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EURUSD only

  • #189,821
  • Feb 23, 2024 1:02pm Feb 23, 2024 1:02pm
Quoting chacho.fx
{quote} If you are talking about the DXY, sure. But it would have the same effect as the EXY as well. You see the DXY went down a bit today, and the EXY went up. Slightly. The DXY going down pushed up gold today too. Sure. But I don't want to start talking about the DXY, or the EXY, or anything else other than the chart of EURUSD. Here at least.

They should call it EXY/DXY
  • #189,822
  • Feb 23, 2024 1:36pm Feb 23, 2024 1:36pm
Quoting ztrader247
{quote} They should call it EXY/DXY
I am using a custom basket for the euro works a lot better than the exy as it measures the euro
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  • #189,823
  • Feb 23, 2024 1:40pm Feb 23, 2024 1:40pm
Quoting Bloodwish
{quote} I am using a custom basket for the euro works a lot better than the exy as it measures the euro {image}
Holly Molly how does that work?
  • #189,824
  • Feb 23, 2024 2:04pm Feb 23, 2024 2:04pm
Quoting Bloodwish
{quote} I am using a custom basket for the euro works a lot better than the exy as it measures the euro {image}
So just a bunch of the majors bundled up then? Cool.
  • #189,825
  • Feb 23, 2024 2:10pm Feb 23, 2024 2:10pm
Quoting ztrader247
{quote} Holly Molly how does that work?
Go to add symbol on tradingview and paste this there and add it that should do the trick

EURUSD*EURGBP*EURCHF*EURJPY*EURCAD*EURAUD*EURNZD
  • #189,826
  • Feb 23, 2024 2:17pm Feb 23, 2024 2:17pm
Quoting LPxX
Im new to the fib strategy, but, is there a fib retracement on the 15 min 1.08267-1.08237? what do you guys think
fib retracement refers to it`s own 12345 ... you just need to find THE CORRECT ONE as there is much "noise" to make wrong decision
  • #189,827
  • Feb 23, 2024 2:18pm Feb 23, 2024 2:18pm
Quoting ztrader247
Guys, I have a quick question, which does control the Euro against USD, does euro control USD or USD control the Euro pricing?
Long story Short:
The US Dollar (USD) is the world's most traded currency, and the Euro (EUR) claims the second spot. The USD takes a daily share of 87.6% of all currency related trade activity, which is 2.79 times as much as the Euro's share at 31.4%.
This makes the DXY 87.6% inversely correlated to the EUR, but does not control the EUR.

So Who does control Who?
Simple: Hegde/Pension Funds and Big Banks (BB) are the Main Buyers & Sellers, they are setting the exchange rate on which 'we' (as retailers) are putting our Buy/Sell orders. No more, No less

FYI: The rest of the top five Forex pairs are the Japanese Yen with a 21.6% share, Pound Sterling at 12.8%, and the Australian Dollar at 6.9%.
  • #189,828
  • Feb 23, 2024 3:13pm Feb 23, 2024 3:13pm
Quoting John4y
{quote} Long story Short: The US Dollar (USD) is the world's most traded currency, and the Euro (EUR) claims the second spot. The USD takes a daily share of 87.6% of all currency related trade activity, which is 2.79 times as much as the Euro's share at 31.4%. This makes the DXY 87.6% inversely correlated to the EUR, but does not control the EUR. So Who does control Who? Simple: Hegde/Pension Funds and Big Banks (BB) are the Main Buyers & Sellers, they are setting the exchange rate on which 'we' (as retailers) are putting our Buy/Sell orders. No...

Thank you very much, that's what i call an answer
  • #189,829
  • Feb 23, 2024 4:09pm Feb 23, 2024 4:09pm
Happy weekend all!

pa is pretty boring due to no red news to move it!

1h chart plus 2doji on daily. Maybe we will see 0760 first?

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Patience, Emotion Control and Discipline.
  • #189,830
  • Feb 24, 2024 1:38am Feb 24, 2024 1:38am
EU found resistance at the monthly pivot and 50 daily ma at Thursday after news failed to convince the bull that the eurozone economy is out of risk and could stay in stagnation the best. The good is that the week closed up and above the significant zone of 1.0805 and 1.0790 who keeps this small trend up above 1.0695 swing low. Support levels like, 1.0723/32 could come only on a break of this significant zone especially 1.0790 who also finds in the way down another one level - 1.0761.
From the other a rise up finds 1.0862/70 and 1.0890/97 resistance zones. Also this trend from 1.0695 could continue up until at least finds in its way 1.0942/60 & 1.0973 R1 monthly resistance.

