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EUR/USD Weekly Analysis: Short Opportunity with Dual Setups Traders, Expanding on our EUR/USD analysis, I've integrated two distinct setups: Significant Support: Daily chart analysis reveals robust support levels. Bearish Trend: The LR channel indicates a prevailing bearish trend. Key Shorting Zone: A notable cluster formed by the Weekly Pivot and Last Week's POC presents an excellent opportunity to consider short positions. Considering these setups: The first setup entails a SL placement just above this week's R1 and last week's reversal point. The second setup involves a SL positioned just above the POC. Remember, these plans are contingent upon market conditions and may adapt in response to surprises from Wednesday's EURO CPI release and FED Chair Jerome Powell's speech. Stay adaptable and remain vigilant in your trading endeavors. Best regards,
Short
by AliSignals
"Equal Weighted"; More-or-less Ironic at This Point.🐻Keep in mind, it took $7 trillion in fiscal & monetary intervention to get to this point. Pick your horses! Bubbles defy reason and this historic set of liquidity injections have created the illusion we can print ourselves out of the current mess and as long as the liquidity equation retains control the asset bubble can grow, grow to become ever more of a risk to the economy’s long term health for nothing good comes out of a bubble bursting.
SP:SPX
by TayFx
8
SPX: A Technical Break Could Get Bloody🩸 Today's selloff had many interrelated factors, of which came together to form what looks to be a hint of conviction, suggesting further price declines to the downside for most major benchmark's in the U.S. Most people who follow my SPX charts assume that every chart represents a new trade, specific in the time and moment. In reality, this isn't true and I use the SPX as a representation--even more so a manifestation-- of risk-appetite here in the U.S. Yes, there is a direct correlation between a market's range tightening, and the subsequent major moves to either the upside or downside. With the Dollar, it has shifted in what it represents. It's sensitivity to risk trends has improved. Looking at Emini futures over the DXY, we can take away it's not the only safe haven in the market. In fact, in more moderate terms--it's responsive in terms of risk-on, risk-off. A break below the 200-day MA for the SPX, can and should be joined by the Dax (DEU30), with currently active shorts posted on my page over the last few weeks. The price to watch for a quick-fall out of the most speculative risk-asset in the U.S. going into tomorrow's GDP number will be $2,965.66
SP:SPX
by TayFx
18
USDCAD approaching support, potential bounce! USDCAD is approaching our first support at 1.3056 (horizontal overlap support, 61.8% fibonacci retracement, 61.8% fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 1.3177 (horizontal swing high resistance, 100%, 61.8% fiboancci extension, 78.6% fibonacci retracement). Stochastic (55,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill