Eurusd fav prices, fundamentals breakdown, and looking forward
0:0 Monthly Timeframe
1:25 Weekly timeframe
2:32 Daily timeframe
4:36 4hr timeframe
7:50 FOMC meeting minutes during upcoming NY
8:49 1hr timeframe
9:30 Retails sales data from today
Price bounced from weekly support +40 Pips as expected, looking for more accumulation in next 5 trading days
Ohh gosh, I don't want to overthink this one. I'm afraid it may turn out to be the case.. We have retraced back to our weekly support level 1.09 and are unchanged over the past 24 hours. The daily candle has pulled all the way back down and closed bearish, the 2nd bearish close this week after the strong selloff on Monday. The Daily candle also retested the bottom of structure from the range we observed over the first 2 weeks of August. The monthly candle is pulling down and we've been doing so since Interest rates during the final week of July. The Weekly timeframe has so far completed our fakeout concept from 1.1025 down to 1.09. The question is will we see this fakeout continue it's way down to the next weekly zone(and also monthly zone) 1.07?
Just follow the system though and have no worries. Nothing is achieved with worry, but suffering. Trust in thy system and experience and gold shall line thy pocket in due time. Safe trading everyone , cheers
0:0 Monthly Timeframe
1:25 Weekly timeframe
2:32 Daily timeframe
4:36 4hr timeframe
7:50 FOMC meeting minutes during upcoming NY
8:49 1hr timeframe
9:30 Retails sales data from today
Price bounced from weekly support +40 Pips as expected, looking for more accumulation in next 5 trading days
Ohh gosh, I don't want to overthink this one. I'm afraid it may turn out to be the case.. We have retraced back to our weekly support level 1.09 and are unchanged over the past 24 hours. The daily candle has pulled all the way back down and closed bearish, the 2nd bearish close this week after the strong selloff on Monday. The Daily candle also retested the bottom of structure from the range we observed over the first 2 weeks of August. The monthly candle is pulling down and we've been doing so since Interest rates during the final week of July. The Weekly timeframe has so far completed our fakeout concept from 1.1025 down to 1.09. The question is will we see this fakeout continue it's way down to the next weekly zone(and also monthly zone) 1.07?
Just follow the system though and have no worries. Nothing is achieved with worry, but suffering. Trust in thy system and experience and gold shall line thy pocket in due time. Safe trading everyone , cheers
Comment:
hello everyone, we are in a tight range still on Eurusd as we hover above 1.09 weekly support level. This is encouraging for Buyers who may be accumulating at the weekly support level. I thought maybe we would touch into 1.1076 4hr support zone today but that is not the case. We could still do it later in the week. In the meantime, I grabbed 12 pips on 2 trades in this 30 Pip range that we are in. Price found resistance at our 1.093 4hr resistance zone overnight, which was encouraging. The market is building up energy as we consolidate in this range and it will be released at some point
