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Eurodollar

Dollar Long term -18/5/2023-• Here is a long term view on the Dollar dating back to 2001 • It is always best to look at the primary larger trend to understand where we are in the market • The chart printed a symmetrical triangle since July 2001 with its bottom in March 2008 • The Dollar managed to breakout above the triangle in April 2022 shortly after the Ukraine-Russia war started and the Euro fell below parity • The breakout however, could be a failure according to Bulkowski's rule which says that a breakout is considered a failure if the move didn't go beyond a 20% move. The breakout happened at 100 level so a 20% move would be one hitting the 120 level and what we got was 115 • According to other theories, the failure rate is 10% which we got beyond • The latest Dollar decline could be seen as a re-test of the breakout level which usually happens more than 50% of the times and the market could be eyeing another massive rally for the Dollar to reach new highs if the pattern proves to be applicable • This is a very long term view so if the breakout is confirmed, the next big rally could take months or even years • Zooming in to the 15 month view, I drew the Fibonacci levels for the 2021-2022 rally and we can see that the bulls and bears are fighting around the 50% level now and any sustained rally from here could be seen as a completion of the correction for the major rally Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck
TVC:DXY
by RamziAbouAbdallah-CMT
Shaking it up 💵 Can you close Below 1.08392? EurusdIt took a Few Days before Price was able to punch out a new Low after Printing an Engulfing Candle on the weekly timeframe last week. The candle engulfed almost 5 weeks of previous gains by Bulls. Price corrected to the S/R Zone 1.0866 and pulled back from our Quarterly Highs around 1.103- 1.108. The Next Weekly Level sits a 1.06650 which currently sits 170 Pips away. We do have unemployment data during the second to last NY session of the week tomorrow. We'll see how the American workforce is doing. This news release can be a catalyst for a continuation in trend to the downside. Our Last Daily Support Level that I can see being tricky will be 1.08392. If the Daily Candle can close a solid candle below there, we can expect more downside to come. Maybe it can also act as a good Break and retest level for Short Entries. But first we must observe the Daily Close. One guy has a swing entry from 1.086 and another guy has a swing from 1.082. Both Short Entries. Both are Good traders. All of the gossip and panic about institutions dumping the Dollar. You would've missed this 200-250 Pip Short trade from the Highs that coincided with hawkish FOMC data. Thinking there may be more to come. We have creased below all our Daily Level's -1.08607 Daily Level created on Monday -1.0853 Daily Level created on April 11th -1.08392 Daily Level created on April 3rd The next Daily Level sits at 1.07592. A good technical indicator for the Daily candle is it closing with a larger body then a bottom wick. We would like to see bears protect 1.08392 What is concerning is that we may have alot of shorts piling in now. Are they Late? We will see. The market is not going to feed everyone so we may see a hard pullback up to 1.08742 Daily Level once again Unemployment Claims has been climbing since February 7th of this year. It is expected to be a small improvement over the last period. If the Daily Candle can pull back up and close above 1.08607 Daily Level that was created on Monday, Definitely Buys on EU here, good RR back to Top of our Daily Range , first back to 1.089 4Hr level We would want the bears to Ideally respect the Break and retest Level 1.08462 on the 4Hr timeframe. The 4hr Is about to close and is closing below 1.08462, good for bears
Long
by ShrewdCatfx
2
Riding 🏇 Manufacturing Data 🎯 2%+ Risking --> [ .30% ]Last Week the Weekly Candle closed Bearish but with no wick Last week the Candle closed below Weekly S/R Level However, the candle closed in between our two Daily Level's Manufacturing Data Was Expected to be negative for the USD Red Folder News and in theory good for EUR Strength Price had been going up on EU since the new Weekly Candle opening yesterday. From Experience I was anticipating an early in the week push up away from our previously mentioned Level's. The Red folder news was a catalyst for a continuation of momentum. From here we can anticipate a continued early in the week push or Consolidation structure as NYSE Open falls back to our mentioned Weekly and Daily Level's. I can see price holding these level's for a few sessions because the Bulls have a great interest in protecting these levels. Or else EU will fall back to 1.076 rather easily Weekly Target for Bulls if we hold these levels is 1.0948 More Analysis: I observed that London Session had a nice bullish breakout. Price had pulled back for the new 4Hr candle leaving a wick to fill in momentum and additionally to create a bottom wick for the new 4hr candle. So it could blast off like a spaceship away from our previous mentioned levels. Zone to Zone. My TP was at next technical level 1.0889 1Hr Level
Long
by ShrewdCatfx
EURO #EUR/USD The EUR/USD pair shows new negative trades to pressure the 1.0900 barrier, reinforcing expectations for the continuation of the bearish trend for the rest of the day, reminding you that our expected target is at 1.0865. We remind you that breaching the mentioned level will push the price to achieve additional negative targets that reach 1.0795, while breaching 1.0945 will stop the current bearish wave and lead the price to try to restore the main bullish direction again.
