EURUSD sold off perfectly as per the path given, trading below the OP and PZ before PPI resulted in the flush, breaking through all the levels. Price action is bearish, looking for further downside, though not discounting a possible pullback first. But overall, bias is to the downside, looking at 1.0833 and 1.0799 as possible targets.
GBPUSD worked out good, was wrong on the level to go short but the short from higher gave a better opportunity and we got a good trend day all the way to move down to close near the lows. Based on the bearish price action, looking for further downside for today. Price has drifted down, though a pullback to the PZ will, IMO, a good opportunity for short. 1.2677...
I was bearish EURUSD but price was held perfectly at the PZ and strong level and market just moved up to the level above. While I ma wrong on the direction, not shorting when PZ and level holds would keep one out of the wrong direction. Anyway EURUSD is strong but overall I am bullish USD for today (bullish USDCHF and bearish GBPUSD especially). And after...
I am looking for a move lower for GBPUSD yesterday on rejection off the 1.28 strong level. GBPUSD did close slightly higher but overall GBPUSD is much in a tight range yesterday and GBP is weak. Overall, it is anyone's guess what would be the next direction but regardless, trading based on the levels would work. But I would say that, I am looking for 1.28 to hold...
GBPUSD is weak and the algo levels worked perfectly, with price capped at PZ and selling off to below support, before price found support and closed near the mid point. IMO price action is bearish and points to further downside, especially with the up move toppish here. Looking for 1.2801 to hold for the downside. 1.2759 wis a strong support and yesterday's low...
Algo levels worked perfectly yesterday as both the lows and highs for the day for EURUSD were perfectly given by the levels. Lots of opportunities on both longs and shorts. EURUSD closed with a doji candle which is some sort of indecision. TBH yesterday's CPI data is hotter than expected but not a lot; thus market did not really care. But IMO, price action for...
EURUSD made a nice PZ to support level move yesterday, before price found support and is now drifting higher. The bounce off the lows yesterday is a strong level, and market gave a strong bounce. Price action yesterday is bearish and point to further downside, but today, EURUSD opened and started to move up first. TBH I have no strong views of the next direction....
GBPUSD's plan worked perfectly yesterday, a move from PZ to level below then bounce. It is a strong support and price is bouncing off the level (as did other currencies) and price is now at the PZ. As what I shared for EURUSD; the sell down last Friday is off a strong level, the bounce off the lows yesterday is off yet another strong level. So in a way, price is...
Unlike the other currencies, GBP is somewhat stronger, closing Friday with a rather strong green candle. Based on price action, it would be a long for GBPUSD but as I am bullish DXY for now, if I were to long GBPUSD, it would be from a lower level IMO. If GBPUSD trades below PZ, I will not be interested to be long IMO, not until 1.2807 or 1.2759 to look for...
Algo levels worked perfectly on Friday, capping the lows of the day (PZ) then rallying up to above double resistance, capping the highs before closing near the mid of the range. Weekly price action points to a possible top and daily candle also point to downside for today. As long as PZ hold, look for further down to 1.0919 and 1.0903, both strong levels, and...
GBPUSD rallied higher yesterday. While I was wrong in my direction, but as shared, look for shorts below PZ. GBPUSD broke above PZ is a signal to get out. And market gave a perfect re-test of PZ which was an opportunity to go long and it gave the rally to the above resistance. Similar to EURUSD, GBPUSD is now at a strong resistance zone above. Make or break? For...
I was wrong on EURUSD move yesterday; was looking for a move lower on rejection off the PZ but instead EURUSD re-tested Tuesday's low, held perfectly by the BZ given, before staging a range day. It seemed like BOJ is selling USD as an intervention as USDJPY is coming down. With yesterday's bullish close, one would expect further upside. Not wanting to fade the...
Yesterday's levels given worked perfectly (). I was looking for a move lower then rally up to 1.0871. Price ranged perfectly between the two levels given before the US data release rallied EURUSD to my price target. It did not hit my buy level but the price target, as mentioned before can be an opportunity to take the trade in the opposite direction. As it...
Similar to EURUSD, GBPUSD was much in a range until US session when it rallied on data, but failed and came down. This down move continued to the Asian session now. TBH, based on price action, I would say that GBPUSD is more bullish, indicating upside for today but market is reacting differently. If I were to look for shorts, EURUSD would likely be a better...
I was looking for a move lower for DAX yesterday and we got the move (). Levels worked perfect despite the somewhat choppy movement (DAX was strong despite weakness in the US indices). The strong level below held perfectly while the level above also provide a good short during the US session and mentioned in the group chat. If I look at the daily candle, price...
Levels for NDX worked very well yesterday especially the OP and PZ. We saw multiple possible trades at these 2 levels (lots of opportunities), we got the break of OP, sell to PZ, re-test of OP before the final flush, and the levels work exactly, good for 300 points. 18139 was my price target for yesterday while market closed at around 18221. Price action is...
Yesterday I was looking for EURUSD to test first resistance at 1.0857 which is the level to watch for a possible rejection for a lower high, or a move higher. Indeed, 1.0857 worked good for a 15 pips sell off the level. However, after a double re-test, EURUSD moved higher. Still it would be a breakeven or a small profitable trade. EURUSD closed green which...
The levels I gave on Friday worked great. I was bearish EURUSD and though it eventually went higher, the level I said to short from gave a 25 pips move, hit the below level then rallied on news to hit above level. That's how the market reacts to algo levels. Do read what I wrote for GBPUSD but overall, Friday is a bullish reversal so going long on a continuation...