As we can see on the 4H time frame we are currently consolidating between 1.11075 and 1.10650 so I will be waiting for a clean break and retest of one of these prices for a precision perfect entry.
Above 1.11075 we will look for TP levels at 1.11450 (38 pips) with a possibility of breaking our supply zone to 1.11650 (58 pips).
Below 1.10650 we will look for TP...
Yesterday’s release of the FOMC meeting minutes confirmed that a rate cut last month was a “mid-cycle adjustment”. The document also showed that policymakers were sharply split on the course of action to take, which was assesses by investors as a not-so-dovish sign. Now, market focus shifts to Jackson Hole symposium, where Powell’s speech will set the tone.
...
Trade Idea
Trading within a Bearish Channel formation.
We have a 38.2% Fibonacci pullback level of 1.1136 from 1.1066 to 1.1249.
The bias remains mildly bearish but there is scope for a move in either direction at the open.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
We look to Sell at 1.1135
Stop: 1.1165
Target 1:...
There's a lot going on here.
-Bullish Pin bar rejects 1.10650 support level and weekly trend line.
-The poorly circled area (my bad) shows shift in momentum past the previous swing.
-The exchange rate retraces 78.6% on the support that price most previously rejected.
Looking to go long ya dun know.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1155.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.1195.
TP4: R2=1.121.
Set the stoploss of these orders at breakout of S2=1.114.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
The price is below the moving average of 20 MA and MA 200, indicating the downward trend.
MACD is below the zero level.
The oscillator Force Index is below the zero levels.
If the level of support is broken, you shall follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.1065
• Take Profit Level:...
EURUSD*
The technical cross-section**:
Trend: -1
A strength of trend: -3
Overbought/oversold: none
The priority area of transactions: selling
Selling in the area of 1,1150 with a stop above 1,1190 and a profit in area 1,1070.
Selling in the area of 1,1220 with a stop below 1,1250 and a profit in area 1,1140.
GBPUSD
The technical cross-section:
Trend:...
EURUSD: key events loom As a reminder, the central bank cut the fed funds rate 0.25% in July for the first time since December 2008. Traders expect the Fed to cut the rate by another quarter percent next month and will be thoroughly assessing the message from the minutes in this context.
The dollar holds steady ahead of this event, also focusing on the...
EURUSD*
The technical cross-section**:
Trend: -1
A strength of trend: -4
Overbought/oversold: none
The priority area of transactions: selling
Selling in the area of 1,1150 with a stop above 1,1190 and a profit in area 1,1070.
Selling in the area of 1,1220 with a stop below 1,1250 and a profit in area 1,1140.
GBPUSD
The technical cross-section:
Trend:...
The EURUSD pair has been nursing losses for a fifth day in a row on Monday, with the euro remains under the selling pressure despite a better risk sentiment in the global financial markets after the Chinese central bank unveiled a reform of the LPR formation mechanism in order to make borrowing costs lower for companies and support the local economy, suffering...
After Pn-1 made a strong push I think it is likely that the incline will go on to 1.11163 or higher. However, there are still avarage imbalances in the weekly timeframe pulling Pn towards 1.10396. On the other hand, in the monthly cycle I see a tendency to gravitate to 1.1546 and 1.1560 - but when, I have no answer.
EURUSD pair is likely gathering momentum to begin a short-term rally on H4. With the daily close on Friday, I expect the pair to retest the swing low created on Friday (which may possibly drag to 1.10600 zone due to later news today). Ultimately, the pair is likely to reverse, break the trendline to commence uptrend towards 1.18000 zone and possibly 1.12400.
PLAN...
Looking to get a break and re-test of support turned resistance on the lower timeframe. Tight stop of 16 pips looking to follow the leg down to recent lows
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