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New Cable Thread & Other Pairs
- #9,965
- Sep 12, 2024 10:52am Sep 12, 2024 10:52am
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,489 Posts
Following a brief drop to 1.1005 this morning, the EUR/USD pair rebounded above the 1.1026 level due to a rate cut that generated only minimal downside interest, likely a result of strong support above the 1.1000 level. Currently, the pair is trading above the previous resistance level at 1.1026 but has been unable to surpass 1.1054 due to selling pressure, leading to consolidation within the current range.
Tomorrow, the release of the University of Michigan report is anticipated to show higher figures. As a result, any upward movement should be approached cautiously, as there is a possibility of another dip. However, if the bulls can push the price above the 1.1065 resistance level, they may have the potential to surpass the weekly high at 1.1090 and potentially reach 1.1100.
Have a great rest of the trading day with green pips!
Tomorrow, the release of the University of Michigan report is anticipated to show higher figures. As a result, any upward movement should be approached cautiously, as there is a possibility of another dip. However, if the bulls can push the price above the 1.1065 resistance level, they may have the potential to surpass the weekly high at 1.1090 and potentially reach 1.1100.
Have a great rest of the trading day with green pips!
Looking for profitable short term trades ...|
- #9,968
- Sep 12, 2024 5:57pm Sep 12, 2024 5:57pm
- Joined Aug 2017 | Status: Trader | 3,298 Posts
Does anyone have a non conspiratorial explanation as to why data that should have ben good for USD wasnt?
And why less than expected drop in inflationary pressures resulted in an increase in projections of a .50bps cut?
And why less than expected drop in inflationary pressures resulted in an increase in projections of a .50bps cut?
Its all just one persons opinion
- #9,970
- Sep 12, 2024 9:15pm Sep 12, 2024 9:15pm
- Joined Aug 2017 | Status: Trader | 3,298 Posts
{quote} projection was 50% but inflation numbers increased so the expectations went to 25% cut. EURO cut was expected and baked in. Unfortunately, data dependent traders eat dust and some how tie the drop or rise to data. nothing to do with data it's all about creating false sense. Look to higher time frames weekly and u will notice euro is in a uptrend. lower times frames are just noise.
Its now at a 60 40 split. Was 75 25.
Its all just one persons opinion
- #9,972
- Sep 12, 2024 10:47pm Sep 12, 2024 10:47pm
- Joined Jun 2016 | Status: Sharing EUR/USD Ideas and Insights | 15,489 Posts
EUR/USD advanced higher after the market ignored the interest rate cut from the ECB looking to FED next week by pricing in a bigger cut - 0.50% which its uncertain yet. Today US UoM report will be the last red news for the week and is expected to come higher. For now 1.1054 is holding the upside, as bulls manage to enter after the break and helped the price to advance to the weekly pivot where is consolidating for now. More resistance that could cap EU is located to 1.1100 and at the upper edge of the trendline at 1.1125/35 zone. If from the other 1.1054 and 1.1065 - another one level I watch fail to deliver more upside then EU should find 1.1040 or 1.1026 next. These supports was resistance levels but the price closed above and are now strong levels.
Daily volatility (range) 39 pips
Option expiries for Friday: 1.0975 (EU958.7m), 1.1030 (EU831.4m), 1.1120 (EU586.3m) Source: financialjuice.com
Significant news - University Michigan Sentiment
1 hour
Green pips!
Daily volatility (range) 39 pips
Option expiries for Friday: 1.0975 (EU958.7m), 1.1030 (EU831.4m), 1.1120 (EU586.3m) Source: financialjuice.com
Significant news - University Michigan Sentiment
1 hour
Green pips!
Looking for profitable short term trades ...|
- #9,973
- Sep 13, 2024 1:49am Sep 13, 2024 1:49am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
Go my wonderful bears and bring me the pips!
Risk Management is of utmost importance!
- #9,974
- Sep 13, 2024 2:15am Sep 13, 2024 2:15am
- Joined Sep 2017 | Status: Trader | 11,348 Posts
Go my wonderful bears and bring me the pips!
- #9,975
- Sep 13, 2024 2:17am Sep 13, 2024 2:17am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
Risk Management is of utmost importance!
The dollar/yen exchange rate continued to trend downwards in Tokyo, but the decline weakened around 2:00, hitting its lowest point at 13:30 and then rebounding. After the rebound, it weakened but could not fall any further and the trend line turned upward. I went long at the second blue circle signal, and after a slight rebound at the London entrance, I added more as buying came in without breaking the blue line, and it is growing steadily.
