{quote} EU must still reach in to 1.06750 befor the next massive drop
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- #195,021
- Apr 16, 2024 8:18am Apr 16, 2024 8:18am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
- #195,022
- Apr 16, 2024 8:19am Apr 16, 2024 8:19am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
There might be 130+ pips down in USDJPY if price reaches to 154.30, what do you think? Read my full analysis here. {image} {image} {image}
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- #195,023
- Apr 16, 2024 8:26am Apr 16, 2024 8:26am
- Joined Dec 2015 | Status: Trader | 2,586 Posts
... the second chance bring out some nice profit ...
.. keep things simple ...
.. keep things simple ...
Perfection is the enemy of good enough!
- #195,025
- Apr 16, 2024 8:36am Apr 16, 2024 8:36am
- Joined Aug 2011 | Status: Trader | 4,956 Posts
As the lights go by so too do the shadows move
- #195,026
- Apr 16, 2024 9:05am Apr 16, 2024 9:05am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,449 Posts
Today's EUR/USD movements seem to have been driven by risk aversion. The initial drop to 1.0603 suggests that traders were seeking the safety of the US dollar in response to global risk concerns.
However, the retracement back up to 1.0654 on the disappointing US housing numbers demonstrates that market sentiment can shift quickly based on economic data releases. The fact that the pair then retraced again and traded within today's range highlights the ongoing uncertainty and volatility in the market.
As I have mentioned in my previous posts, there is a possibility that EUR/USD could break below today's low if the risk-off sentiment persists, leading to continued strength in the US dollar. On the other hand, if there are positive developments from around the world, we might see the pair break above the 1.0665 resistance and move towards the 1.0700 level.
Limit potential losses: Setting stop-loss orders and position sizing based on your account size helps you avoid excessive losses that could jeopardize your trading account.
From me have a great rest of your trading, see you tomorrow!
However, the retracement back up to 1.0654 on the disappointing US housing numbers demonstrates that market sentiment can shift quickly based on economic data releases. The fact that the pair then retraced again and traded within today's range highlights the ongoing uncertainty and volatility in the market.
As I have mentioned in my previous posts, there is a possibility that EUR/USD could break below today's low if the risk-off sentiment persists, leading to continued strength in the US dollar. On the other hand, if there are positive developments from around the world, we might see the pair break above the 1.0665 resistance and move towards the 1.0700 level.
Limit potential losses: Setting stop-loss orders and position sizing based on your account size helps you avoid excessive losses that could jeopardize your trading account.
From me have a great rest of your trading, see you tomorrow!
Looking for profitable short term trades ...|
- #195,033
- Apr 16, 2024 1:55pm Apr 16, 2024 1:55pm
- Joined May 2014 | Status: Full Time Trader | 27,148 Posts
Quick Wednesday Outlook
- Tomorrow after London opening, we will be either dealing with ~1.0587 area support or ~1.0649 area resistance.
- Bear momentum has slowed down for now and maybe even stopped but nothing is over yet.
- The only thing that bulls did so far is to slip out from the steep bearish channel.
- If bulls show no follow-through anytime until the end of this week, we probably continue deeper. Let's see if bulls can show some teeth.
My two cents
Focus only on what truly matters!
Quick Wednesday Outlook Tomorrow after London opening, we will be either dealing with ~1.0587 area support or ~1.0649 area resistance. Bear momentum has slowed down for now and maybe even stopped but nothing is over yet. The only thing that bulls did so far is to slip out from the steep bearish channel. If bulls show no follow-through anytime until the end of this week, we probably continue deeper. Let's see if bulls can show some teeth. My two cents
SKQT - Super Kool Quant Trader
Daily Remy All Time Return:
5.6%
- #195,036
- Apr 16, 2024 4:39pm Apr 16, 2024 4:39pm
- Joined Jul 2022 | Status: Trader | 1,412 Posts
4H chart only with lots of lines/levels to mind 
Based on 4h: Bears dominate the main trend, but for NOW we see that bear momentum is weakening. Therefore, I expect the price to retreat to 1.075 - 1.079 levels. {image}
