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EURUSD only

  • #173,421
  • Jun 2, 2023 11:50pm Jun 2, 2023 11:50pm
Nice weekend
  • #173,422
  • Edited 1:21am Jun 3, 2023 12:13am | Edited 1:21am
Quoting Mitiblotch
{quote} I love this chart. First inverted HS pattern produced a bounce (plus the falling wedge I shared earlier) now I see the formation of the second inverted HS with the right shoulder around 1.0680 from where we should head straight to 1.0800 and above. A break down of 1.0630 invalidates everything. I don't have a single trade on.
I didn't see any second inverted H&S formation based on what you said. It is more on H&S rather than inverted H&S with the right shoulder around 1.068/70
Attached Image (click to enlarge)
Click to Enlarge Name: in HS.JPG Size: 32 KB
  • #173,423
  • Jun 3, 2023 12:30am Jun 3, 2023 12:30am
Quoting CryptoMavs
{quote} I didn't see any second inverted H&S formation based on what you said. It is more on H&S rather than inverted H&S with the right shoulder around 1.069/70
067/068 next to 80 weeks is good signal for reversal, new signal formation or nothing at all. Let's wait till monday, now is a nice and lucky weekend. (Just a guess, don't take it too seriously)
  • #173,424
  • Edited 2:06am Jun 3, 2023 1:20am | Edited 2:06am
just checking how the week ended ,a doji / breakout continues after pullback even, below 61.6% fibs , 78.6%tested and at some lows!limit 0697 looks at risk breaking by next market open and Mondayplay.in that case Monday range can be 0684 to 0761 and next to below 0661.without limit break by chance may try hard 0761 and up try,unlikely but market may confuse us !take care

checking usdx,ok a top failure to pull back towards 104.25, that is further up a little to correct most below 102.84 while limit 102.18
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD.iWeekly.png Size: 15 KB
Click to Enlarge Name: EURUSD.iH1.png Size: 16 KB
Click to Enlarge Name: EURUSD.iH41.png Size: 13 KB
Click to Enlarge Name: usdx2.png Size: 17 KB
Click to Enlarge Name: usdx1.png Size: 19 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #173,425
  • Jun 3, 2023 2:26am Jun 3, 2023 2:26am
EU managed to break higher this week making 1.0635 a bottom and now it's targeting 1.0800/30. In the bearish case a break of this new low could extend to 1.0515 but there is 1.0600/10 that I will watch for a possible bounce first! In the news the most significant movements will happen at US ISM Services PMI, US Factory Orders MoM, US Trade Balance & US Initial Jobless Claims. I expect 86 pips range.

1 hour chart
Attached Image (click to enlarge)
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Have a great rest of the weekend
Looking for profitable short term trades ...|
  • #173,426
  • Jun 3, 2023 12:41pm Jun 3, 2023 12:41pm
Quoting pedro319
{quote} Nearly there! {image}
love it!
I only follow traders with IQ above 160
Challenge Tour All Time Return: -55.8%
  • #173,427
  • Jun 4, 2023 3:53am Jun 4, 2023 3:53am
Hi guys. How's it going? I hope everything is okay. DXY made a strong rise. I think it's time to make a correction. Based to the 4H chart, 101.01 is an important area. I'm marking here. For the EU, this may be a harbinger of the rise. I will continue to update the chart. Be safe.
Attached Image (click to enlarge)
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Swing Trader
  • #173,428
  • Jun 4, 2023 4:00am Jun 4, 2023 4:00am
Quick H4 Outlook for Monday

  1. Don't mind the dramatic drop. Bulls are still busy forcing this up, inside this corrective channel...
  2. With 1.0668 area as temporary support, we could soon revisit 1.0770 and maybe higher if momentum builds up...
  3. Only after a bearish breakout from this bullish channel, we can speak of bearish continuation. Therefore, patience is key...

Stay blessed and keep enjoying your weekends folks...

Peace

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H4.png Size: 22 KB
Focus only on what truly matters!
  • #173,429
  • Jun 4, 2023 11:52am Jun 4, 2023 11:52am
I have been toying with EW and pretty sure I'm miscounting, but I expect to see more downside for now before significant retracement.
Nevertheless, I think we will stay withing the channel for a little longer:
Attached Image (click to enlarge)
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  • #173,430
  • Edited 6:05pm Jun 4, 2023 5:53pm | Edited 6:05pm
Quoting MateuszFx123
{quote} Logical targets for break-out are 1.08 (23 fibo) and 1.085 (38 fibo), but we should see break-out from a narrow downward channel first. 1.07 should act as temporary support (target in longer TM: 1.06 or triple bottom at 1.053) {image} On USDX we could also see: - (too) narrow upward channel - price is below 104 - 76 fibo rejection - triangular breakout range exhaustion Target: retest the upper band of the downward channel that started forming in late September 2022 / median line of the current upward channel. Target in longer TM: 105 {image}...
On USDX we had:
- 23 fibo pullback
- retest of an important downward trend line
We are at the median line, above minor support (blue line) and again above 23 fibo (100 - 114)

