The price of gold experienced a significant oscillation, reaching $1,880 and then dropping to $1,860 after an initial rebound. The Relative Strength Index (RSI) indicates excessive sales, suggesting the need for consolidation before any further declines. Factors such as the potential real estate crisis in China and the risk of a partial US government shutdown...
Setup to go short on eur/usd, asian manipulation, bearish market structure on m15, imbalances to be filled below, counter trend trade but valid.
First thoughts on EURUSD seeing London play out now is that we are pretty over extended and in a deep premium. Price could fall here to lower prices / supply on the 1hr. We will see.. GOOD LUCK TODAY $$$ :)
DXY seems to have broken out of range and showing signs of strength matches my view on GBPUSD Currently which I have tagged below.
I predict that EURUSD will move up for a few more days. But you need to confirm further because the euro is still moving sideways. Don't forget to use the set up that suits your trading style supply area 1.157 - 1.161 demand area 1.119 - 1.125
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Europe is losing the coronavirus battle again. Spain, Portugal, France, etc. They have relapsed into high levels of infected people after having spent a very relaxed summer recovering. A double-top channel has kept the price of the euro in continuous consolidation. It seems to me that on Monday it will fall again ... and then it will bounce again towards 1.20.
Pair just broke out Asian session and day high. Pair is moving below it's ADR with 70+ pips left on the table. Timing is good since we are not yet inside NY session and by London fixing time we might get 30-40 pips of upside. Who missed the breakout of daily high, can wait for pullback after leg is completed. I expect targets within daily ranges, near 1.089...
I explain why there is a long position in this drawing on my probability estimates - taken from technical indicators. Note carefully the word 'controlled loss' means stoploss which means that's money one is prepared to lose. I never avoid talking about losses, as it is the most important thing to control in trading. Disclaimers : This is not advice or...
Worth noting that EURO moves in tandem with GOLD (XAU) quite closely. Euro is sitting at a strong weekly liquididty zone, buyers are pushing it up even tho intraday says sell. It's worth backing the big movers and working off a larger time frame. Increasing sl and tp / reducing reward to compensate for what could be a bit of sideway market movements. Dollar has...
EURUSD the penetrated lower bound on recent price action with the initial legs of a forecasted expanded flat being invalidated. Now we should be looking for the termination of the current flag on successful break of 1.14500 and allow prices to rally north straight into the downward trendline connected from the yearly highs. Price action developments have been...