by Evar_Mayi
EUR/USD -11/5/2023-• Despite hawkish comments from ECB members, signaling further policy tightening ahead, the Euro has lost about 150 pips in a single week • USD is showing signs of strength fueled by fears and risk-off mode increasing demand for the Dollar • Technically, the short term trend is bearish after the bears managed to break the 20 SMA • Long term, we are still in an uptrend supported by the ascending trend line • Levels 1.09 ( horizontal support ) and 1.0850 ( trend line support ) are very critical in this scenario • Bears will try to break below both levels to get the upper hand • Bulls wish the recent decline is just a market correction and an opportunity for them to re-enter at a better price at the trend line support • Odds favor a re-test of the trend line and a bounce from there since all the factors in the market are slightly tilted towards an appreciating Euro Traders, if you like this idea please comment and like ✅ Here to answer all your questions, Good luck
by RamziAbouAbdallah-CMT
Believe in the Gods! -->🔱--< But do not count on them for help Dollar Bulls Take the Win? We have dropped below our Last Daily Zone at 1.09219. I have been talking about dollar bulls Since we had FOMC data coincide with our extreme highs at 1.1095. A Coincidence? I thought this may be Suspicious! And it turned out that way. That was a good tell for the beginning of this descent. FOMC was last Wednesday and dollar bulls have blessed swing traders with 190 Pips in 1 Week. Everyone says EU is Weak in comparison to the # of pips it gives to most other pairs... It Doesn't give that much , heh 😉. It Respects level's very nicely! Very clean price actionnn. From a Technical Standpoint.. As Long as we stay below 1.09211, only sells for the rest of week. The Price I like are 1.0897 as the next Pit stop. Ultimately with Friday's daily candle I'm liking 1.0866 Weekly Level as mentioned in previous publishing's. Also I like the Daily level just beyond that at 1.08535. As long as NY and our last remaining 4Hr Candle prints below 1.09219, Sells are fantastic. I would prefer that we waste no time and close below 1.09112 4Hr zone. Trading : Trading today went quite well. Looking at my data.. my Thursdays are typically good. --<< I've seen that remark impact my trading psychology before. The brain is a wonder. Managing trading psychology is a large part of trading. Given that I am profitable, I still cut my winners a bit short sometimes. Why? Out of Fear. Complicated.. But for now we must stay consistent and discplined to the system. the trading plan. 3 Setups today.. The First one I ran because i was scared and closed for B.E. It would've been a nice +5 Pip scalp. The Second was a great. Just closed a little early. The third was a great! Closed a little early once again. I can complain because green is green. Profit is profit and we must learn and move onto the next day. On Thursday's.. 1. The Market sets itself up early in the week. By the time Thursday comes around, the weekly candle is ready to extend itself in the preceding direction from Monday/Tuesday Etc. 2. New and Struggling Traders are Tired and Exhausted from trading since Monday. They begin to make mistakes and become sloppy with their execution. Leading to larger losses than are necessary. I have been there.
