips off the 38.2 fibo support of the rise since March..."
"No trade is still a trade." - Peter Borish
  • #1,221,091
  • May 21, 2023 1:47pm May 21, 2023 1:47pm
EURUSD price action on the daily time frame is bearish. Although bulls are presently challenging the southward move, the technical structure is bearish. Further southward drive may target the 1.05100 horizontal support area (green).

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #1,221,092
  • May 21, 2023 7:07pm May 21, 2023 7:07pm
They are waiting for shorts to trap to move the market up.

The fx market is predominantly a damned if you do and damned if you don't environment.

Points like this is where the risk/reward is. The difficult part is where/when the reward will actually start, that is if you're on the right side.
  • #1,221,093
  • May 22, 2023 1:44am May 22, 2023 1:44am
For today my entry flip point 1.08056
  • #1,221,094
  • May 22, 2023 3:06am May 22, 2023 3:06am
Quoting Fml
They are waiting for shorts to trap to move the market up. The fx market is predominantly a damned if you do and damned if you don't environment. Points like this is where the risk/reward is. The difficult part is where/when the reward will actually start, that is if you're on the right side.
This definitely is a liquidity hunt. They're enticing short positions at the lower and especially the top of the range.

Smart traders, if there are any here, currently know where the bulk of existing trapped traders are.
  • #1,221,095
  • May 22, 2023 3:26am May 22, 2023 3:26am
Do we really think EURUSD will rise?
The drewdown on market is overwhelming
  • #1,221,096
  • May 22, 2023 11:10am May 22, 2023 11:10am
Quoting energies
{quote} ...soon under 1.08, attacking the 1.07xxx...
Next 1.06, so watch out longs....
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  • #1,221,097
  • May 23, 2023 9:10am May 23, 2023 9:10am
Quoting energies
{quote} Next 1.06, so watch out longs.... {image}
...watch out, it'll be very fast, can even go lower to 1.05xx.....
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  • #1,221,098
  • May 23, 2023 9:28am May 23, 2023 9:28am
Quoting energies
{quote} ...watch out, it'll be very fast, can even go lower to 1.05xx..... {image}
Curious, why would you think that EUR/USD can go down very fast? The sentiment ranges from very negative on USD to neutral. Even those who believe there will be one more rate hike believes that the hiking cycle has come/is coming to an end.

On the other hand, ECB has mentioned they are still open to hikes.

This supports EUR/USD going up. I'm not saying EUR/USD is heading up, but I'm not seeing a quick slide down for EUR/USD or GBP/USD even.
  • #1,221,099
  • May 23, 2023 9:36am May 23, 2023 9:36am
Quoting FxSnapper
{quote} Curious, why would you think that EUR/USD can go down very fast? The sentiment ranges from very negative on USD to neutral. Even those who believe there will be one more rate hike believes that the hiking cycle has come/is coming to an end. On the other hand, ECB has mentioned they are still open to hikes. This supports EUR/USD going up. I'm not saying EUR/USD is heading up, but I'm not seeing a quick slide down for EUR/USD or GBP/USD even.
I think he's talking based on the chart but I can't see as well how that would be so...

would be interesting to know his thoughts...
"No trade is still a trade." - Peter Borish
  • #1,221,100
  • May 23, 2023 9:41am May 23, 2023 9:41am
Quoting Lbrto
{quote} I think he's talking based on the chart but I can't see as well how that would be so... would be interesting to know his thoughts...
I can't see based on charts, so I considered fundamentally. To which, I can't even see EUR/USD going down. Fundamentally, I would be arguing for EUR/USD to strengthen.
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