I know I haven't written much about the EURUSD in recent weeks.
The reason why is that it is a bag of mixed nuts at the moment. The daily chart is full of signals that contradict each other. Which translates into "Don't trade me at this moment."
There has been no clear signals from this pair as to its intention. And it is understandable as to the why. With the world markets watching Fed Chairman Powell make raise rates and the death cross form in the all the major US markets. How could this pair make a decision since both sides of the pond are being slammed? it is safer to stay as near in place as it can.
However, the weekly chart, in the midst of everything (I didn't see it when it occurred because I am not trading EURUSD at this time and I wasn't looking at weekly charts) in the SR levels has one strong negative enveloping bar that basically is calling out like Babe Ruth and saying "When I am done with consolidation and allowing the moving averages to catch up with me. I am going here."
So, I am going to post out PREPARE TO SHORT UNTIL 1.12 (When the Heikin Ashi Swing Indicator give the signal).
The reason why is that it is a bag of mixed nuts at the moment. The daily chart is full of signals that contradict each other. Which translates into "Don't trade me at this moment."
There has been no clear signals from this pair as to its intention. And it is understandable as to the why. With the world markets watching Fed Chairman Powell make raise rates and the death cross form in the all the major US markets. How could this pair make a decision since both sides of the pond are being slammed? it is safer to stay as near in place as it can.
However, the weekly chart, in the midst of everything (I didn't see it when it occurred because I am not trading EURUSD at this time and I wasn't looking at weekly charts) in the SR levels has one strong negative enveloping bar that basically is calling out like Babe Ruth and saying "When I am done with consolidation and allowing the moving averages to catch up with me. I am going here."
So, I am going to post out PREPARE TO SHORT UNTIL 1.12 (When the Heikin Ashi Swing Indicator give the signal).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.