Akil_Stokes
Long

EURUSD: What's Going On With The EURO???

FX:EURUSD   Euro / U.S. Dollar
I wanted to title this post What’s Going On With The Euro? Because I honestly don’t have a clue. With the lack of movement in the markets, it’s been really difficult to get a true read on certain pairs since they just aren’t moving too much. With no major news out today and CPI             & FOMC coming tomorrow I’m expecting more of the same today.
None the less, it’s still important that I go through my I.P.D.E. process and at least make some predictions so that I have some sort of structure (no pun intended) going into the trading day.

As I always do with my analysis, what I have drawn on this chart is just a series of harmonic moves and Fibonacci extensions, inversions & retracements. They create a nice zone between the 1.1020-1.0980’s level. With that being said there’s no real level of structure at that level that gives me confidence in a reversal at that area so I’m not actively looking to get long there from a swing traders perspective. Could be a good day trading option if we get the right type of reaction once we hit it.

Anyway we’ll see what happens and hey, if you want to see me do this analysis live, I’m testing out a Youtube Live Stream today at 8am New York time. Here’s the link (I think) https://www.youtube.com/watch?v=SfiGYUGWiuM but if you’re subscribed to my youtube page you should be notified I believe (based off of the test this morning).

Akil Stokes
Chief Currency Analysis at Trade Empowered
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Awesome analysis Akil !!!!
If there is anybody that has taken the Advanced Pattern Trader course of Jason and Akil, please follow me or leave me a message and i will follow you.
Love sharing Ideas and 2 Brains are better than 1 hehe and so are 4 eyes to recognize a pattern better than 2 eyes!!! Good trading people and always stay positive ;)
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It looks to me like the EURUSD is at the 200 day moving average just above the daily pivot point and it has tested the 200 MA 3 other times over the last 7 days. Could this mean a potential breakout for the bulls?
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Good morning Akil!! Your help is amazing!!
I would like to ask you if there is a site, a blog or a secret corner which gives a prediction if the forecast of the releasing news will be correct.
+1 Reply
Akil_Stokes PRO michalis.sideris.9
There are services you can pay for that will give you the release seconds before they hit, but I'm not sure of what they are.
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Akil_Stokes PRO michalis.sideris.9
Just remember good news doesn't always mean a good reaction, if you were thinking about trying to play the news release game
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I think I can see Gartley pattern here
+1 Reply
IvanLabrie PRO leszekstanislaw
The decline has been really erratic.
I'm not doing anything until tomorrow, I got out of all trades.
It's best to stay aside until we get clear signals.
+1 Reply
I right with you on that. No need in throwing any money way just for the hell of it. We'll see if the CPI and FOMC can clear things up tomorrow
+1 Reply
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