Weekly volatility (range) 86 pips

Significant news - US New Home Sales, US Durable Goods, US GDP QoQ, US PCE & US Initial Jobless Claims.

Daily
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Have a great weekend!
Looking for profitable short term trades ...|
  • #189,831
  • Feb 24, 2024 7:43am Feb 24, 2024 7:43am
Quick DAILY Outlook

  1. Overall bulls tried really hard but couldn't achieve a close above Inverted H&S neckline... Therefore, I stick to my main idea that bears should eventually revisit previous lows.
  2. The estimated target zone that bears might attack to create the missing shoulder could be somewhere between ~1.0742 and ~1.0784.
  3. All that considered, intraday wise, I will try to sell any spikes and rallies towards 1.0870...

That's all for now folks...

Keep enjoying your weekends. Peace

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Focus only on what truly matters!
  • #189,832
  • Feb 24, 2024 10:15am Feb 24, 2024 10:15am
The price is :
iM chart range 0,38 1,061 and 0,5 1,094
W chart closes green but wit a big pin bar rejection 0,38 1,086 4h and 0,5 1,085 day confluence
D chart pin bar as well but price should test Suport and Trent line upper channel then we have 2 possible situations hs or ab=cd
So I’m steel selling until 1,085 but this is a general view .
I’m scalping I can buy or sell but the positions in aline with bigger view a let it rol more
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Scalping
  • #189,833
  • Feb 25, 2024 2:55pm Feb 25, 2024 2:55pm
Price action is my truest indicator... Trade safe and have a blissful trading days ahead Kings and Queens!!! I enjoyed my Weekend ... So much wrong forex trading perspectives around my people here ... I'm moving to the Nigerian FCT with my Family ...
Price action, my best indicator.
  • #189,834
  • Feb 25, 2024 3:38pm Feb 25, 2024 3:38pm
Quoting Abrahamlinc
Price action is my truest indicator... Trade safe and have a blissful trading days ahead Kings and Queens!!! I enjoyed my Weekend ... So much wrong forex trading perspectives around my people here ... I'm moving to the Nigerian FCT with my Family ...
so that sounds amazing! I too just moved but I moved to Scotland
  • #189,835
  • Feb 25, 2024 3:59pm Feb 25, 2024 3:59pm
10 pips gap coming up
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #189,836
  • Feb 25, 2024 5:13pm Feb 25, 2024 5:13pm
Quoting Avir
10 pips gap coming up

I see a 10 pips candle as you expected, how did you get into that conclusion?
  • #189,837
  • Feb 25, 2024 5:28pm Feb 25, 2024 5:28pm
Quoting ztrader247
{quote} I see a 10 pips candle as you expected, how did you get into that conclusion?
Market never closes, but most of the retail brokers closes at 10PM London time, though some opens back early on Sunday at 9 PM as of one of my broker
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #189,838
  • Feb 25, 2024 5:55pm Feb 25, 2024 5:55pm
Quoting Avir
{quote} Market never closes, but most of the retail brokers closes at 10PM London time, though some opens back early on Sunday at 9 PM as of one of my broker
What are the best times you trade eurusd? how many trades per day if you're scalping
  • #189,839
  • Feb 25, 2024 10:38pm Feb 25, 2024 10:38pm
EU is still consolidating in a tight range - 1.0803/1.0840 and a break of the upper edge will open 1.0862/65 and the lower 1.0790/60. I hope thats all for today! Have a great week ahead!

Daily volatility (range) 39 pips

Significant news - US New Home Sales

1 hour
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Looking for profitable short term trades ...|
  • #189,840
  • Feb 26, 2024 1:06am Feb 26, 2024 1:06am
Quoting ahmerjamil
{quote} Update: (1.0791) (1.0768)
Hello all of you, Hope you all are well!

• Still same same same, (1.0791) (1.0768)
• (1.0814) is still offering support... Let's see if they can break it or not!

Happy Monday, Best wishes for all of you!
Stop Procrastinating
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