This week will be very interesting : We expect US Dollar strength but we know the DXY has disappointed and continued to break lower even after a rally . Can it hold this time ?
3-Hour & 4-Hour RSI & CCI are showing Extreme Oversold levels but the Daily RSI & CCI still have room to move lower for EURUSD to 1.1510/25 Area . What are our options now: well it all depends on the Strength of the US dollar
Recall: We broke our major Support in 1.1720/30 Area and now we are in the 1.1580/99 area . The Collapse of EURUSD was swift and brutal as expected but now let's see what the EURUSD Bulls ("Chickens" or Dollar Bears) Can do
OPTION A: ( if US Dollar (DXY) Weakens)
EURUSD LONG ( BUY )
Entry : 1.1560 to 1.1618
Exit: 1.1790 to 1.1815
OPTION B: ( If US dollar (DXY) strengthens )
EURUSD SHORT ( SELL )
Entry : 1.1600
Exit: 1.1508/25
3-Hour & 4-Hour RSI & CCI are showing Extreme Oversold levels but the Daily RSI & CCI still have room to move lower for EURUSD to 1.1510/25 Area . What are our options now: well it all depends on the Strength of the US dollar
Recall: We broke our major Support in 1.1720/30 Area and now we are in the 1.1580/99 area . The Collapse of EURUSD was swift and brutal as expected but now let's see what the EURUSD Bulls ("Chickens" or Dollar Bears) Can do
OPTION A: ( if US Dollar (DXY) Weakens)
EURUSD LONG ( BUY )
Entry : 1.1560 to 1.1618
Exit: 1.1790 to 1.1815
OPTION B: ( If US dollar (DXY) strengthens )
EURUSD SHORT ( SELL )
Entry : 1.1600
Exit: 1.1508/25
Comment:
Well the EURUSD rose this morning to 1.1620s and then dropped back to 1.1570s Area. An indication that EURUSD Bulls do not have the Teeth to bite yet. They are just barking dog without any teeth at the moment
Comment:
its time to pick your medicine !!!
The EURUSD is dealing with
-- The Italian budget saga and the italian Drama queen politicians. They want free lunch and drive Ferrari or Lamborghini to work, what a joke. This is EURUSD Negative. I have been saying ITALY is basket case for a long time.
" There is No Free Lunch in the Financial Markets" Yet ITALY wants Free Lunch plus a Lamborghini plus Designer clothes and a Huge House. The Italian Politicians need to get their act together. They can't even agree on anything.
-- NAFTA deal creating a big US Dollar Strength
it looks like EURUSD might test lower areas of 1.1550/60 to 1.1500/25 if this Saga continues for this entire week.
The EURUSD is dealing with
-- The Italian budget saga and the italian Drama queen politicians. They want free lunch and drive Ferrari or Lamborghini to work, what a joke. This is EURUSD Negative. I have been saying ITALY is basket case for a long time.
" There is No Free Lunch in the Financial Markets" Yet ITALY wants Free Lunch plus a Lamborghini plus Designer clothes and a Huge House. The Italian Politicians need to get their act together. They can't even agree on anything.
-- NAFTA deal creating a big US Dollar Strength
it looks like EURUSD might test lower areas of 1.1550/60 to 1.1500/25 if this Saga continues for this entire week.
Comment:
EUR/USD Technical Levels
Resistance:
1.1650 (Sept. 19 low)
1.1643 (50-day EMA),
1.1617 (5-day EMA),
Support:
1.1558 (50% Fib R of 1.1301/1.1815),
1.1526 (Sept. 10 low),
1.1497 (61.8% Fib R of 1.1301/1.1815)
TF TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Strongly Bearish Neutral High
1H Bearish Oversold Shrinking
4H Bearish Oversold Low
1D Bearish Oversold High
1W Bearish Neutral Low
WARNING: PRICE DIVERGENCE on DXY indicating a Reversal might be in the works
Resistance:
1.1650 (Sept. 19 low)
1.1643 (50-day EMA),
1.1617 (5-day EMA),
Support:
1.1558 (50% Fib R of 1.1301/1.1815),
1.1526 (Sept. 10 low),
1.1497 (61.8% Fib R of 1.1301/1.1815)
TF TREND INDEX OB/OS INDEX VOLATILY INDEX
15M Strongly Bearish Neutral High
1H Bearish Oversold Shrinking
4H Bearish Oversold Low
1D Bearish Oversold High
1W Bearish Neutral Low
WARNING: PRICE DIVERGENCE on DXY indicating a Reversal might be in the works
Comment:
The EURUSD has continued to fall to 1.1500 fro 1.1815 and might even extend that towards lower 1.1400s or 1.1300s . The News from US Economy has been very good but EU Economy is mixed and then if you throw in "ITALY BUDGET DRAMA" with Drama Queen italian politicians , You get EURO weakeness multiplied by 3 or 4 times
DXY seems very strong plus the good US Economy news , we will continue to see some EURUSD weakeness for the next few days
DXY seems very strong plus the good US Economy news , we will continue to see some EURUSD weakeness for the next few days
Comment:
Very Disappointing US Job numbers 134K except Unemployment rate is 3.7% instead on 3.8%
Comment:
Let's see how far EURUSD drops with this numbers
Comment:
10yr TBills are rising to above 3.2% which means watchout for the US Dollar
Comment:
ITALY's Problems ---- This is what you get when you have politicians writing the budgets and making garbage promises to be in power.
EUR/USD
Overview:
Last Price: 1.1468
Daily change: -53 pips
Daily change: -0.473%
Daily Open: 1.1521
Trends:
Daily SMA20: 1.1641
Daily SMA50: 1.1597
Daily SMA100: 1.1638
Daily SMA200: 1.1933
Levels:
Daily High: 1.155
Daily Low: 1.1484
Weekly High: 1.1625
Weekly Low: 1.1464
Monthly High: 1.1816
Monthly Low: 1.1464
Daily Fibonacci 38.2%: 1.1525
Daily Fibonacci 61.8%: 1.1509
Daily Pivot Point S1: 1.1487
Daily Pivot Point S2: 1.1452
Daily Pivot Point S3: 1.1421
Daily Pivot Point R1: 1.1553
Daily Pivot Point R2: 1.1584
Daily Pivot Point R3: 1.1619
EUR/USD
Overview:
Last Price: 1.1468
Daily change: -53 pips
Daily change: -0.473%
Daily Open: 1.1521
Trends:
Daily SMA20: 1.1641
Daily SMA50: 1.1597
Daily SMA100: 1.1638
Daily SMA200: 1.1933
Levels:
Daily High: 1.155
Daily Low: 1.1484
Weekly High: 1.1625
Weekly Low: 1.1464
Monthly High: 1.1816
Monthly Low: 1.1464
Daily Fibonacci 38.2%: 1.1525
Daily Fibonacci 61.8%: 1.1509
Daily Pivot Point S1: 1.1487
Daily Pivot Point S2: 1.1452
Daily Pivot Point S3: 1.1421
Daily Pivot Point R1: 1.1553
Daily Pivot Point R2: 1.1584
Daily Pivot Point R3: 1.1619