Euro / U.S. DollarEducation
EURUSD : What I learn so far (Part2/3)
Updated
This is a continuation of my earlier post. Do have a look at the earlier posting if you have not.
The BIGGEST question for all traders now is where EURUSD will move when it breaks out of the current horizontal channel. This will also answer how DXY will move.
As traders, we must acknowledge that this business we are in is highly unpredictable.
Always remember that price move for a reason/s. While we may not know such reasons, we must at least anticipate its movement based on TWO available information at hand. They are VOLUME and PRICE ACTION. Combining these two gives you a fairly good indication of how price will move.
I will anticipate that price will be ranging until the release of the 4Q2021 GDP numbers on 27 Jan 2022. But I will say that most of the bigger market participants had already made up their mind now.
Happy trading.
P/S : As always, do not just believe what I say. Use your common sense.
The BIGGEST question for all traders now is where EURUSD will move when it breaks out of the current horizontal channel. This will also answer how DXY will move.
As traders, we must acknowledge that this business we are in is highly unpredictable.
Always remember that price move for a reason/s. While we may not know such reasons, we must at least anticipate its movement based on TWO available information at hand. They are VOLUME and PRICE ACTION. Combining these two gives you a fairly good indication of how price will move.
I will anticipate that price will be ranging until the release of the 4Q2021 GDP numbers on 27 Jan 2022. But I will say that most of the bigger market participants had already made up their mind now.
Happy trading.
P/S : As always, do not just believe what I say. Use your common sense.
Note
Recent price action indicates BUYER in control. All available supply are immediately snatched up within 1.128 - 1.132. Buyers will let price drop (low volume) to buy cheap. Price drop + low volume = absence of sellers.
Usually, the big players will accumulate slowly to keep the market steady and unaware of their intention. But it seems to me now the Buyers are very active. We should be expecting very big moves soon.
Be careful as EURUSD can still move down. Always monitor the Daily Supply & Demand.
Trade closed: target reached
Let's congratulate ourselves.
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.