New Cable Thread & Other Pairs

EUR/USD saw both gains and losses today, as traders remain divided on whether the Fed will opt for a 0.25% or 0.50% rate cut. I've decided to exit my positions for now and will wait for the outcome. Time to rest up for later, see you tomorrow and good luck with the Fed rate decision later.

DXY D1

not convinced on the bat pattern yet, and don't trade Dixie but this fits with other support and price action.

Gold m30.

both butterflies worked well.....TP 4 still looks likely.

EUR/USD advanced higher yesterday after the FED cutted 0.50% the interest rate but at 1.1189, the price faced strong resistance triggering a reversal and a sharp drop. The resistance likely formed due to a previous level of supply, where sellers dominated the market.

The price found short-term support at the 1.1068 level buyers have started pushing the price back up, indicating this area may act as a solid support level moving forward.

As of now, the price is consolidating near the 1.1120 mark, bouncing between 1.1068 and 1.1123. This sideways movement shows indecision in the market, and a break above or below could set the tone for the next significant move

The short-term direction could go either way, with a bullish breakout above 1.1123 confirming upward momentum or a break below 1.1068 signaling further declines.

Daily volatility (range) 43 pips

Significant news - US Initial Jobless Claims.

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Tokyo dollar/yen is coming and going! It dropped after just confirming 143 yen. Is the pound/dollar also fluctuating? London is also likely to drop the dollar/yen, but since we have confirmed Peak 2, we will settle our short positions for now.

NZDUSD m30

entered short.

EUR/USD is fluctuating after the Fed's rate cut, trying to establish direction. If it rises above 1.1154, it could maintain the momentum from 1.1068 and 1.1116, potentially testing 1.1180/89 again before 1.1201. However, failure to break higher may lead to a drop towards 1.1100 and 1.1068.

With the week almost over and Friday approaching, keep an eye on price action as traders adjust after the 0.50% cut. It was a great trading day for me.

See you tomorrow, and wishing everyone green pips!

This is unwinding surely after a massive hanging man on the 4 hour!

EUR/USD has moved closer to the highs around 1.1179/89 after rising above the 1.1140 support level. It is currently targeting the 1.1201 high. If a strong breakout above 1.1201 occurs, the next resistance level can be found at 1.1231/38.
On the other hand, if 1.1140 fails to provide support, the next potential levels to watch are 1.1117 or 1.1100. Further weakness could lead to 1.1068, depending on market sentiment. Have a great day ahead!

Daily volatility (range) 43 pips

Option expiries for Friday: 1.1150 (EU2.11b), 1.1100 (EU1.9b), 1.1200 (EU1.31b) Source: financialjuice.com

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