Attached Image (click to enlarge)
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On EURUSD we:
- tested the upper band of the downward trend channel and 61 fibo,
- the price was rejected strongly by the first resistance (50%)
- are at minor 1.07
- under 23 fibo pullback

Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 29 KB



EURUSD Bias: Bearish (we finally have pullbacks? - see quoted post)
Near term: a test of 1.06890 or lower band of the possible bearish flag


Bonus - how to deal with data release

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  • #173,431
  • Jun 4, 2023 8:14pm Jun 4, 2023 8:14pm
been looking for a reason to go long,,, 10680 seems logical... until 107.40 ish
  • #173,432
  • Jun 4, 2023 10:52pm Jun 4, 2023 10:52pm
Good week, EU is ranging and should keep its trend below 0725/30 or it may rise to 0760, support is at around 0680, the vol for today should be 39 pips and in the news later in the US session US ISM Services PMI is the most significant release to watch for more.

15 min
Attached Image (click to enlarge)
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Green pips!
Looking for profitable short term trades ...|
  • #173,433
  • Edited 11:36pm Jun 4, 2023 11:17pm | Edited 11:36pm
Quoting kingpower
{quote} Could you show it please? thank you in advance.
Plan for this week.
Scalp long whilst above 1.0690 target 1.0810.
As soon as 1.0685 breaks, sell pullbacks target 1.0634 and 1.0590 as per my previous post.
Main target for this week is 1.05.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1 3.png Size: 16 KB
We watch the charts from every angle so you don't have to!!
  • #173,434
  • Jun 5, 2023 12:01am Jun 5, 2023 12:01am
Quoting pedro319
{quote} Plan for this week. Scalp long whilst above 1.0690 target 1.0810. As soon as 1.0685 breaks, sell pullbacks target 1.0634 and 1.0590 as per my previous post. Main target for this week is 1.05. {image}
nice chart! Hope 068x level holds for now but 0735 will be the resistance leve above
Patience, Emotion Control and Discipline.
  • #173,435
  • Jun 5, 2023 12:08am Jun 5, 2023 12:08am
Meanwhile, on H1...

Environment is bearish, but bulls are probably not done with correction and therefore bears need to be patient..

When time is ready we can start to look for sell opportunities... For now 1.0705 area is resisting (but I skip selling there)..

Happy new trading week to all
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD-H1.png Size: 25 KB
Focus only on what truly matters!
  • #173,436
  • Edited 1:19am Jun 5, 2023 1:06am | Edited 1:19am
waiting 0704 retest and break to hold for 0716/25/35 test try. while total sl just below 0690. anyway as just risky scalping for correction while bear target can be 0684( can be sl for long though ) below to 0666/ below 0661 towards 0635 if breaks and hold 0690 or unable breaks and hold 0704. take care
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.iM15.png Size: 21 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #173,437
  • Edited 2:11am Jun 5, 2023 1:08am | Edited 2:11am
I expect EURUSD to go up today and to peak tomorrow below Friday's high, so no more than about 50 up PiPs before turning south. The down trend is still on. Above Friday's high invalidates the scenario.

PS. New day's low. Well, looks like it's unable to do the up retr. I expected. Reversed short a bit. Still expect it to retr. up before any serious down. For now riding this down without great conviction.
Practitioner of the cryptic trading arts
  • #173,438
  • Jun 5, 2023 3:02am Jun 5, 2023 3:02am
Attached Image (click to enlarge)
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  • #173,439
  • Jun 5, 2023 3:02am Jun 5, 2023 3:02am
Quoting ntadtin
{quote} 067/068 next to 80 weeks is good signal for reversal, new signal formation or nothing at all. Let's wait till monday, now is a nice and lucky weekend. (Just a guess, don't take it too seriously)
H&S formation. Might go down if 1.068 support is broken.
Attached Image (click to enlarge)
Click to Enlarge Name: in HS 2.JPG Size: 45 KB
  • #173,440
  • Jun 5, 2023 3:14am Jun 5, 2023 3:14am
Quoting CryptoMavs
{quote} H&S formation. Might go down if 1.068 support is broken. {image}
I'm still watching and I have entry 685, need h1 to close above 705 or exit
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