Only EURUSD

Bull seems ready

Not yet let see hourly close!
or nothing until ecb

update 1435 still in the way

Nice, nice drawing... I dont need to publish mine graphs anymore.
EURUSD H1
trendlines

i love your drawings too
i entered a long based on h1 closed but not sure if we can break above 1435. (Closed-5)
Staying above 1400 bull still in charge otherwise we should see 1350

Don't u just h8 when it reverses just b4 hitting tp either close manually or w8 and sometimes watch your profits disappear

Now it can goes anywhere... I prefer short

Getting ready!

Just wait for the dust to settle like a rejection on eg. pinbar, engulfing & etc. at 15/30 min. or other tmf and drop/rise above/below support/resistance before you enter a trade!

Keep tight stops above/below resistance and target more than you risk.

4H with daily supply demand.

After the expected rate cut US Unemployment Claims comes next and ECB interview comes 15 min. later.

Good luck!

EU is bullish now, buy positions are more favoured for the pair.

The combination of the ECB's rate cut (which was largely priced in and followed by a less dovish-than-feared press conference) and the weaker-than-expected US jobless claims created a powerful upward momentum for EURUSD.

The Euro, instead of weakening significantly from its own rate cut, found support from the ECB's messaging and the potential for a less aggressive easing cycle.
The US Dollar weakened considerably due to the signs of a deteriorating labor market.

I expect to see it trading above 1.1500 but with some caution because of the psychological meaning of the round level. 1.1513/33 are now targets.

1.1404, 1.1440/54 should support.

China’s President Xi and Trump agree to start new round of talks ASAP - CCTV. source: financialjuice.com

Here we go again!

Approaching my TP on my H4/Daily trade. To say that I expected the dollar weakness is a gross understatement. This trade made me learn the importance of balancing swap fees. I opened 2 positions for this reason so I sold one of them as a reassurance if it went down I would still maintain a profit, especially given that I've paid almost 400 dollars in swap fees for a 4.5k position. That's almost a 10% bite that could have been prevented through reducing the position size at the highs, and having the opportunity to potentially buy at the lows.

Trump's policies since he got to office have been dollar down. Towards the nearing of the count, he supported Bitcoin because he knew that if he brought the dollar down any /USD trade would rise. This is to create an environment where exports become substantially more competitive through currency devaluation. He wants to restructure an economy from its credit consumer based, to an export driven economy. It's a big ask, and probably not achievable in a 4 year term. The only thing standing in the way of an "export dollar", for lack of a better word, is monetary policy. They could sign as many executive orders as they want for policy, but they cannot manipulate the FED.

During this time the yields on the longer dated bonds started rising way above the target rate. Someone big was selling US bonds. What drives the decisions of Mr. Powell isn't really the data. It's the yields, especially in a high interest credit economy. The problem with this is that if he has to start raising rates, credit delinquencies would skyrocket and many banks would go insolvent. We saw some banks go bust when rates started rising some time ago. The FED would rather maintain rates steady than touch anything right now as the downfall would be substantially less than if inflation starts flaring up as a result of major currency devaluation. One where the fed is involved, like say lowering the target rate in an environment when yields are rising. I was strongly against his decision to lower the target rate for Biden, this could've been prevented.

But that's just my 2 cents.

Today, the ECB cut rates as expected but offered a less dovish outlook, while weaker US jobless claims indicated a softening US labor market. This combination caused EURUSD to rally sharply, breaking key resistance levels. Later negative news about US-China trade talks and profit taking nest 1.1500 reversed the trend and now the pair is consolidsting above 1.1404 level.

Next is NFP, a weaker number will strengthen the EU but the opposite may start a new short term downtrend for the pair.

That's all, I wish you green pips! See you tomorrow!

bulls in favour no doubt, unless we can go back to under 1400 maybe we will retest the daily high next

The EUR/USD dropped on hopes for a trade deal between China and the US, and the risk-on dollar strengthened. This Non-Farm Payrolls (NFP) Friday should help determine if this strength will continue, or if the EUR will resume its ascending trend towards the 1.1500 and 1.1513/33 resistance zone. The 1.1400/04 zone should provide support unless it breaks. If it does, then 1.1374/56 and 1.1312 are the next possible targets

Green pips!


Daily volatility (range) 114 pips

Option expiries for Friday: 1.1400 (EU1.64b), 1.1500 (EU1.51b), 1.1300 (EU1b) source: financialjuice.com

Significant news - Non Farm Payrolls

4H

DXY H1
trendlines

pattern: rising wedge

Trump is a headache for bulls eh!

"Less is more in trading. Focus only on
Your highest quality signals."

EURUSD H1
trendlines
Where there is a rising wedge (DXY), there must also be a falling wedge (EURUSD)
Moving in red channel can be for today...

"The larger the trading position, the bigger
Your emotions and ego will grow."

"You don't build legacy through noise.
You build it through the consistency
no one sees."