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  • #9,421
  • Aug 19, 2024 10:47am Aug 19, 2024 10:47am
EUR/USD has shown impressive strength today, possibly driven by USD weakness, which has propelled the pair to reach 1.1073. However, it is crucial to wait for the upcoming FOMC meeting and Chairman Powell's comments for further clarity before anticipating additional upside potential, possibly towards 1.1100/40.

From a technical standpoint, following price action indicates that this upward movement could be possible, as similar patterns have occurred in the past. Therefore, bulls have been given the green light for potential further gains. It's worth noting that a quick move higher may be more favorable in this scenario.

For now, it is advisable to watch for a potential resistance cap, either at the current level or slightly higher at the 1.1080 weekly R1 level. Nevertheless, it's important to remember that the current market conditions favor the bulls, and a drop below 1.1047 would be required for a more cautious outlook.

In summary, EUR/USD has been driven higher today, possibly due to USD weakness. Traders should await guidance from the FOMC and Chairman Powell before expecting further gains. From a technical perspective, the bulls are currently in control, and a potential resistance cap should be monitored.

See you tomorrow again, bye!
Looking for profitable short term trades ...|
  • #9,422
  • Aug 19, 2024 10:42pm Aug 19, 2024 10:42pm
EUR/USD reached a high of 1.1087 after the break of 1.1047 resistance yesterday, bulls found support at 1.1030 and then pushed higher after the market sold more dollars at expectations that the FED will cut rates for 0.25% at the September meeting. For now the trend is bullish and I expect this trend to continue to 1.1100 or 1.1140 unless it dips below 1.1047 before. More support below yesterdays lows and 1.1030 is located at 1.1000 & 1.0995. Have a great day!

Daily volatility (range) 43 pips

Option expiries for Tuesday: 1.0925 (EU1.84b), 1.1000 (EU1.47b), 1.0900 (EU642.1m) Source: financialjuice.com

1 hour
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Looking for profitable short term trades ...|
  • #9,423
  • Aug 20, 2024 12:17am Aug 20, 2024 12:17am
NZJPY H4 sell 90.00 - 90.15 area ABCD harmonic.
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  • #9,424
  • Aug 20, 2024 1:52am Aug 20, 2024 1:52am
Quoting Js3mwtRc
{quote} Lets see! Also some confluence with weekly R1.
Consolidated, in fact this trade can create a new top and can go down significant, but something tells me that the bull will go higher after a smaller retrace this time. I am waiting Friday for more info from Jackson Hole, for now its unsure where the end of the upside trade will be. Could be at 1.1100, 1.1140 or even higher at 1.1180 and 1.1200. After that I don't think we'll see EU up again for long time!
Looking for profitable short term trades ...|
  • #9,425
  • Aug 20, 2024 2:13am Aug 20, 2024 2:13am
EU
Bounce should have started
D1 Bfly and AB=CD
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  • #9,426
  • Aug 20, 2024 2:14am Aug 20, 2024 2:14am
Gold
H1 Bfly sell agrees with the higher timeframes.
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  • #9,427
  • Aug 20, 2024 2:18am Aug 20, 2024 2:18am
Brent crude
This one has broken the setup, the rr was good though.

