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  • #5,381
  • Aug 19, 2024 9:46am Aug 19, 2024 9:46am
Quoting RedAllOver
{quote} After suggesting this price pattern I think I'm better lying down ... that was a bit of a surprise start to the week {image}
Its early yet, so there is a possibility for another one test of 1.1030 as volatility gets slower to create an H&S formation! If not will drop again to test it again from higher % ...ok almost
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  • #5,382
  • Aug 19, 2024 9:47am Aug 19, 2024 9:47am
Quoting ahmerjamil
{quote} Nearest support zone: 1.1033 to 1.1029!
Boom!
Quoting ahmerjamil
{quote} Resistance at 1.1063
If it breaks, So next is 1.1087!
Stop Procrastinating
  • #5,383
  • Aug 19, 2024 9:52am Aug 19, 2024 9:52am
Quoting ahmerjamil
{quote} Boom! {quote} If it breaks, So next is 1.1087!
Well done Ahmer, nice work
Don't you know that I'm loco ...
  • #5,384
  • Aug 19, 2024 9:55am Aug 19, 2024 9:55am
Quoting PatienceFx
{quote} no choice left but to follow orders {image}
1070 exit taken
  • #5,385
  • Aug 19, 2024 9:58am Aug 19, 2024 9:58am
Quoting RedAllOver
{quote} Well done Ahmer, nice work
Thank you my brother!
Stop Procrastinating
  • #5,386
  • Aug 19, 2024 9:59am Aug 19, 2024 9:59am
Bears can still spin!

Daily
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  • #5,387
  • Aug 19, 2024 10:27am Aug 19, 2024 10:27am
Let it drop to 1.1047, 1.1018, 1.1003 for now and then we will add long again, Let's see...
Stop Procrastinating
  • #5,388
  • Aug 19, 2024 10:46am Aug 19, 2024 10:46am
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 ...|
  • #5,389
  • Aug 19, 2024 11:10am Aug 19, 2024 11:10am
Quoting Js3mwtRc
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...
Love these summaries
You explain it perfectly even beginners can understand it
Just know we appreciate you
Keep it up
Rra di chelete
  • #5,390
  • Aug 19, 2024 11:17am Aug 19, 2024 11:17am
Quoting RedAllOver
{quote} After suggesting this price pattern I think I'm better lying down ... that was a bit of a surprise start to the week {image}
You not alone my boy I think we should still keep our H4 bearish bias
But keep scalping bulls and book some profits so when some red folder events drop and H4 Bears finally get activated
we can short guns blazing
Rra di chelete
  • #5,391
  • Aug 19, 2024 12:34pm Aug 19, 2024 12:34pm
Quoting ahmerjamil
Let it drop to 1.1047, 1.1018, 1.1003 for now and then we will add long again
Right now we are at resistance, We should come down! Let's see...
Stop Procrastinating
  • #5,392
  • Edited 2:44pm Aug 19, 2024 2:16pm | Edited 2:44pm
hei hello BEARS!!!!

is everything okay?
It seems like you've forgotten that trend is your friend.
all resistances are broken
wait until 1.12xx and then you can sell

no breath to be able to enter long is absurd!!

see ya next
I'll Sell when price is heading to Hell
  • #5,393
  • Aug 19, 2024 10:40pm Aug 19, 2024 10:40pm
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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  • #5,394
  • Aug 20, 2024 1:28am Aug 20, 2024 1:28am
Based on H1, I am marking 1.1067 & 1.1050 as nearest supports!
Stop Procrastinating
  • #5,395
  • Aug 20, 2024 1:36am Aug 20, 2024 1:36am
Quoting ahmerjamil
{quote} Main resistance at here: 1.1087!
If it fails, The next is 1.1107!
Stop Procrastinating
  • #5,396
  • Aug 20, 2024 2:07am Aug 20, 2024 2:07am
And if you look monthly, We have the inversion, We are going up to 1.1422, 1.1695,There is also fib at 0.618 at 1.1247!
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Stop Procrastinating
  • #5,397
  • Aug 20, 2024 2:10am Aug 20, 2024 2:10am
Quoting ahmerjamil
And if you look monthly, We have the inversion, We are going up to 1.1422, 1.1695! {image}
Any reason?
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  • #5,398
  • Aug 20, 2024 2:29am Aug 20, 2024 2:29am
Its all bull from Friday breaking all the roof.

if we climbed above 1.1085 likely it will head to 1.12.

or if bear wants to fight back first thing is closing today under 1.1060

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Patience, Emotion Control and Discipline.
  • #5,399
  • Aug 20, 2024 2:44am Aug 20, 2024 2:44am
Quoting Js3mwtRc
{quote} Any reason?
There are many reasons, I say this over and over again, the biggest reason is this, There are many sellers & the price will never go down, Until the buyers grows up The robber banks will continue to increase the price, But nothing works directly, Step by step!
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Quoting ahmerjamil
And if you look monthly, We have the inversion, We are going up to 1.1422, 1.1695,There is also fib at 0.618 at 1.1247! {image}
I am telling this on a long term view, Whatever happens, Time will tell...
Stop Procrastinating
  • #5,400
  • Aug 20, 2024 3:33am Aug 20, 2024 3:33am
Quoting ahmerjamil
{quote} There are many reasons, I say this over and over again, the biggest reason is this, There are many sellers & the price will never go down, Until the buyers grows up The robber banks will continue to increase the price, But nothing works directly, Step by step! {image} {quote} I am telling this on a long term view, Whatever happens, Time will tell...
I think that you have it! It is just rare, I have seen it only one time back at coronavirus trade when EU reached 1.23500 at 2020! I am not saying that it can't happen again but using a daily timeframe is also more appropriate like you say step by step I would say day by day. Also we should have the economic reason for a good and stronger trend supported from fundamentals and then more buyers may turn more and more sellers as they are always wrong! For now I dont see it. Maybe 1.1200 but its extremely overbought condition. Another one reason is that we just saw the options market turning more bullish but thats not so much for now and that we should see more build in long positioning for an advance higher. Just some things you must know, glad to share them with you!
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