I was looking for a move lower for EURUSD yesterday following Monday's bearish downside but in the end EURUSD moved higher. My buy levels were at 1.0752 and 1.0762 or so, looking for a rejection and a move lower. But we saw how price based before going higher and there was no rejection off the sell levels. I also did say one could try a long off the 1.0712 strong...
GBPUSD got a trend day which worked perfectly as per plan given yesterday and we got the 100pips down move. For today, similar to what was given for EURUSD, could see a pullback before further down, but overall bias is to the downside for a move to 1.2474. However, if GBPUSD goes down to 1.2500 double support without a pullback, expect a big bounce off the level, IMO.
I was bearish EURUSD yesterday and it played out perfectly. EURUSD just based at the PZ especially because Europe was away; but once US came in, EURUSD began the down move and a sell down of almost 65 pips. It even broke the strong level given and moved to the level below, just short of my final target, another 20 pips down. What's for today? It is always tricky...
I did up the plan but it was not saved, twice! But anyway, I did not provide the plan on Friday as it was Good Friday but Thursday's plan worked perfectly, as we caught the top and a 50 pips down move to the price target. Friday, EURUSD dipped further but went up on PCE data. IMO, Friday's move might not be representative as it was on low volume. Overall, I am...
GBPUSD moved as per the plan given; I was bearish GBPUSD and it moved down nicely yesterday. Similar to EURUSD, GBPUSD opened just below the PZ and came down on open, to the support below and bounced strongly, to make new highs but it hit the strong level within the PZ and came down the second time. But again the same 1.2617 level held with 2 bullish pin bars...
EURUSD moved lower as per plan given; I was looking for a rejection off the PZ for a move lower and it did hit PZ and moved down, though only hit the bottom of the PZ. And it hit the level below perfectly before bouncing to close near the mid point. Looking at the daily candle, we see bearish candle but with long lower wicks, indicating that market is looking to...
Sharing the algo levels for US30 - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
Sharing the algo levels for gold - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa. If gold is unable to break above this purple level, downside would be to the purple level below.
EURUSD plan worked rather well yesterday. Sell level at 1.0855 given and it reacted well and sold down 25 pips to new lows. I did consider a break above 1.0855 to possibly see further upside but my bias is to the downside possibility and it worked out well. Bearish Tuesday indicating further downside but bullish Monday indicating support. I am of the opinion of...
Sharing the algo levels for US30 - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
Sharing the algo levels for gold - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa. If gold is unable to break above this purple level, downside would be to the purple level below.
EURUSD sold off on last Thursday post FOMC, and further on Friday hitting the 61.8 Fib and also my strong level. I said EURUSD could come down from the PZ but I was of the opinion of a further pullback before downside. My sell level was at 1.0851. Yesterday was a slow moving day IMO as EURUSD just based and slowly moved above the PZ and did not hit the 1.0851...
Sharing the algo levels for US30 - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
Sharing the algo levels for gold - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
On Thursday, EURUSD reversed the FOMC rally, which I said is very bearish and we could expect further downside on Friday. Indeed, EURUSD sold off further on Friday for a good 60 pips, closing near the lows. Weekly price action is bearish thus expect further downside for this week. However, EURUSD is bouncing off the strong 1.0799 monthly level. Price has pulled...
Sharing the algo levels for US30 - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
Sharing the algo levels for gold - cyan color is daily levels, purple levels are weekly levels and orange levels are monthly levels. The higher the timeframe, the stronger the levels. In general, above OP and PZ, bias is to the upside and vice versa.
SPX was much sideways yesterday after the rally on FOMC the day earlier. SPX opened and moved up to first resistance before pulling back, but did not touch the bottom level. Some weakness towards the end of day as it is unable to go higher. Still SPX closed green. I said I will scalp for the pullback. It was not easy as there were "strange" rotations between...