EJ
Could still continue down.
We watch the charts from every angle so you don't have to!!
  • #9,428
  • Aug 20, 2024 2:23am Aug 20, 2024 2:23am
Quoting pedro319
EU Bounce should have started D1 Bfly and AB=CD {image}
it will be good to see 1.095xx again or below if we drops from current market price now.
  • #9,429
  • Aug 20, 2024 2:28am Aug 20, 2024 2:28am
Quoting hans91
{quote} it will be good to see 1.095xx again or below if we drops from current market price now.
My plan is to buy big time and get ready for 1.12 and 1.15.
Same with GU.
We watch the charts from every angle so you don't have to!!
  • #9,430
  • Aug 20, 2024 2:42am Aug 20, 2024 2:42am
Quoting pedro319
Gold H1 Bfly sell agrees with the higher timeframes. {image}
where you see the target after 2520-25 slide? Big correction or simply light? Another pump after that?
People don't plan to lose. They lose because they don't plan.
  • #9,431
  • Aug 20, 2024 2:47am Aug 20, 2024 2:47am
Quoting ScalaFX
{quote} where you see the target after 2520-25 slide? Big correction or simply light? Another pump after that?
I have to wait to see reaction.
Most times after overbought you see large corrections.
This time D1 stands at 2540 and W1 2560.
Step by step.
First lets deal with D1 Bfly sell.
We watch the charts from every angle so you don't have to!!
  • #9,432
  • Aug 20, 2024 4:36am Aug 20, 2024 4:36am
Quoting pedro319
{quote} I have to wait to see reaction. Most times after overbought you see large corrections. This time D1 stands at 2540 and W1 2560. Step by step. First lets deal with D1 Bfly sell.
Hi my dear friend
Will the drop target in the pound be in the 1.25xx range?
In your opinion, what prices should we expect in Euro?
Half of the time, the market is building resistance and support levels, and
  • #9,433
  • Aug 20, 2024 4:38am Aug 20, 2024 4:38am
Quoting Erkat
{quote} Hi my dear friend Will the drop target in the pound be in the 1.25xx range? In your opinion, what prices should we expect in Euro?
this is post to Gold targets
People don't plan to lose. They lose because they don't plan.
  • #9,434
  • Aug 20, 2024 4:42am Aug 20, 2024 4:42am
Quoting Erkat
{quote} Hi my dear friend Will the drop target in the pound be in the 1.25xx range? In your opinion, what prices should we expect in Euro?
Hi Erkat,
Remember the triangle on the pound, it should not even go anywhere near it.
On EU there is one too. 1.1030-1.10 is ok.
We watch the charts from every angle so you don't have to!!
  • #9,435
  • Edited 5:21am Aug 20, 2024 4:53am | Edited 5:21am
Quoting pedro319
{quote} I have to wait to see reaction. Most times after overbought you see large corrections. This time D1 stands at 2540 and W1 2560. Step by step. First lets deal with D1 Bfly sell.
What do you see on gold now, Pedro? Will you wait for 2540-60 to get hit first? I made some good money on short scalps yesterday. I'm long GU and waiting to cash out but thinking if GU hits my first TP at 3050 area then gold might spike to 2540-60 also.
  • #9,436
  • Edited 5:22am Aug 20, 2024 4:56am | Edited 5:22am
Quoting pedro319
{quote} Hi Erkat, Remember the triangle on the pound, it should not even go anywhere near it. On EU there is one too. 1.1030-1.10 is ok.
I feel a drop to the weekly pivots could happen sometime this week.

EurUsd: 1.0995
GbpUsd: 1.2879

After that, I fully agree with you. It looks like new highs for both pairs.
Observation is the path to discovery.
  • #9,437
  • Aug 20, 2024 4:59am Aug 20, 2024 4:59am
Quoting Mitiblotch
{quote} What do you see on gold now, Pedro? Will you wait for 2540-60 to get hit first? I made some good morning on short scalps yesterday. I'm long GU and waiting to cash out but thinking if GU hits my first TP at 3050 area then gold night spike to 2540-60 also.
I can only tell you how the market works most times as this is a bit tricky moment.
After 2525 normally you would expect a pullback before continuation to 2540 and 2560.
2494 and 2450 support.
We watch the charts from every angle so you don't have to!!
  • #9,438
  • Aug 20, 2024 6:31am Aug 20, 2024 6:31am
EU sell from here 1.1080 - 1.1094 Bfly on H4 I think.
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  • #9,439
  • Aug 20, 2024 6:33am Aug 20, 2024 6:33am
At some point buying Pound above 1.3 will be too expensive.. I'm here for you
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'In the clearing stands a boxer And a fighter by his trade..'
  • #9,440
  • Aug 20, 2024 8:21am Aug 20, 2024 8:21am
Quoting Js3mwtRc
EUR/USD reached a high of 1.1087 after the break of 1.1047 resistance yesterday, bulls found support at 1.1030 and then pushed higher after the market sold more dollars at expectations that the FED will cut rates for 0.25% at the September meeting. For now the trend is bullish and I expect this trend to continue to 1.1100 or 1.1140 unless it dips below 1.1047 before. More support below yesterdays lows and 1.1030 is located at 1.1000 & 1.0995. Have a great day! Daily volatility (range) 43 pips Option expiries for Tuesday: 1.0925 (EU1.84b),...
Hi where you take info about daily range?
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