EURUSD only

I made a post earlier asking what you guys thought about these possible resistance spots. I drew it out so you guys can see. I closed my longs today for now when it reached 1.06750. Now will just wait & play it out. Anyways cheers & happy weekend!

P.s. I know I am a new member lol this graph is not intended for advice or giving my knowledge- I just wanted to visually show you guys possible resistance spots for a correction that I mapped out for myself to keep an eye for myself since we didn't break as of yet.

TIRED PA ANY WAY THE GUY HAS DONE SOME THINGS TODAY

Since this post till 4 hours EURUSD was down so that works well too.

And Short from there

Enjoy your weekend everyone and thanks to the seniors for their hardwork

>0645 Buy

<0640 Sell

I had the same trend lines drawn. Traded up and down for 3 hours. I'm sure my Broker loved all the spreads. I closed the last trade (SELL) when it hit the bottom trend line because I had to pick up my son. I guess I should have set a stop loss and let it ride!

Have a great weekend everyone!

I believe kiwioz got his magnetic lines from tom demark. It's all in his book The New Science Of Technical Analysis published in 1994

EU pair ended slightly higher but within a smaller range compared to the previous week. The short-lived buying pressure and repositioning couldn't sustain itself due to factors like rate differential divergence and geopolitical events with US Dollar, leading to risk-averse behavior among EU buyers.

The levels I am watching for next week, 1.0695 resistance and 1.0600 support, seem like crucial points to monitor. A breakout above 1.0695 could potentially drive the pair towards the 1.0764 Fibonacci level, while a break below 1.0600 might result in a further decline to the 1.0516 low.

Remember that nothing in trading comes in a straight line. Staying adaptable and open-minded is key to navigating the ever-changing market conditions.

Enjoy your days off, and good luck with your trading next week!

Weekly volatility (range) 96 pips

Significant news - EU & US Services and manufacturing PMI'S, US New Home Sales, US Durable Goods, US Initial Jobless Claims, US GDP QoQ, US Consumer Spending & University Michigan Sentiment.

Daily chart

Off-Topic (but it is the weekend, so I want to point out that some tolerance can be shown!)

I re-checked and my bad, yes, in that book TD LinesTM (and TD PointTM selection) is the part where he talks about the magnetic line logic yes.

One thing to clarify though: Even if KiwiOz's "Magnetic Lines" logic comes from DeMark, he still worked in cooperation with caldera, another member of Forexfactory and a close friend of KiwiOz, to code the indicator to draw those magnetic lines when no tool was available at all. Therefore, the main credit belongs to DeMark for sure but some credit still belongs to KiwiOz and caldera for their amazing efforts!

*Thanks so much for mentioning. That way, I can now study DeMark's core logic to improve my simplified magnetic lines approach!

Best wishes

Morning guys
Does anyone know which MT5 broker allows me to trade Crypto on weekends?

So it's the weekend! I browsed a few other FORUMs EUR/USD and I was mentally drained in the 1st couple of minutes....too much fluff! Take that as a compliment to this FORUM Thread/Starter.


"I'm a travel nurse, ER Trauma, do not like having to think to much on days off "

Thank you for the positive feedback John... Highly appreciated.. Keep enjoying the warm family vibes here..

Best wishes

Hi All,

This is my EURUSD 22-26 Apr 2024 W17 Weekly Analysis – EU PMI / US PCE

Always highly appreciate your feedback.

Amr Sadek

Hope you all are having good weekend. I believe it is probably going down to the 1.05 area in the near future, but it has bounced off of 1.0616 which may send it higher. 1.05 is the lower range of support.

im expecting price to come back to and mitigate the Daily timeframe orderblock, then go up to the imbalance.

Quick DAILY Outlook

As long as price stays above yellow area, roughly above 1.0637/47, I will try to buy dips until we get to ~1.0713 area...