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Eurodollar

📰 Bloody Momentum after the NFP Fakeout @ 1.0918We didn't do much waiting around to begin the week. We dropped a large sum and closed quite the large engulfing candle on the 4Hr Timeframe. Yes, In this instance I am aware that we have arrived at a Daily zone 1.08445. However We spent a good chunk of time collecting orders around 1.093. Jumping above and back below. We had NFP data released recently and now we are trading the momentum move that comes along with it. Momentum is a fierce blade, sharp enough to pierce the torso of a mammoth. But it's also possible that just as we did last week, price dropped a ball to begin the week. Then pulled it's pants up and soared upwards. Positive sentiment in stock market etc. The Near term prices I like are listed as 1.08445. If we bounce hard off daily level we are headed back to weekly level at 1.0868. That would be where I would give up bearish bias 1.0868. More Analysis: Last week I was looking for a retest of 1.0868 but we got it this week and actually went to do a deeper pullback to 1.083 It looks like. A lag but not too much of a lag for this short term analysis. I can be profitable with a lag because just wait until the next sessions and manage risk tight to protect profits when it is necessary.
Short
by ShrewdCatfx
The fall of the EURO with a 🗻Double Top🗻 pattern!!!It seems that according to the regular divergence(rd-) between the two peaks created in the 🔴resistance zone🔴, the possibility of creating a Double Top pattern after the breaking of the uptrend line is very high. Since the DXY analysis is bullish, the probability of the euro falling after breaking the neckline of the Double Top pattern to the 🟢support zone🟢 is high. The Double Top pattern is likely of the Adam-Adam type, which has many credibilities. DXY analyze👇 🔅Euro/U.S.Dollar Analyze ( EURUSD ), 4-hour Time frame ⏰. Do not forget to put Stop loss for your positions (For every position you want to open). Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Short
by pejman_zwin
10
Opportunity to jump on the Train or get ready for Sell side? 🕛We have corrected the GDP volatility and continuation at 530PST. However, We have pulled back to a 1Hr/4Hr zone at 1.0895 and this woulnd't be a bad place to jump on the bullish train. I'm just watching for the rest of the day. I jumped off the train already with Buys. With all this said, we have increased 145 pips on the week. Wouldn't be surprised if Price drops from these prices tbh back to 1.0854 Daily Zone. We'll see what happens as we move into CPI data tomorrow. Safe trading. Not Financial Advice. Just education.
Short
by ShrewdCatfx
EUR/USD Reverses Gains as Greenback Strengthens Ahead Key DataEUR/USD Reverses Recent Gains as Greenback Gains Strength Ahead of Key Data Releases After four consecutive daily advances, the EUR/USD has given up some ground at the end of the week. The German docket's disappointing results, combined with renewed buying interest in the greenback, have contributed to the reversal of the recent multi-session upside. Despite this setback, the ECB's expected rate hikes in May are likely to lend support to the pair's upside momentum, especially as there is growing speculation that the Federal Reserve might decide to hold rates at its next gathering. The weekly uptrend in EUR/USD has encountered a formidable barrier around the monthly highs near 1.0930 on Friday. In Germany's domestic calendar, Retail Sales contracted 7.1% in the year to February, while the March jobs report showed the Unemployment Change increased by 16K persons, and the Unemployment Rate ticked higher to 5.6%. Later in the session, flash inflation figures in the euro area will take center stage ahead of ECB Chairwoman C. Lagarde's speech. Meanwhile, in the US, all eyes are on the PCE inflation measurement, Personal Income/Spending, and the final Michigan Consumer Sentiment.
Long
by FOREXN1
14
NY open Volume may take us to next Daily Zone? >1.07995We must first make it Past 1.07825 4Hr/1Hr Zone. Ny Open may provide the catalyst to move up to the next daily zone as we have planned and mentioned in yesterdays publishing. Price is creeping up towards resistance zone at 1.07825 as we transition into the NY Session. This is suspicious and we could breakout to the upside as we have clean traffic on the 1Hr Timeframe up to 1.0833. It is monday and is a good idea to start the week out on a good note and follow your trading plan. If the new 4Hr candle closes above 1.07721 then I like buys more for the session. If not then we may range or go back to lows of our rnage at 1.07425
Long
by ShrewdCatfx
4
EUR/USD -28/03-2023-Suggested Elliott wave analysis • Rule #1: Wave 3 can never be the shortest impulse wave (applies here) • Rule #2: Wave 2 can never go beyond the start of wave 1 (applies here) • Rule #3: Wave 4 never enters the territory of wave 1 (applies here) Wave 2 usually retraces between 50% to 61.8% of wave 1 (applies here and shown) Wave 3 is the longest Wave 4 usually retraces around 38.2% of wave 3 (applies here and shown) If the assumption is correct, we are now in wave 5. This is a very simple and basic Elliott wave drawing, I am still not really advanced at it. Let me know your opinions, Thank you
by RamziAbouAbdallah-CMT