Drop may enter soon.. rejection of higher price started{image}
And they did it, but bulls momentum doesn't let them go so easy
Keep trading and learning or keep learning and trading!
or 
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- #177,726
- Aug 9, 2023 9:14am Aug 9, 2023 9:14am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,441 Posts
For now I see tails on the weekly chart, 200 ma is at 1.1185 at the same timeframe, but we should wait for the close. Also the price came from 50 and 100 ma's on the daily. The stars align. 
Looking for profitable short term trades ...|
always shorting eu All Time Profit:
$1,476
- #177,730
- Aug 9, 2023 9:47am Aug 9, 2023 9:47am
- Joined May 2014 | Status: Full Time Trader | 27,132 Posts | Online Now
Focus only on what truly matters!
I need a compelling argument to have a reason to buy the eurusd:
-Prices were at the sweet spot after profit taking from the bull run @1.1150 and the interest rate announcement tanked this pair(25 bps was already priced in the run up) if there had been a reason to continue higher this was it, instead the message from Lagarde was not optimistic…
-GDP figures are anemic to none existing in the Euro zone.
-Manufacturing and PPI numbers are flat but not improving.
-Unemployment is improving at a 11% + figures
-Business are struggling with high interest rates to the point of having members of its own Central Bank cabinet calling the Euro at the 1.1200 handle to apear excessive for what the economy needs right now to continue to grow.
-In conclusion until I’m proven wrong I intent to continue to sell the Eurusd to the 50% mark or 1.04 from the low last Sept first.
Let’s not forget what the FOREX market stands for; all currencies through their prices project and represent the economic health of the region or countries they come from. Once you know the why, the how gets easier…
My 2 pips on the matter. Good trading!
-Prices were at the sweet spot after profit taking from the bull run @1.1150 and the interest rate announcement tanked this pair(25 bps was already priced in the run up) if there had been a reason to continue higher this was it, instead the message from Lagarde was not optimistic…
-GDP figures are anemic to none existing in the Euro zone.
-Manufacturing and PPI numbers are flat but not improving.
-Unemployment is improving at a 11% + figures
-Business are struggling with high interest rates to the point of having members of its own Central Bank cabinet calling the Euro at the 1.1200 handle to apear excessive for what the economy needs right now to continue to grow.
-In conclusion until I’m proven wrong I intent to continue to sell the Eurusd to the 50% mark or 1.04 from the low last Sept first.
Let’s not forget what the FOREX market stands for; all currencies through their prices project and represent the economic health of the region or countries they come from. Once you know the why, the how gets easier…
My 2 pips on the matter. Good trading!
- #177,738
- Aug 9, 2023 10:24am Aug 9, 2023 10:24am
I need a compelling argument to have a reason to buy the eurusd: -Prices were at the sweet spot after profit taking from the bull run @1.1150 and the interest rate announcement tanked this pair(25 bps was already priced in the run up) if there had been a reason to continue higher this was it, instead the message from Lagarde was not optimistic… -GDP figures are anemic to none existing in the Euro zone. -Manufacturing and PPI numbers are flat but not improving. -Unemployment is improving at a 11% + figures