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Quoting WDays

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It's hard for me to say what will happen to the EU right now. On the one hand, it rallied since asia... On the other hand, I do believe that if we see a 1.0950-1.10 by the end of the day with no closing of the gap, this might be it in terms of upside. I expect the gap to be filled, however euphoria over the first round of the elections is still with the markets. Judging by European equities, though, buying is not as intense as it was yesterday. Gold also erased losses by yesterday's close. They say risk is back to markets, and investors are growing...

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Quoting illiquid

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{quote} I expect some reaction regarding Trump's tax plan and technically another test of the yearly pivot (about 1.0830) and a test of the untouched VPOC from March (about 1.0793).{image}

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Quoting WDays

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{quote} Yep, euro isn't going higher today I think... If Trump moves tax reform, expect the correction downwards tomorrow. Fiber range: 1.0820-1.0910

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Quoting Razor864

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Hey WD, Is this a level of demand? Can we see EU and GU reverse? {image} Thanks Razor

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Quoting WDays

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{quote} It's not demand in my book. It is however liquidity. Trump tax plan is in focus... so US equities, dollar are moving higher. I pointed to liquidity building above 1.09; I said if that gets taken out before the correction, I'm expecting a very very limited upside and loads of downside. {image}

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Quoting sl89

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{quote} Would you mind explaining a bit further why you don't think this is a demand level?

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Quoting WDays

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{quote} It's not demand in my book. It is however liquidity. Trump tax plan is in focus... so US equities, dollar are moving higher. I pointed to liquidity building above 1.09; I said if that gets taken out before the correction, I'm expecting a very very limited upside and loads of downside. {image}

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Quoting Koop

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{quote} Hey Wdays, the idea of considering the USDX when making trading decisions that involve most USD pairs is very nice and it has helped me a lot. I recently stumbled across a thread on FF which directed me to a broker who provides a sort of Index for other major currencies as well. Great stuff... i'v been using them for a while now just like with the USDX. i don't think you trade much of other currencies asides the USDX but if anyone wants to check it out, it's on the Liteforex mt4 demo .... CHFLFX, EURLFX, NZDLFX, etc {image}

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