New Cable Thread & Other Pairs

1.3400 is coming!

Gold

It never came!

EUR/USD closed higher for the week following the Fed's unexpected 0.50% interest rate cut, which surprised the market as most had anticipated only a 0.25% reduction. The euro climbed to a high of 1.1189 before dipping to a low of 1.1068, where it found strong support. It then recovered most of its losses but remained below the key resistance level of 1.1201.

Looking ahead, the pair could continue higher and potentially break above this resistance to reach new highs. However, failure to sustain momentum and a break below minor support levels early in the week might lead to a retest of the 1.1068 low. With many potential obstacles, it's crucial to stay informed and monitor the news as the week progresses.

Weekly volatility (range) 88 pips

Option expiries for Monday: 1.1150 (EU748.7m), 1.1350 (EU660.8m), 1.1025 (EU326.5m) Source: financialjuice.com

Significant news - US/EU Manufacturing & Services PMI'S, US New Home Sales, US GDP QoQ, US Initial Jobless Claims, US Durable Goods, US PCE, US Consumer Spending & University Michigan Sentiment Final.
4 hours
Have a great rest of the week!

Tuần tới

W1 : 1.3515 ?

Checking how doing ! Long Swing in mentality but doing day scalping only recently! So all mixed , not perfect any and market also mixed as well too. 3282 was a good sr , should closed short scalping , done tp at last 3272 though with added short , ok unnecessary risk increased. And lost long from 3282 also. , again from 3270 long closed early 3304 , due may anticipated bear target move towards 3240 and was busy other works , ok my side.
And next probable pa for both ways scalping possible

So the plan to see Cable decline last week didn't play out as anticipated, After price broke above the resistance zone of 1.3265, I knew something was wrong and that my zig zag correction count was invalid. So I am using my alternate count and looking at this price pattern as a larger expanding flat correction. If the pattern is correct I anticipate Cable to decline to 1.3100 area. Let's see what happens this week. Good luck everyone!

EUR/USD is trading in a ranging mode between 1.1116/1.1189 from last Friday when it tried to rise above 1.1179 resistance and move higher but failed at 1.1136 support. For now looks like the bulls can hold the price above support and drive the pair higher at critical resistance of 1.1201 and try to break and reach higher at 1.1210 or 1.1231/38 but a failure below can find them defending the lower levels near 1.1100. Have a great week ahead!

Daily volatility (range) 41 pips

Option expiries for Monday: 1.1150 (EU748.7m), 1.1350 (EU660.8m), 1.1025 (EU326.5m) Source: financialjuice.com

Significant news - US/EU Manufacturing & Services PMI'S

1 hour

The euro fell to 1.1083 before rebounding to 1.1143, as disappointing data raised concerns about a stalled economic recovery in the region, increasing speculation of more significant rate cuts from the European Central Bank. Later, mixed US PMI results helped stabilize the pair, which is currently trading within the daily range.

A move down from here or from 1.1155/60 zone to 1.1083/68 is anticipated unless it recovers above the day's high.

It was great sharing with you, have a great rest of the trading day!

EUR/USD declined after encountering resistance at the 1.1140/43 zone, which prevented it from reaching the 1.1167 resistance level. However, the pair is still trading within a consolidation pattern above 1.1100.

A breakout above 1.1143 could push EUR/USD towards the higher resistance level at 1.1167. On the other hand, if the pair fails to surpass this resistance, it might trade below the 1.1100 round number, potentially leading to further declines towards the critical support level at 1.1068.

Daily volatility (range) 44 pips

Option expiries for Tuesday: 1.1120 (EU1.83b), 1.1030 (EU1.46b), 1.0870 (EU1.01b) Source: financialjuice.com

1 hour

Green pips!