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  • #5,521
  • Aug 21, 2024 10:39pm Aug 21, 2024 10:39pm
EUR/USD reached a 1.1174 high before it drops to the broken resistance now support at 1.1140. Fed officials and jobs revisions led the market to price more rate cuts for 2024 starting from September, but officials said they have to wait and see what the next numbers on inflation and NFP will be so they can support that view. More resistance is above the new high at 1.1185 and 1.1200. Support comes at 1.1132 and 1.1100 for now.

Daily volatility (range) 48 pips

Option expiries for Wednesday: 1.1100 (EU1.87b) Source: financialjuice.com

Significant news - FOMC, EU/US Manufacturing & Services PMI'S, US Initial Jobless Claims

15 min
Attached Image (click to enlarge)
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Green pips!
Looking for profitable short term trades ...|
  • #5,522
  • Aug 22, 2024 1:09am Aug 22, 2024 1:09am
Quoting SnowMan121
{quote}If you are analyzing the market in 5-minute time frames, it can be wrong. Smaller time frames can change trends that do not affect the main trend, and short time frame trends can be unstable and easy to break. I believe technical should be above or at least H1 time frames for more accurate judgment, but I could be wrong.
sorry to say but you are wrong about small timeframes. As far as I have seen small timeframes are magical and can predict higher timeframes accurately and precisely if you know how to read it.
  • #5,523
  • Aug 22, 2024 1:25am Aug 22, 2024 1:25am
Area around 1.1155-60 and 1.1170-80 should be closely watched for reversal signs.
  • #5,524
  • Aug 22, 2024 1:36am Aug 22, 2024 1:36am
Hey Good Afternoon!
Quoting ahmerjamil
{quote} But I haven't seen the previous news data yet, I will update after seeing that, There will be some guess What can happen tomorrow!
But if you look at previous EURO data, Was also red quite a many times!
Stop Procrastinating
  • #5,525
  • Aug 22, 2024 1:43am Aug 22, 2024 1:43am
Quoting braintec
{quote} the only thing that interests me now is understanding when to go long again
Ahmm, Naughty sir!
Stop Procrastinating
  • #5,526
  • Aug 22, 2024 2:00am Aug 22, 2024 2:00am
And if you look at the Weekly, We have Weekly TrendLine resistance near 1.141!
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Stop Procrastinating
  • #5,527
  • Aug 22, 2024 2:04am Aug 22, 2024 2:04am
On higher timeframes, dollar looks disastrous
  • #5,528
  • Aug 22, 2024 2:07am Aug 22, 2024 2:07am
Starting now!
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Stop Procrastinating
  • #5,529
  • Aug 22, 2024 2:08am Aug 22, 2024 2:08am
Quoting rehmatkhan00
On higher timeframes, dollar looks disastrous
Anything can happen, Today!
Stop Procrastinating
  • #5,530
  • Aug 22, 2024 2:10am Aug 22, 2024 2:10am
I expect French Numbers to be green- I mean they just had the Olympics... big boost to all economy there..
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #5,531
  • Aug 22, 2024 2:10am Aug 22, 2024 2:10am
Quoting ahmerjamil
And if you look at the Weekly, We have Weekly TrendLine resistance near 1.141! {image}
But it's far away!
Stop Procrastinating
  • #5,532
  • Aug 22, 2024 2:16am Aug 22, 2024 2:16am
Quoting Fxgfitking
I expect French Numbers to be green- I mean they just had the Olympics... big boost to all economy there..
Half correct Took profit - back to bed. EUR has had a huge upsurge also because of the exonomy boost the Olympics brought. With that being over - I do see a steady retracement/correction coming soon. Maybe after 1.12 before any further upside.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #5,533
  • Aug 22, 2024 2:17am Aug 22, 2024 2:17am
Quoting Fxgfitking
I expect French Numbers to be green- I mean they just had the Olympics... big boost to all economy there..
yup you are absolutely right brother
  • #5,534
  • Aug 22, 2024 2:18am Aug 22, 2024 2:18am
Quoting ahmerjamil
{quote} Anything can happen, Today!
I am mentally prepared brother
  • #5,535
  • Aug 22, 2024 2:18am Aug 22, 2024 2:18am
Quoting ahmerjamil
Starting now! {image} {image} {image}
First round is completed, Positive, Negative!
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Now waiting for the second round!
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Stop Procrastinating
  • #5,536
  • Aug 22, 2024 2:19am Aug 22, 2024 2:19am
Quoting Fxgfitking
I expect French Numbers to be green- I mean they just had the Olympics... big boost to all economy there..
Correct but manufacturing is bleeding! Waiting to see services from Ger.
Looking for profitable short term trades ...|
  • #5,537
  • Aug 22, 2024 2:19am Aug 22, 2024 2:19am
Quoting braintec
{quote} the only thing that interests me now is understanding when to go long again
Maybe now lol I think we will see 1.12 if data comes good today for EUR & bad for USD - 1.114 held support during Asia/Tokyo Session.
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #5,538
  • Aug 22, 2024 2:20am Aug 22, 2024 2:20am
Quoting ahmerjamil
{quote} First round is completed, Positive, Negative! {image}
+ & - = Same Spot
If 95% Of Traders Fail, Then Why Are You Doing The Same Thing They Are.
  • #5,539
  • Aug 22, 2024 2:23am Aug 22, 2024 2:23am
Quoting Js3mwtRc
{quote} Correct but manufacturing is bleeding! Waiting to see services from Ger.
yup fundamentally, the result is neutral but technically it looks like the correction has been completed and bulls are getting ready to fly again
  • #5,540
  • Aug 22, 2024 2:24am Aug 22, 2024 2:24am
Quoting Js3mwtRc
{quote} Correct but manufacturing is bleeding! Waiting to see services from Ger.
Yea - that part could have gone either way with data this week, I thought maybe it would have boosted slightly. Germany should be good to go. Oh man all I have to say is that if USD data comes red... This thing won't have a ceiling for now and can continue way up A normal retracement is usually 50-61.8% FIB - It currently at around 23-38% so its extremely bullish, making it hard to know when is a good low to jump in.

Hope you have been well bro
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