Kumowizard
Long

EURUSD - Update / Heikin Ashi warning signal on daily

FX:EURUSD   Euro Fx/U.S. Dollar
1346 8 9
As I wrote yesterday, EURUSD             may get stuck in a range. ( pls             see link below)

Retail Sales did the job!
Heikin Ashi quantification gives early warning signal for bullish reversal from range bottom. Watch for close, indication may be a green candle for tomorrow.
Recent sellers will likely start to worry and stop above Kijun Sen at 1,0755

4H time frame setup is turning into neutral from bearish . 1,0700+ will likely act as bearish support first. More bullish action             is expected if it goes through 1,0735-1,0780 zone.

Try to buy (add to positions) on dips if you see no lower low on 4H.
Heikin Ashi candles go green in a row on daily. Price on 4H is back above previous horizontal key supp/res line and trying to break above the Kumo. Hold your longs still!
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Very nice work! My analysis of supply and demand backs up your technical analysis. It seems like the market is getting ready to retest the 1.10 resistance.
Increase of Buying Pressure in the Euro
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Some idea: if I try to think reflexive, Mr. Draghi may not be as uber dovish this time as he normally is, and as mkt expects him to be. I think he will communicate rather neutral, saying that everything is on track, QE works fine, etc.
Why do I think this? ECB has already faced a lot of frontrunning during last 10 months both in FX and on the bond mkt. They start to have a serious problem with eligible bonds to buy. They need to "chill down" mkt a bit.
This way I expect EURUSD to pop up after some natural volatility during press conference.
+1 Reply
I think you should also pay attention on dollar index as i am writing this comment it is trading at support levels on daily chart if support breaks your call would rock but if it doesn't there is a reason to worry
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well, yes DXY (USD Indx) is almost like an inverse EURUSD as in the Dollar basket EUR has the biggest weight (over 70 % if I am right), and the rest of ccys are smaller weight. So the two move approximately with same pace, except when stg major happens in JPY or GBP.
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IvanLabrie PRO Kumowizard
50% is eurusd.
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Nice! I been entering and getting stopped out for the last two sessions rather than waiting for better entries. Of course, now that I'm not in, my first target has been exceeded by a mile... Oh well, Mama said there'd be days like this...
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You need to improve either your timing, or your money management. Since timing is more difficult, I suggest you to trade in smaler size with wider stop. E.g. in case of counter trend swing position my risk management rule is to never start with bigger than 0,5 trade unit. In case the pull back signal is confirmed, then I add 0,5-1 unit more. When I enter a trade in line with the major trend, then I start with 1 Unit and I add 1 or 2 more later. Basically trades in the trend direction are always better risk reward and Price tend to move a lot more than in case of pull backs.
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