SPX continued to be in range; lot of choppy movement since last Friday when it made a new high. TBH, if you ask me, that reversal candle last Friday typically would bring downward continuation and usually quickly but as what we see, the selling is very very controlled, with lots of buying up. Even on Tuesday, market printed a green candle after a bearish candle,...
EURUSD nicely opened at PZ, sold down 50 pips to my price target perfectly and bounced up back to PZ. Super long wick. Up or down for today? Price is at about the 78 Fib; price looks toppish here; I am biased to the downside, looking for the highs to hold, for a down move to 1.0759 strong level.
EURUSD I was not sure about the next move though I was more bearish GBPUSD. I gave some buy and sell limits but all did not hit. But anyway, last Friday's high still held and EURUSD closed lower. Looking for a re-test and failure of PZ for a move lower to 1.0823 strong level and if break,1.0797.
Choppy move for GBPUSD yesterday; another dull day for FX but the strong level I gave for short worked good for a move down to the next support below, where it bounced but a second short would have worked as well. Looking for downside today with PZ holding to target 1.2645.
Similar to EURUSD, I am looking for possible high in GBPUSD formed. GBPUSD made a double top yesterday and pulled back. 12691 is a strong level. As long as this level holds, look for a move lower to target 1.2653 and 1.2593. I will flip long if we get a close above 1.2705.
I was bearish EURUSD which the thinking that Friday's high was the near term high. Thesis still not wrong but we see EURUSD went up yesterday so today is tricky. Price action is bullish yesterday so likely we see a move higher. Price is holding above PZ, could see a move to 1.0869. I would like to look for possible bearish divergence for a short off 1.0869 or...
GBPUSD was stronger and more volatile than EURUSD on Friday as it made a move up of 50pips hitting my sell level at 1.2691 before coming down 30pips with a high at 1.2701. Weekly price action looks neutral to bullish but daily price action is bearish. As long as 1.2691 holds, look for further downside to target below levels with 1.2597 as near term target.
On Friday I was bearish with a short from PZ and that zone held perfectly on a small range 20 pips day as it held the highs and market closed near the lows. Price is below 1.0831 strong level. As long as this level holds, look for further downside with 1.0759 as next target.
Similar to EURUSD, GBPUSDS opened at PZ and rallied to above strong R before coming down to new lows but it hold at below strong support before recovering half way. I would like to watch reaction at 1.2691 strong level. A rejection off there is a possible short for a move down to 1.2631. While 1.2631 is a possible long off the level for a possible higher low for...
EURUSD opened at PZ and just rallied till the 1.0885 level given, got rejected before coming down almost 70 pips, almost hitting the initial buy level. A huge rejection but it is still a green candle. Could it be a reversal candle? Higher low formed and trend is still up. IMO better to trade later than earlier. Would watch 1.0851 on the reaction there; a...
1.2609 held and market moved higher. I would not want to call for a top here, but market could give a pullback before further up. Looking at 1.2573 and 1.2595 for a long to target 1.2667, 1.2683.
After Tuesday's bullish move, I was more bullish for further upside. Nonetheless there is the strong level I mentioned in which we can get a pullback and I said it could provide a rejection to target the BZ at 1.0785 or so and we watch the reaction from there. We did not hit the strong level for the short, but it hit the top of BZ, form a reversal candle and...
Similar to EURUSD, but not so similar too, GBPUSD made a bullish engulfing candle yesterday. The initial shorts would have worked for a good 30 pips or so but eventually market made a higher low and rallied up another 70 pips. But as mentioned, the rejection off the top (as held perfectly by the level) is suspicious. Overall following the trend I have to say...
Was much wrong in my direction yesterday. I was looking for a move down first from PZ, lower high, but possibly for market to find support, make a higher low, before a move higher. But instead, market made an early higher low and rallied all the way to my target. But as mentioned before, the final price action could be a level to take counter trend move, and...
GBPUSD is somewhat more bearish than EURUSD. Yesterday's short from the first resistance worked perfectly for almost 45pips. Price action looks bearish. I would like be looking for just downside for GBPUSD with 1.2609 as a good level to go short to target 1.2557, 1.2531, 1.2501
I warned of the bearish divergence for EURUSD despite Friday's up move and indeed, market dipped down, hit my 1.0759 level (I said is the pivot) and bounced up, but again closed down. I am quite neutral on the current price action. Again, I will see where price opened during European session. I would like to look for shorts near the PZ for a move to 1.0749 and...
Similar to EURUSD, Friday we got a good short to the buy level for a long and market rallied to the highs. Weekly price action is bearish, while daily price action is neutral to bullish. Thus some conflicting signal here. I will look for a possible short from 1.2633 for a move lower with first target as 1.2595. This strong level will be decisive as a pivot point...
IEURUSD plan on Friday worked perfectly; I was looking for a pullback on bearish divergence and it hit our first buy level and rallied back to highs. So both shorts and longs worked. I said in my DAX tweet that I do not like how indices sell down on Friday but yet DXY is weak but from current looks, the up move for EURUSD on Friday is suspicious with bearish...