developeralgo222

developeralgo222

if EURUSD pops then we are heading to test the upper 1.2366 to 1.2550 region. At that point we can decide and let's forget about the USD and all of us pile into Bitcoin train!!!!!! . Nope , hold your horses , Not very fast. King Dollar has a say in that . But if EURUSD drops then we are headed to familiar territory ( Happy bandwagon region ) 1.1800 to 1.0600...

developeralgo222 Updated 

By Ruth Carson April 5, 2021, 2:22 AM EDT Updated on April 5, 2021, 1:05 PM EDT www.bloomberg.com Almost six months after Goldman Sachs Group Inc. recommended shorting the dollar, it’s calling it quits on the trade. In a note titled “tactical retreat,” Goldman’s currency team closed its recommended short greenback position against a basket of Group-of-10...

developeralgo222 Updated 

This marriage is in trouble, Queen Euro of EU has so many suitors , just to name a few King Dollar ( USDX Index) of US --- Always unpredictable and drunk most of the time, but rules the world. King Gold ( XAUUSD ) of former World--- an old-timer, former King with no prospects of ascending to the throne again for long-term Prince DowJones ( DOW30) of US ---...

developeralgo222 Updated 

USDX Index story is very interesting . The underlying factors that affect the dollar have a huge divergence so what can we make of this Forex FACTORS: ( Note: there are other factors that do affect the USDX index and other correlations but are not critical to short-term trading) - XAUUSD ( GOLD) - XBRUSD (BRENT OIL) & XTIUSD (WTI OIL) - Interest Rates for US,...

developeralgo222 Updated 

Here is a bigger picture : The Major EURUSD Downtrend started in March 2008 until now. we hit a Double bottom at around 1.0450 Area and bounced a bit but the major upper line of the major downtrend is being tested again. NOTE: EURO Zone is an Export oriented zone. They need a lower EURO for them to be able to sell their products outside EU. Chinese companies...

developeralgo222 Updated 

Take you profits when you can. its been a beautiful run. On Daily , H4 and H1 charts Sell EURUSD Entry : 1.1760 TP Exit : 1.1400 SL Exit : 1.1960 Reasons: - GOLD(XAUUSD) is overbought ( correlated with EURUSD at around 60% ) - USDX is oversold - US Markets ( Dow, NASDAQ, SP500 ) are starting to stall and move side ways and tends to be correlated with...

developeralgo222 Updated 

For the time being King Dollar is naked , stripped and stumbling like a drunk trying to hold on to anything. Oh Mighty, do they fall from thy throne. For now King Gold and Queen Euro are ruling even though its temporary. How long can they rule ? take a guess Buy King Dollar during the coming dead cat bounce to 95.00 but then expect another collapse

developeralgo222 Updated 

The GBPUSD has covered huge distance in just 3 trading sessions without any major economic breakthrough other than Dollar weakness across the board. So should we believe that in 3 days UK economy is now shinning beacon of hope. i doubt it. GBPUSD is just taking advantage of the King Dollar Weakness. GBPUSD has COVID-19 still lingering and BREXIT waiting...

developeralgo222 Updated 

EURUSD , Oh EURUSD , Oh EURUSD now where do we go from here ? Looking at it from a Technical analysis point of view 1. we either break the Major resistance above 1.1074 area and enter the 1.1100 region. In this case it will indicate that the sentiment is starting to change and if EURO zone data comes in positive then we can say that we have put in a bottom at...

developeralgo222 Updated 

This is a BREXIT Draft Deal news rally and it can change anytime . if you got it in on the rally you might want to take your profits now and either stay out or Short EURUSD but not GBPUSD. GBPUSD has rallied almost 700 pips in a matter of 4 trading days . That's extremely steep to be sustained even with any major geopolitical or economic news EURUSD jumped over...

developeralgo222 Updated 

BIG BOYS ( Large Hedge Funds, Large Global Banks, Sovereign Funds, Large Multinational Corporations, Large Investment houses ) Information gathered from the BIG BOYS forcasts and analysis show that 1. Forcast for EURUSD to be at 1.08 Level or Below for Q4 2019 and also 1.08 for Q1 2020 and then at 1.10 of Q2 2020 followed by 1.12 Q4 2020 2. EURO Economic...

developeralgo222

After last 2 weeks of US-CHINA trade talks and BREXIT talks, the EURUSD gained over 160 pips and GBPUSD gained over 500 pips to close the week last week. It was due to the Geopolitical talks not EURO Zone economic strength Even though the Data from EURO is showing accelerating weakness, EURUSD was rallying . CFTC data for last week showed slightly decreased Net...

developeralgo222 Updated 

Choose your poison on a weekly basis : Either USD drops to 97.00 - 97.10 region or rallies to 99.70 to 100.30 region US-CHINA Trade wars and Brexit are the Kings now and King Dollar has no clothes . Both US-CHINA Trade and BREXIT talks are positive as per the last check . This issues are positive for EURUSD , GBPUSD and Negative for the Dollar. Now what...

developeralgo222 Updated 

i do expect the DXY King Dollar to have some room to move to the upside in the area of 99.70 to 100.3 . This is the area that BIG BOYs expect the King Dollar to peak and start reversing the trend to Bearish if sentiment towards US-CHINA trade changes ( Time Scope: 0 to 6 months from October 2019) . If not then expect King Dollar to keep on matching forward

developeralgo222 Updated 

EURUSD seems to be stuck in range ( 1.1000 to 1.0958 ) with a rolling top due to US Data starting to weaken and DXY troubles . EURUSD has been rejected 4 times at the top i.e its capped at 1.1000 EURO Zone data is getting worse while US Data is starting to show some signs of weakness from imported Global weakness mainly due to trade wars . ECB wants a weaker...

developeralgo222 Updated 

We have broken the previous May 2017 low of 1.0925 and made a new low of 1.0904 that has not been confirmed. The news from EURO Zone was worse even though US data was good but mixed Expect the EURUSD to confirm 1.0904 on Monday 30/09/2019 by touching it or breaking it, If not then we expect Bulls to push EURUSD past 1.0980 for a more Bullish sentiment. From...

developeralgo222 Updated 

EURUSD spike to 1.1064 from 1.1000 level due to Saudi Arabia Oil Production drop and the NY FED Spike in Overnight REPO rates . This caused a temp drop in the USD but from the BIG BOYS ( Hedge Funds, Banks, Sovereigns ) side of things 1. Fundamentals for EURUSD has not changed as concerns the EUROZONE economies 2. The Overnight NY FED REPO Rates has been fixed...

developeralgo222 Updated 

This week EURUSD has been on a roller coster after ECB Interest rate cut and QE start Shot up to 1.0967 then Dropped to touch the 1.0926 Lows and then spiked up to 1.0979 before finishing it off at above 1.1110. Now that the Speculators have baked their cake and eaten it too after ECB Dance , Have the EURO Zone Fundamentals changed ? Answer is NO, infact things...