{quote} I love when it drops like that!
the climb is a ladder the descent is a knife
I'll Sell when price is heading to Hell
- Joined Jan 2024 | Status: RED SEA | 3,644 Posts
The last hour in images{image}
Amazing, mate!
Stop Procrastinating
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 12,935 Posts
Looking for profitable short term trades ...|
- Joined Mar 2010 | Status: Trader | 5,921 Posts
{quote} {image} Now just wait here until mama bear shows u tomorrow ok??
mama wakening @ 1.08413
Forex can only be understood backwards, but it must be traded forwards.
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 12,935 Posts
It looks like EUR/USD has been struggling to break through the previous week's high of 1.0876, with the recent attempt to push higher failing at the 1.0884 level. The pair is now trading in a tight range between 1.0860 and 1.0850. The ranging pattern EUR/USD is trading for two days now should continue until tomorrow's US CPI release.
I will be closely watching the CPI data for any signs of a slowdown in inflation, which could potentially impact the Federal Reserve's monetary policy decisions. While a slight moderation in price growth is expected, inflation is still likely to remain well above the Fed's preferred target of 2.0%, which could put downward pressure on EUR/USD.
If the CPI release comes in stronger than expected, we could see EUR/USD drop below the 1.0800 level. However, if the data shows a weaker than expected reading, that could provide a boost to the pair and potentially push it back above the 1.0884 high, with the next target being 1.0900 or higher.
It's important to remember that markets can be unpredictable, and even a seemingly small deviation from expectations can trigger significant price movements.
4 hours
Have a wonderful end of the day!
I will be closely watching the CPI data for any signs of a slowdown in inflation, which could potentially impact the Federal Reserve's monetary policy decisions. While a slight moderation in price growth is expected, inflation is still likely to remain well above the Fed's preferred target of 2.0%, which could put downward pressure on EUR/USD.
If the CPI release comes in stronger than expected, we could see EUR/USD drop below the 1.0800 level. However, if the data shows a weaker than expected reading, that could provide a boost to the pair and potentially push it back above the 1.0884 high, with the next target being 1.0900 or higher.
It's important to remember that markets can be unpredictable, and even a seemingly small deviation from expectations can trigger significant price movements.
4 hours
Have a wonderful end of the day!
Looking for profitable short term trades ...|
- Joined May 2014 | Status: Full Time Trader | 23,893 Posts
From here on forwards all we need to watch is 1.0857 until end of this day.
If daily (Tuesday) candle closes above it, bulls are not done and bears must carefully trade mixed!
If it closes below it a deeper correction is on the way so bears can relax!
Best wishes
If daily (Tuesday) candle closes above it, bulls are not done and bears must carefully trade mixed!
If it closes below it a deeper correction is on the way so bears can relax!
Best wishes
Be a seer, not a looker!
- Joined Jan 2024 | Status: RED SEA | 3,644 Posts
{quote} Do you have that level too?
{quote} Almost yes...
{quote} Update: 1.0865 to 1.0880
Stop Procrastinating
- Joined Jun 2009 | Status: Trader | 253 Posts
The last hour in images
I like the most that Mr. Bear is walking down the halls of King Bullsbeit, in order to go and ask for proper apologies for the disruption in flow he just created but also explained that such move was needed in order to trap some desperate stray bears that needed some lil pips so they could eat so, permission granted.
I'm sticking to my story...
- | Commercial User | Joined Jul 2013 | 7,187 Posts
{image} {image} I would like to see both patterns H1 and H4 respectively ,which in turn will form a W&R on D1 confirming bulls are finished.
H4 patterns suggests challenge of the inverted H&S right shoulder, how convenient!! With this domino effect between patterns I don't need to do anything, just wait, at that I am pretty good.
...but these are only THEORIES...
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