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  • #194,161
  • Apr 8, 2024 5:01pm Apr 8, 2024 5:01pm
Quoting I.Scorpion
{quote} That is the end if day mass dump of exchange orders that get auto executed at the end of the business day. Smaller banks, companies that need to exchange for another currency to make deposits, etc. The volatility jumps the spread. It's a main reason why you shouldn't hold trades outside of intraday on a high leverage account as well. You can have your account margin called.
Aha that makes sense, Thank you!!
  • #194,162
  • Apr 8, 2024 5:55pm Apr 8, 2024 5:55pm
My chart for now.

strategy remain as sell as high as possible, shorts from last Friday closed with a few pips. I will look for opportunity to reload

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Patience, Emotion Control and Discipline.
  • #194,163
  • Apr 8, 2024 6:39pm Apr 8, 2024 6:39pm
Quoting Kiwifrance
{quote} OK interesting thanks, took out a good few stop losses too, another reason not to hold on to a position overnight I guess.
For sure. I rarely hold past close of the day candle. Today was one of the few times I did, because I'm on a flight and need something to do, turned the stops off and watched it. It's the only way I do if I decide to stay in what started as an intraday trade. Still long and it's working out. The bull ride up continues.
  • #194,164
  • Apr 8, 2024 8:27pm Apr 8, 2024 8:27pm
Rose about 40+ pips today, but now it could go either way
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  • #194,165
  • Apr 8, 2024 9:16pm Apr 8, 2024 9:16pm
I don't trade this pair much but here is my best guess...
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  • #194,166
  • Apr 8, 2024 9:41pm Apr 8, 2024 9:41pm
Good morning fellas - Sell Still Continues from my side entry now cmp and sl high. Good risk to reward ratio
  • #194,167
  • Apr 8, 2024 10:48pm Apr 8, 2024 10:48pm
EU is trading inside a 1.0820 - 1.0876 range, there are no news on the calendar so I don't expect much volatility for this day too but maybe some more from yesterday because its Tuesday where more traders should join in to check on the charts.

