EURUSD 25 Sep 2020 - Well this is Friday and day is interesting
Not legal and financial advice; any information provided here is only the personal opinion of the author.
Cheers!
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As you can see everything more or less clear.
Market moods to go further south, but the pace was a bit in a hurry.
I wonder who is leading the markets today?
Old good scheme - bonds - stonks - forex are not working at all today?
Regarding bonds and stonks - everything clear - we can stamp manipulation.
Forex ? - merely the same thing
As you may be remember last FED press conference, Powell was dovish, but not enough to the markets and without FOMO or something else. So it was clear that no new stimulus till the end of the year. But what we got instead of free fall? We got spike and bullish pressure within eurusd for two days. Whales where talking about corporates demand while by themselves with all hedge funds offload longs. Then teasing and we got straight free fall from 1.1867 till 1.1627... Nice, isn't it?
Market moods to go further south, but the pace was a bit in a hurry.
I wonder who is leading the markets today?
Old good scheme - bonds - stonks - forex are not working at all today?
Regarding bonds and stonks - everything clear - we can stamp manipulation.
Forex ? - merely the same thing
As you may be remember last FED press conference, Powell was dovish, but not enough to the markets and without FOMO or something else. So it was clear that no new stimulus till the end of the year. But what we got instead of free fall? We got spike and bullish pressure within eurusd for two days. Whales where talking about corporates demand while by themselves with all hedge funds offload longs. Then teasing and we got straight free fall from 1.1867 till 1.1627... Nice, isn't it?
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I want to tell you more, but need to run... will be back asap.
So, regarding tech picture, we have sell level at the middle of the channel around 1.1724-34 followed by 1.1770/80 and key level at 1.1806
If it is further south watch first resistance, the price shud not go above... If we get back to 1.1806 it wud be already a lot of questions, why we can even get here with such extreme market moods.
So, regarding tech picture, we have sell level at the middle of the channel around 1.1724-34 followed by 1.1770/80 and key level at 1.1806
If it is further south watch first resistance, the price shud not go above... If we get back to 1.1806 it wud be already a lot of questions, why we can even get here with such extreme market moods.
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I suspicious about this usd strength a bit due to HF wanna buy at low, but retail traders are still massive short... rarely seen that they are collecting money instead of hf. I'm not selling eur atm, better wait for 1.1720-30 at least, much better 1.1770-80 or even 1.1806-12 ... :) so that s/l will be tiny in case this is all trap for retail.
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Just to make it clear, I do not sell lows and buy highs, usually I fade them. Still way to go till elections and we will see show Trump/Powell/Mnuchin and other cappuccino with teasing both sides. Eur/usd off highs almost 4 big fugues, HF plans was healthy correction till 1.15 and new wave up as I remember... Something changes?
Retail still short, it was a chance to cut everyone, but 1.20 holds. It was miracle frankly speaking. Now situation changes 360 and everyone love usd to be higher.
Stonks nsdq mini futures corrected 15 pct from the highs and it is already point to think about technical bounce... I do not see stonks market to be higher, but still a way to go till elections and all this noise about fiscal stimulus can be brought back and we will see usd lower again with everyone and his mom aggressively buying usd... Very dangerous as retail already long in usd, it will be double the position or triple the position above normal risk and 1.20 will not save us all already, we will climb till 1.25-27 before exhaustion. Yesterday thoughts and today I just look how this is developing. Saying this and now you can understand my logic behind not to sell at any price to chase usd higher.
Retail still short, it was a chance to cut everyone, but 1.20 holds. It was miracle frankly speaking. Now situation changes 360 and everyone love usd to be higher.
Stonks nsdq mini futures corrected 15 pct from the highs and it is already point to think about technical bounce... I do not see stonks market to be higher, but still a way to go till elections and all this noise about fiscal stimulus can be brought back and we will see usd lower again with everyone and his mom aggressively buying usd... Very dangerous as retail already long in usd, it will be double the position or triple the position above normal risk and 1.20 will not save us all already, we will climb till 1.25-27 before exhaustion. Yesterday thoughts and today I just look how this is developing. Saying this and now you can understand my logic behind not to sell at any price to chase usd higher.
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