IvanLabrie
Long

EURUSD: FOMC update

FX:EURUSD   Euro Fx/U.S. Dollar
757 25 27
EURUSD             has confirmed my thesis, and is now rallying after the G20 meeting key level held.
We have to see if the Brexit key level is breached, which if it happens, will send the Euro             to the 1.1163 handle, and perhaps slightly higher.

Additionally to these developments, derived from price action around fundamental events, we can also observe the 'Time at mode' signals on chart, and come to the conclusion that we will see rallying from here onwards, since the recent daily setup failed to proceed to the downside. By this week's close, the weekly trend will turn up if we see a close above last week's high, so, we'll most likely observe a counter trend rally, from the perspective of the monthly, which seems to be the timeframe in control in EURUSD             .

On the topic of the monthly, which -if we favor top down analysis- is the timeframe in control of the main trend, and thus, the most spectacular and long lasting moves, if the month closes under 1.1216, there will be confirmation of a downtrend that aims for prices below parity in the long term. Hold longs for the time being, we will flip short at the top.
I'm long EURUSD             from 1.1022, with stop at 1.0952.

Check out my updated track record here: http://pastebin.com/6CyyqnPT

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Cheers!

Ivan Labrie

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We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.


Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise             directly or indirectly from use of or reliance             on such information.
Comment: $EURUSD had difficulty crossing the Brexit key level on chart but is now marching towards the next key level above:
snapshot

if it breaks 1.1163 with confidence it'll approach the next daily swing high where a ton of stops reside, or potentially the monthly mode at 1.1216
Comment: Euro pegged against the G8 key level. If it breaks under today's low after the close it could be a short.
Comment: I entered short at the monthly mode resistance, 1.1215, half risk and stop above 1.1425.
Comment: Price found support after hitting the Brexit key level. I got out of shorts but didn't go long this time. I'm looking to see how the Euro acts when approaching the levels above. I'm interested in EUR cross pair trades though.
Always Glad to see your analysis!
Thank you!
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About 1.1216 We have a hope we can close above it. Although just 2 days left, but we can expect a surprise from EU ending the month!
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IvanLabrie PRO MetalCruisers
Most likely a brutal short squeeze rally.
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Any update on your view? I got out of longs! Not looking so well!
I could try to get back in at 1.1000 around there!
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IvanLabrie PRO MetalCruisers
It won't drop down that low again is what I think, and if it did I wouldn't want to go long.
It's a daily setup so I'd rather give it at least 3 days if it's working (which it is)
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wonderful..!
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Thanks. We added to longs on the dip yesterday, at 1.1072, first entry from 1.1022. Both have the same stop at 1.09519. Closed 2/3s at 1.1155, will hold the rest and exit at the end of the day and flip short to rejoin the monthly trend.
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im short now as well since we are sitting on monthly pivot
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IvanLabrie PRO Alex.Singletary
Cool, good luck mate.
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Kadhijah IvanLabrie
happy +pips to you sir.. and well, I'll keep watch your G8 key levels (for possible counter).
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Thanks, these are just some of the levels we can use, based on fundamental information. Also good to monitor ECB and FOMC day price action for key levels too.
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snapshot
got it as well mate
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IvanLabrie PRO Alex.Singletary
Great.
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MetalCruisers IvanLabrie
Hello, Ivan!
So great!
I managed to Re-Buy on 1.1075 after my analysis! In huge profit now!
Willing to see where it will close!
+1 Reply
IvanLabrie PRO MetalCruisers
I'm out of longs, shorted half at 1.1165, will add if we break 1.1186.
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MetalCruisers IvanLabrie
Hello, Ivan!
Nice call on Adding the shorts on 1.1186 break! It got down from this area!
I think we have nice opportunity to go in some long term sell next week on this pair!
Although It could still make it to 1.12xx
But my sentiments are showing that price should be back to 1.0953.
Thanks.
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IvanLabrie PRO MetalCruisers
Yes, you're right, I got out of my short ahead of the ECB news though and I will reenter next week.
Cheers!
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MetalCruisers IvanLabrie
Cheers, Ivan!
Like your trading, you know what you are doing for sure!
Don't forget to update Idea next week on this! Hopefully my view will be the same!
Happy weekend bud!!
Cheers.
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IvanLabrie PRO MetalCruisers
Sure thing, thanks for your comments. Have a nice weekend!
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Hello, Ivan!
I already did my analysis, and hopefully you an throw an eye on it!
I totally agree with you on EU shorts starting now.
Everything in description with screenshots with levels!

Cheers.!
EU | Afterglow | The Sons of Fibonacci. August
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Any update on this Ivan? Have something on radar? I believe it is still selling ahead from now.
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EURAUD looks good for a Long. Your opinion ?
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Hi, EURAUD is tracing a downtrend, so not a good idea in my opinion.
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Hello, Ivan.
Seems that Bulls took over the game. Posible 1.14 1.15? I smell Buying starting from next week.
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