Razvan

EURUSD - Big Fibonacci Cluster

FX:EURUSD   Euro Fx/U.S. Dollar
1235 21 10
1.3800...seems to be in a very important Fibonacci Cluster, but not only. There are also some rejection line there. Break or fall? I would love a corrective move. What do you think?
Razvan
3 years ago
And the cluster is not limited only at this levels. You will also find a 61.8 Fibonacci retrace of the 2011 downtrend.
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4xguy
3 years ago
Tried to comment earlier not sure it made it. Here goes again just in case. There is a confluence area for sure. It's not only fib confluence but also cyclical indicator confluence as well. RSI, Stochastics, etc. I'll point out that at this moment fundamentals are a little "iffy" though. A test of your lower channel wouldn't surprise me. Thanks for sharing.
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Razvan 4xguy
3 years ago
You made it, thanks for your comment. Best!
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alex.a
3 years ago
Most of the technical indicators are all like that but we must not forget that the US gov. shut period data was embeded last NFP and would be in the preliminary GDP.
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Razvan alex.a
3 years ago
So what do you think, taking into consideration the world economic status?
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alex.a Razvan
3 years ago
In my personal opinion, I wouldn't risk. Rather I would choose the 2nd to do. Wait for the first to be the test basket - I hope you know what I mean. But all depends on one's own risk set, though.
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alex.a Razvan
3 years ago
This coming Friday is the big day. So some might say it will go down but Friday it will go up???
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Razvan alex.a
3 years ago
Why this Friday?
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alex.a Razvan
3 years ago
ADP GDP - Now, Pending Home Sales data in September engulfed the entire year's positive data ~ 2 CFTC IMM report on Friday.
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alex.a alex.a
3 years ago
Sorry, wrong info - not ADP GDP. But 2 CFTC IMM reports.
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Razvan alex.a
3 years ago
Nice, it will be a pretty interesting week, thanks for sharing
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I'm probably going long Dollar on Friday into first week of November. We should see the effects of the US shutdown with October economic numbers being released.
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alex.a QuantitativeExhaustion
3 years ago
In my opinion, until US ADP GDP.
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Very Much Agree! Cluster acted as a magnet. Might brush up against the fib cluster for a few days before dropping. Also, believe dollar will brush up against it's fibonacci support cluster @ 78.89 DXY
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alex.a QuantitativeExhaustion
3 years ago
Perfect scenario ~ It all depends on the psychology of EU members. Less Tourists, Less exports numbers... How much they will buy USD? That is the question.
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alex.a alex.a
3 years ago
Last time Thailand and Japan bought it but who will buy this?
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The Federal Reserve has kept the Dollar in check, just as the BOJ.
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alex.a QuantitativeExhaustion
3 years ago
If this got broken down and continue USD weak, then what would be the consequences? There was a time Euro got above but the reason was US's weakness? I didn't check so I don't know.
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Razvan
3 years ago
1.3700 fell. Fundamentals doesn't look to good for the Euro!
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Razvan
3 years ago
1.3500 was my last target!
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