US Dollar index might need a quick bounce to the 95.80 area before continuing the Downtrend . If it holds the 95.08 Level then we will head to 95.80 Area for a bounce before collapsing. If we don't hold then we will chase the next Support level in 94.74 Area In this case EURUSD will head towards 1.1600s if we break the 95.08 Level on DXY ( US Dollar Index)...
Right now ( at 3:00 am EST , New York time -- 15/08/2016 ) , EURUSD is very overstretched but Turkey and EM markets are still a risk. If you add in ITALY and a couple of other EM countries , then we have "99 problems for EURO and US Dollar ain't one of them " . Where are the EURUSD Bulls ? with BIG PANTS ? Are they scared now ? Well the pain is starting to get...
We are likely to see US Dollar self off in the coming 4 to 12 weeks before we resume the Bullish trend . We are still in the weekly bullish long-term trend channel. NOTE: this is in the Long-term ( 4 to 12 weeks )
Contrarian view NOTE: this is like playing with fire so handle with care: EUR/USD -0.58% bears are now looking at the 1.3000 figure and 1.1178 June 27, 2017 low. The bear momentum is strong as they are in full control. 1.3000 target seems to be inevitable and after that its FREE FALL to PARITY if we get there but for now let's trade or make some money. Trend:...
The Turkish LIRA and the spoiled brat " ITALY" are causing CARNAGE in the Currencies . The US Dollar ( DXY ) Since Friday has been obliterating all currencies. EURUSD from 1.1537 to now 1.1364 ( 173 pips) and possibly more. So what do we do ? - Turkey needs to fix the LIRA issues - ITALY needs to have a budget supported by EU - EURO Zone slow down is real...
I think it is really overstretched , oversold and overdone on the 3-hr , 4-hr and now daily charts . The US numbers are good . Turkey and Italy has rattled the currency markets & Trade issues . The USD ( DXY) index has very very good support but we also need to be aware . Extreme DXY Rise == Less US Exports to other markets == Less competitive US Goods == Too...
If DXY strength is to continue we need to test the 94.80 area before we power up again . If not then there is higher probability that it will run out of steam and collapse as usual. We need to have more Dollar Bulls and Less EURO Bulls for it to power up. Next Week starting Sunday 12/08/2018 at 5:00 pm EST: Look for EURUSD recovery to around 1.1550 before we...
The Dam just broke , The EURUSD Bears finally nailed the coffin containing the EURUSD bulls and sent it packing . The Question now is whether the US Dollar index continues the climb or it buckles , its now at 96.01 The EURUSD just dropped 80 pips in 10 mins. There is going to be a lot of pain on the EM currencies on friday . it is a little stretched on...
if DXY breaks out of 95.53/95.65 then EURUSD breaks 1.1508 Currently EURUSD has hit support at 1.1508 to 1.1530 area and 3-hour and 4-hour RSI & CCI for EURUSD are a little oversold . So expect a small relief before we continue the downtrend on EURUSD if DXY breaks the resistance level 95.53/95.65 NOTE: DXY has been rejected in this range more than 3 times so...
Technical indicators are very sexy for new traders and even majority of professional traders but i will take a moment to tell you why they don't work most of the time. Also Scammers who want you to believe that somehow this indicators and systems created from them are magic bullets . The truth is they are not and that's why 90% of all retail traders blow up at...
I still believe that this is a EURUSD relief rally . The 3-hour / 4-hour RSI & CCI were oversold . I expect that if the EURUSD daily close is above 1.1580 then we might have slight stronger rally with a trend reversal but that's just temporary . The Q2 Data from EU and especially Germany has been Weak or Soft including today's major data stats -- Trade...
I am shorting the EURUSD in the range 1.1603 to 1.1627 Entry : 1.1603 to 1.1627 Exit: 1.1550 to 1.1508 The US Jobs reports for July was 157K but that was due to TOY R US stores closing and laying off 32K jobs. Therefore 190K would have been the job number as per consensus Market reaction shows it
EURUSD is at 1.1575 at the moment . The 3-hour and 4-hour RSI(14) are extremely oversold. The daily RSI is fine has room to move , right now at around 40 . So expect DEAD CAT BOUNCE or rally to around 1.1585 to 1.1627 to relieve some oversold pressure before we head down to 1.1527 and then 1.1508
I think we still maintain an overall Neutral to Bearish bearish tone if the EURUSD is below 1.1790 . if EURUSD > 1.1790 == Bullish bias if EURUSD < 1.1790 == Bearish bias if EURUSD < 1.1650 == strong Bearish bias With a bearish engulfing candle on 3-hr chart , we are short until 1.1595 Entry: SELL Size: 5 Lots ( Std or Mini or Micro ) Entry...
The current triangle seems to be breaking out as it is composed of 5-waves indicated A-E on the chart . As you can see this triangle is not right-angled triangle , which tends indicate a violent breakout is pending Since we did have a very strong downwards trend in the 3 out of 5 sections down waves indicated by A,C,E of this triangle , it indicates that...
Tight Short: This is a very tight short , so cancel it if does not materialize. You want to take small profits since EURUSD is still in a range Entry: 1.1725 to 1.1663 Exit : 1.1649 to 1.1588 AUTOs -- Cars and Trucks EU: EU imposes 10% tariffs on Small cars ( Passenger cars) EU imposes 10% tariffs on Trucks and SUVs ( pickups and delivery vans)...
You are Damned if you do and you are damned if you don't . Well the EURUSD bulls were handed diamonds on a gold-plate . The comments by US president on FED, US Interest rate hikes and Currency manipulation by EU & China made a pretty good day for the EURUSD bulls. If you joined the wave then that was good injection of euphoria (Drunken episode). OK , OK , I...
Sell at 1.16770 Exit at 1.1595 US Pres. Trump worries that higher rates would 'nullify' work his administration has done - CNBC Breaking News: US Pres. Trump: Not thrilled about rate hikes The president does not control the rate hikes, its the FED and they are independent of politics . They look at Data not politics. Unless those retail traders want to be...