Daily volatility (range) 40 pips

1 hour
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Green pips!
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  • #194,168
  • Apr 8, 2024 11:27pm Apr 8, 2024 11:27pm
Quoting johncen
My chart for now. strategy remain as sell as high as possible, shorts from last Friday closed with a few pips. I will look for opportunity to reload {image}
Chances it gets to 1.0890 today!
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  • #194,169
  • Apr 8, 2024 11:33pm Apr 8, 2024 11:33pm
Quoting Js3mwtRc
{quote} Chances it gets to 1.0890 today! {image}
Let's go! Bullards comments aren't hurting right now.... if yen strengths on news at the top of the hour we have a good chance after London.
  • #194,170
  • Apr 9, 2024 12:26am Apr 9, 2024 12:26am
Quoting Js3mwtRc
{quote} Chances it gets to 1.0890 today! {image}
over 0900 bull will go higher!
Patience, Emotion Control and Discipline.
  • #194,171
  • Edited 2:05am Apr 9, 2024 12:34am | Edited 2:05am
Quoting pedro319
{quote} Overall I think 61 has played a role in the whole thing, albeit as a solid resistance for hyper mega stupidly over leveraged short trade, only 10 pips. Genial thing!! Absolute genius!!
Do you remember 61?? Market still does!
This number holds a special meaning to me, it would be very sad to see him go!
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We watch the charts from every angle so you don't have to!!
  • #194,172
  • Apr 9, 2024 12:45am Apr 9, 2024 12:45am
Quoting pedro319
{quote} Do you remember 61?? Market still does! This number holds a special meaning to me, it would be very sad to see him go! {image}
I think that he is not kidding and this time is more determined!
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  • #194,173
  • Apr 9, 2024 1:15am Apr 9, 2024 1:15am
Resistance of trendline,100 sma and fib 38.20.Big move may possible after tomorrow's news
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  • #194,174
  • Apr 9, 2024 1:29am Apr 9, 2024 1:29am
Hi guys, I am curious and I am trying to understand more about the Fundamentals and how the news the main data drives the market. A question to the more knowledgeable and experienced in this field. I did a short research about some major economic factors that should drive the market. I used different sources so I might be wrong in the specific numbers. The question is most of the data shows that based on these stats the dollar should become stronger and the euro weaker. What are the news or factors that can bring the euro/USD to 1.10 or 1.20 from a fundamental perspective, not a technical one? I don't see many. the market sentiment is somehow fighting between bullish and bearish and it seems a lot of people believe the pair should rise. What I am missing in the big picture
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  • #194,175
  • Apr 9, 2024 1:40am Apr 9, 2024 1:40am
This will be my entry lets see how it reacts
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  • #194,176
  • Apr 9, 2024 1:46am Apr 9, 2024 1:46am
Quoting Kodzhamanov
Hi guys, I am curious and I am trying to understand more about the Fundamentals and how the news the main data drives the market. A question to the more knowledgeable and experienced in this field. I did a short research about some major economic factors that should drive the market. I used different sources so I might be wrong in the specific numbers. The question is most of the data shows that based on these stats the dollar should become stronger and the euro weaker. What are the news or factors that can bring the euro/USD to 1.10 or 1.20 from...
Keep your mind open to external / Geopolitical factors ex: Potential Iran Israel conflict escalation, this would change things massively.
Don't try to compute the variables yourself or it will end in tragedy, go step by step.
Good luck.
We watch the charts from every angle so you don't have to!!
  • #194,177
  • Apr 9, 2024 1:56am Apr 9, 2024 1:56am
Here you go
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  • #194,178
  • Apr 9, 2024 2:05am Apr 9, 2024 2:05am
Quoting pedro319
{quote} Do you remember 61?? Market still does! This number holds a special meaning to me, it would be very sad to see him go! {image}
Same experiment, same result, I am done for the day, week and month.
I will now focus on management of shorts D1,
We watch the charts from every angle so you don't have to!!
  • #194,179
  • Apr 9, 2024 2:06am Apr 9, 2024 2:06am
Quick H4 Outlook

  1. So far bulls did good BUT now it is the question if they have the power to pierce through the red zone I marked on chart!
  2. If yes we can continue higher.
  3. If no (which I think will be the case), banks probably will try to go back to hunt previous lows.
  4. If my guess is right, I am anticipating a retest of ~1.07715 area. There we must see how bulls protect that support. We always must go step by step. No rush!
  5. For now: 1.0849-ish is my nearest support and I keep buying dips as long as H4 and H1 candles open above it!

Happy trading day to all

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Focus only on what truly matters!
  • #194,180
  • Apr 9, 2024 2:17am Apr 9, 2024 2:17am
Quoting Kodzhamanov
Hi guys, I am curious and I am trying to understand more about the Fundamentals and how the news the main data drives the market. A question to the more knowledgeable and experienced in this field. I did a short research about some major economic factors that should drive the market. I used different sources so I might be wrong in the specific numbers. The question is most of the data shows that based on these stats the dollar should become stronger and the euro weaker. What are the news or factors that can bring the euro/USD to 1.10 or 1.20 from...
Hi Kodzhamanov.

If the US economy does start to soften and the Federal Reserve cuts interest rates more aggressively than the European Central Bank, that could certainly provide a boost to the euro and push EUR/USD towards the 1.1200-1.1400 range.

However these are just expectations, and the situation could always change. If the European economy fails to pick up steam or if geopolitical factors come into play, we could see a reversal in EUR/USD and a potential drop below 1.0600.

Pedro makes a good point about the importance of geopolitical factors in determining price action. Events like elections, trade wars, or other political developments can have a significant impact on currency markets, so you should always be aware of the broader context in which they're operating.
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