Buy-sell-signals
SHIBUSD UPTRENDHere we are again guys ... another triangle breakout and Shiba Inu seems to be ready for run. I think there is chance for move to 0.00000979 and even higher, and I will be adding another position if the pullback to the BUY LIMIT level occurs. Check the related SHIB idea to get the bigger picture. 🦴🐕
Enter the market with absolute risk management
ENTRY: local high @ 0.00000842
SL: local low @ 0.00000605
TARGET: height of the triangle projected from midpoint of the local range (BUY LIMIT - SL) @ 0.00000972
INVALIDATION: when SL level hit
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EUR/USD for July 05: FOMC Meeting Minutes Key for DirectionEUR/USD Daily Update for July 05. Here is what you need to know to trade the pair today.
FUNDAMENTALS:
A strong gain in jobs but rising unemployment rate and unchanged wages in the US led to some selling pressure in USD, but profit-taking ahead of the extended weekend and US holidays was likely the key driver of US weakness on Friday. Look for a short-term correction, but the direction for USD will likely continue to be bullish.
In the euroarea, wories about the new Delta virus variant and softer German PMIs could extend the downtrend in EURUSD. The FOMC Meeting Minutes on Wednesday will be a key event for the future direction of the pair, as markets will scrutinize how Fed hawks and doves are arguing their cases for a potential rate hike in 2022. For now, there is little reason for markets to lower their Fed hiking expectations.
Latest Headlines:
USD News:
US Dollar Index remains on the defensive near 92.20
US Dollar Index Price Analysis: DXY probes rising wedge breakdown above 92.00
US inflation expectations fade recovery moves
Fed and ECB events to keep an eye on this week
EUR News:
EUR/USD to resume its falls amid covid worries and a rethink about the Fed's moves
Eurozone Sentix Investor Confidence improves to 29.8 in July, misses estimates
Eurozone June final services PMI 58.3 vs 58.0 prelim
Germany Markit Services PMI came in at 57.5, below expectations (58.1) in June
Germany Markit PMI Composite below expectations (60.4) in June: Actual (60.1)
Upcoming Market Reports:
Here are the most important market reports for EUR/USD to follow in the coming days (all times are UTC timezone):
Monday at 12:00: USD Bank Holiday
Tuesday at 09:00: EUR ZEW Economic Sentiment (Expected: 79.0 , Previous: 81.3 )
Tuesday at 09:00: EUR German ZEW Economic Sentiment (Expected: 75.0 , Previous: 79.8 )
Tuesday at 14:00: USD ISM Services PMI (Expected: 63.9 , Previous: 64.0 )
INTERMARKET:
2-year yield differentials point at further downside potential in the EURUSD pair.
SENTIMENT:
CoT:
The net positioning in EUR among leveraged money remains bearish, although this category of traders reduced their bearish bets in the previous week. USD positioning (as measured by the value of total contracts) is less bearish after the Fed adopted their hawkish stance, although the majority of traders are still short on the currency. Watch out for a short-squeeze here. Positioning is bearish for EUR/USD.
TECHNICALS
The pair broke above a longer-term bearish trendline on the 1-hour chart, although on quite light volume. The overall trend remains bearish until we see a break above the 1.1974 level, which also acts as a key resistance to the upside.
Other levels to watch:
Major resistance: 1.1974
Minor resistance: 1.1900-10 (61.8% Fib)
Minor support: 1.1852
Major support: 1.1805 (last week's low)
== SUMMARY ==
From a fundamental standpoint, the pair has potential to move towards 1.17 during the week, but a short position can only be established if we get a clear signal that the bearish trend is resuming.
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MATIC BUY/Sell ideasMATIC is rising according to last growing pattern (15min. 14.05.2021 - 16.05.2021)
Horizontal lines shows when I sell (red) and when I buy (green).
Time For Splunk To Bounce Up?Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated BUY on May 4, 2021 with a closing price of 119.41.
If this instance is successful, that means the stock should rise to at least 120.045 which is the bottom of the larger green box. Three-quarters of all successful signals have the stock rise 3.1735% from the signal closing price. This percentage is the bottom of the smaller green box. Half of all successful signals have the stock rise 5.92% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock rise 8.0325% from the signal closing price which is the top of the smaller green box. The maximum rise on record would see a move to the top of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 50 trading bars after the signal. A 0.4% rise must occur over the next 50 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 18.0 trading bars; half occur within 36.0 trading bars, and one-quarter require at least 46.0 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
All movement could technically be over after the second bar from signal as the larger green box was breached and followed by a retreat. If this is not the case, it is interesting the close today occurred in line with the bottom of the smaller red box, meaning the drop could be over and a week or two of gains may start as early as the open tomorrow.
All statistics and the full analysis are available for free as always at the site below.