Short
by ShrewdCatfx
[ CPI ] : A Catalyst for Optimism? 🏳‍🟧‍⬛‍🟧- The Weekly candle pulled back up after creasing last week's low - The Daily Candle yesterday closed in between our Daily Level's 1.09715 and 1.09495 - This was good for bulls as I mentioned because we closed above 1.09495 - Either way Eurusd was still technically inside our overarching Daily range between 1.106 Daily/Weekly level and 1.09495 Daily Level - CPI Coincided with a Bounce off Daily Support at 1.09495! How Beautiful. I mentioned this occurrence in my update on my previous 2 Posts. CPI decreased signaling optimism for markets. Inflation is decreasing and is on a smooth downward projectory. -Now will we observe a continued change of character with CPI data as the catalyst. We reject our lower prices and bottom part of the range and go back to 1.106 Daily/weekly Level. -Our first pit stop to the upside being Monda's Daily Level at 1.10226? -Price is currently at . If the Daily candle closes like this I say yes. But we must observe how the daily candle closes and if there is a follow through after the Initial bounce from CPI on the 1Hr TF. -The 4Hr Timeframe closed beautifully rejecting our Support areas below + We must observe if the 4hr zone which coincides with our daily level at 1.09715 can hold for more upside + We must consider that we often see a correction of news price action. It can take 2-3 Hours, 1-3 Trading sessions , or 1-2 trading days. We would observe a correction down to 1.09456 More Analysis: Trading went well as I earned profits with reduced position size due to increased news volatility. I made a few mistakes but overall I can't complain with a +.65% profit on the session and and similar +.60% gain during yesterday's Asian Session. It makes up for the tough trading Day I had on Tuesday and plus some. I do want to learn from my mistakes so I will be doing some further reflecting .
Long
by ShrewdCatfx
Would like to be proven wrong Bulls! Eurusd 💶We have printed two Bullish Monthly Candles back to back. The first week of this current monthly candle for May 23' has closed as an indecision candle. I am gravitating towards the Bull side but would not be surprised to see more of a sell off after the May FOMC decision The FOMC decision to raise rates by 25 basis points coincided with our extreme highs of the Year around the 1.105 Weekly Level In a way I want to be proven wrong on the Sell Side for EU. I want to see Buyers stay strong around our extreme Highs here in the 1.10's and not be phased by a short term descent in price as FOMC price action settled after the initial announcement. I would like to see buyers at 1.09718 and 1.09480 Daily Level's be taken out before any more of an ascent occurs. The Price I'm looking for is 1.09176 Daily Level. To begin the week before CPI data on Wednesday I will be looking for price to pullback but will be happy if proven wrong instead with price displaying a quick ascent back to 1.1095 and beyond with CPI numbers.
Short
by ShrewdCatfx
Buyers want 1.1024 4Hr Zone Holdd.. before potential Avalanche ⛄Scalping, Scalpingg. Has taken my heart. Discipline and Patience. Aggressive when it times to be aggressive. Fearless when it's time to be fearless. Trust in thy system and process. And Gold to be attracted to thy pocket with time and accumulate in ever increasing quantities. Will bulls hold 1.1024 4hr Zone? Or as the Daily candle flips bearish at 1.10239 will bears take us back to Support on the daily timeframe once more at 1.09718. 1.10148 Current Daily Low being the current Daily Low --> 1.10148 is a 1Hr Zone and our last potential Support before I see Sellers taking over once again. The 1hr timeframe and 4hr timeframe have clean traffic to the left hand side and we should mirror those as we go back down. CPI on wednesday will most definitely shake things up. Early in the week we have seen the market be proped up by Asian session buying. Will this buying pressure be sustained? Bulls + Monthly Candle is Bullish + New Weekly Candle gapped up and is Bullish + Friday Daily Candle Closed bullish + the first 1hr of our new 4hr candle jsut closed Bullish above 1.104 + 4Hr market structure is Bullish + A bullish Asian session to begin the week. Price has been consolidating since London Session open with 1Hr candles printing in a tight range +De-Dollarization appears to be more evident than ever Bears the 9am GMT 4hr candle closed below 1.104 4Hr Level Price is still holding steadily below 1.10590 Weekly Level Price is leaving a Top wick appearing to reject Daily Level 1.1059 The weekly candle last week printed a Lower Low and a Lower High on that timeframe.
Short
by ShrewdCatfx
Better action on the EUR/USD todayOANDA:EURUSD Much better this morning No fancy terms, no fancy commentary, NO fortune telling here from me. I don't pretend to know how the market makers play everyday, no one can, as we are mostly just home gamers sitting home trying to pay our bills. AND NO, no one know how the banks trade, if they knew, why are they posting to us home gamers? I just use some cool tools to help me get some scalps here and there, that is it. Trade well. Now to enjoy my day.
Short
by makerup
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CME:SR31!Education
by shamscom