FX:EURUSD   Euro / U.S. Dollar
EURUSD has not been on the driver seat for the last 3 weeks , it has been the Mighty King Dollar .

1. The Major resistance at 1.1640/50

EURUSD has failed to break above 1.1640/50 = 5 times :
EURUSD has failed to break above 1.1630 = 4 times
TOTAL = 9 times

1. The Major Support at 1.1500/30

EURUSD has failed to break below 1.1530 = 2 times :
EURUSD has failed to break below 1.1540 = 1 time
TOTAL = 3 times

Considering the number of times EURUSD has attempted to break above the 1.1630 resistance area and it has failed = 9 times since 3rd September 2018 . I am suspecting that we might need to drop to 1.1500/30 Support area to get some good bids .

Currently EURUSD is in NEUTRAL area but i think i can get a quick short .

Quick Short(SELL):

Entry: 1.1600 to 1.1640 if it fails again
Exit 1: 1.1580
Exit 2: 1.1565

If EURUSD breaks above 1.1650 and DXY is below 94.80 continues to decline, then cancel the SHORT and wait for a pull back and go long
Comment: Entered short and closed at 1.1573 because EURUSD bounced again. But failed to breakout of the 1.1640/50 area , it rose to 1.1649 and then collapsed back to 1.1620s area .

DXY is in the 94.77 Area which is where we start asking ourselves if DXY is starting to run out of Uptrend steam
Comment: I think we can reverse this into a another short if it fails again.

Another Quick Short(SELL):

Entry: 1.1630 to 1.1650 if it fails again
Exit 1: 1.1590
Exit 2: 1.1575
Comment: NOTE: The rise was because of Bad US PPI numbers so not that important and the EURO Bulls got an excuse to push the EURUSD upwards to get out of trades.

As traders, we care less about what the EURO Bulls or Bears want. We simply trade the Price Actions and what the market gives . If it says bullish we trade longs and if it says bearish we trade shorts and only follow the MAJOR BIG BOYS not the speculators
Comment: Unless we break and close above 1.1650 while heading towards 1.1670 plus DXY closes below 94.70 on a solid selling.

We are still in a NEUTRAL stand. it can go either way. its the economic and geopolitics that will rule the trading until it gets out .
Comment: The PLAN:

Quick Short(SELL): ----- DONE

Entry: 1.1600 to 1.1640 if it fails again
Exit 1: 1.1580 ( closed all trades at 1.1573 )
Exit 2: 1.1565

Quick LONG(BUY): --- DONE

Entry: 1.1573 to 1.1590 for a bounce
Exit 1: 1.1630/35

Another Quick Short(SELL): --IN PROGRESS

Entry: 1.1630 to 1.1650 if it fails again
Exit 1: 1.1590
Exit 2: 1.1575
-- Cancel trade if it breaks and closes above 1.1650 towards 1.1670 and DXY is below 94.70 heading towards 94.60
Comment: NOTE: DXY is in a free fall for today. Check it out. if this continues for tomorrow cancel the trade immediately
Comment: DXY continues to be sold relentlessly so watchout if it continues . if you already entered the last Short in the plan be ready to cancel it any time if the selling on DXY continues to below 94.70 heading to 94.60

if you have not entered the last trade , please hold on until the selling of DXY is done then enter if EURUSD fails to break 1.1640/50 Area again
Comment: Ladies and Gentlemen,

EURUSD is stuck in a never ending dance with US Dollar index (DXY) .

EURUSD has been trying to break above the 1.1640/50 area since May 2018

while DXY has been trying to break below 94.70 since that time

Something has to give. We have few economic news on thursday and friday . So we should see some movement in either direction.

WARNING: --- any news on the factors below will drive the EURUSD and DXY

--- NAFTA trade talks
--- Tariffs issue
--- Emerging Markets currency turmoil
--- Brexit
--- Any new Geopolitical news

So be on the look out for any news dropping on the line.
Comment: The EURUSD and US Dollar index (DXY) Dance continues, who wins ? its dancing with the majors episode 9
Comment: we have now technically broken the 1.1640/50 area and we are approaching 1.1670/80 resistance . Let's wait for the follow through as it attempts to break 1.1680 too towards 1.1700 .

DXY has also smashed 94.70 and is now at 94.55 and dropping like a stone . its has been completely annihilated after Core CPI prints 0.1% (MOM) and 2.2%(YOY)

Well EURUSD is now turning Bullish if it can hold on and head towards 1.1700 .

Now Draghi, might have something to say because a stronger EURO creates a lot of issues for EU since EU is an export based region.
Comment: EURUSD looks very well supported at the moment around 1.1676. If we have daily close above 1.1670 then we are in Bullish territory
Comment: EURUSD heading to 1.1700 if possible now at 1.1687
Comment: We are now sniffing 1.1700 Level we are at 1.1693 area . Forget about DXY because it turned into a dead log and dropped like a stone.

and then

EURUSD took off and it has not looked back . its still going


Thanks for all the updates too... agree with you on all
Very nice, thanks!
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