IamJeanPaul
Long

EURUSD LOOKING FOR THE NEXT IMPULSE HIGHER

FX:EURUSD   Euro / U.S. Dollar
EurUsd is on my watchlist for a bull swing higher towards recent highs and maybe a little bit more.
I prefer to wait and not to jump in while the market is moving aggressivley lower like now.
Lower timeframes (15min, 10min, 5min) can give clues when the downmove is slowing, or a change of direction is happening. So be patient and dont rush into a position.
Price is secondary, i see people buying from 0600 looking for that move higher and losing, but fact is that price is secondary, markets only start to go higher when the sell pressure is over, and order flows are dried out, you have to be selective when trading.
In other words, when there is no one more willing to sell the market will turn.
Now where is that ? No one knows for sure all you get are clues from the price action... thats why you should always be calculating a fail scenario and have a decent risk approach.

Blessings to you all.
Comment: Still waiting, we need a news event or a fundamental impuls to get a change of direction. We will see a move either in all EUR pairs (if the news is EUR related) or we will see the impulse involving all the USD pairs (if the news is USD related).
As long as we dont get this, EUR is seems under pressure on all pairs, and i am standing on the sideline.

Blessings to you all.
Comment: Ok, thats what i wanted to see, yesterday i drew this on the chart. We have a fundamental change and news that is effecting all the EUR pairs across the board. I am now ready to buy EUR on promising setups with a stop below 1.0500 but i will await the FED Minutes first in a couple of hours befor getting involved.


Comments

Beautiful forecasted!
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