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EUR/USD - Fall Scenario 2 - Taper Supports GreenbackHello Traders Here is a new SELL Scenario, Federal Reserve 'on track' for tapering asset purchases. For a longer term, it can reach 1.15 and 1.14 for a quarter if you are patient. 💹EUR/USD SELL STOP ✅ Entry @1.16300 or below ✅TP-1# 1.16200 ✅TP-2# 1.16000 ✅TP-3# 1.15800 ✅SL# 1.16800 Source : www.actionforex.com JamdeJam will not accept any liability for loss or damage as a result of reliance on the information contained within this channel including data, quotes, charts and buy/sell signals
Short
by jamdejam
DXY rejection and BounceDXY is currently sitting on important historical support - 93.806, starting Wednesday's Asian session. Yesterday minor support at 93.470 hold good. Leaving DXY back at the bottom of Septembers´ ascending trendline This ascending line seems pretty strong still, if it holds, further gains to the upside are to be expected, having the top of the last 15 days range as the first roof to check. If 94.526 is permeable it will let the Dixie double range times 2 bringing it up to 95+ Let's see how it goes.
TVC:DXYLong
by Memo_Mountain
1
Lines in the sand for DollarIt seems a timely choice to update the dollar chart. Extending the characteristic positioning in the previous euro chart, seems to me to be more in accordance with the needs of 93.75 - 94.00 holding and acting as a reliable guardian for the remainder of August and September, but the threat to an attack higher is real. In the DXY chart, buyers will need to make good use of the whitespace above as an attacking battlefield. Things are quite different in the ladder between 95-96, where we are talking of the complex change in nature from corrective to impulsive; in fact we must consider both possibilities as valid in their characteristics From a geopolitical risk perspective, the task of sellers defending the 94 handle is also complex, buyers can see the problem of restraint they are having and could aggressively rush to USD, moving DXY higher with a hint of more risk (Afghanistan, Taiwan etc). With all that said, the long term structural decline of the West looks underway with migration Eastward. This will be a multi year/decade long process as long as Dems are at the helm. My impression is as follows; we are trading towards the top end of the range, here actively looking for opps to trade 93.7x/94.0x => 90.6x. This C leg can extend as high as 95.4x and still be valid. Invalidation and reassessment of the view will only be required above 96.3x.
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TVC:DXYShort
by ridethepig
38
ridethepig | The base is fixedA quick round of illustrations to review the swings in euro... The idea of the swing; we are mapping bids and offers, no more no less. Two battlefields, the wings are what we attack on and the centre is where we begin to clear (into thrusts and etc). Lets start with the Yearly chart for our macro direction: Very clear the base has been attacked previously many times, lulling sellers into capturing before trapping them on the return. Eurobonds / debt mutualisation has fixed the base in 2020, covid was for Angela Merkel what Britain was for Alexander Hamilton. Now lets check the Monthly in Euro first and then Dollar: Both are very clear with direction and the developments that have arisen. The new weakness in dollar should be energetically got at while the exploitation of the risk on continues until all that is left in the endgame. We still have another few months of riding the pig and marching triumphantly forward before we need to review charts. On the Daily, 1.176x - 1.173x is acting as strong support. Buyers could overcome all their difficulties with a break of the volatility triangle/compression. Under no circumstances should buyers surrender while the lows are still holding. You can see how much damage is there to be done, clearly an expensive area to be selling into, while a cheap and open file to be buying into. To the topside, targets coming into play at 1.198x, 1.225x and 1.250x. Thanks all for keeping the feedback coming !!
Long
by ridethepig
7
Dixie dropThe DXY is currently testing the 61.8% Fibo retracement level at 90.830. A failed break below will allow the DXY to retrace into the range between 91.822 to 92.437. The MACD is showing early signs of rolling over, the RSI is nearing the oversold zone and the stochastic indicator is consolidating in the oversold zone. 1. Fundamentally the dollar will be at the mercy of Fed chair Powell and the US 1Q2021 GDP results. Powell is expected to remain accommodative, in line with the tone we heard from the ECB last week Thursday and most probably the Bank of Japan tomorrow morning. Other central banks such as the Bank of Canada and the Central Bank of Russia however opted for a more hawkish tone last week, global inflationary fears rising? 2. US 1Q2021 GDP is expected to climb 6.1% q-o-q and an above expected GDP print could provide the greenback with some short run support. The US government 10-year yields found strong support on the 50-day MA yield of 1.559% earlier in today's session which has pushed yields back above the resistance level of 1.58%. Technical indicators on ten-year treasuries are also turning to the upside which is dollar positive. Over the longer-term, definitely dollar bearish, back below 90.00 by June.
TVC:DXYShort
by GustavFourie96
2
Potential higher growth in 2021 to encourage Fed to wind down QEContinued fiscal stimulus will boost US bond yields and then eventually also the US economy in 2021 relative to its peers, increasing the relative attractiveness of the US dollar versus some of its major lower growth, lower-yielding peers (such as EUR, GBP and JPY). Higher US growth in 2021, and perhaps a faster than expected pick-up in inflation, might encourage the Fed to wind down its asset purchase programme sooner than markets are currently pricing, which could see US real yields rising, a USD positive. ---------- "Always prepare yourself for the unexpected turn." Paul Forbes - Managing Partner @ LEFTURN Inc.
TVC:DXY
by paul_forbes
1
USDJPY BEARISH CONTINUTION What's up Traders, Looking at the Dollar being weak again this weak with UJ following its nasty downfall. plenty of Technicals to back it up. Looking at the 4hr on UJ, the first thing I want to address is the Hidden Bearish Divergence(Lower Highs on chart, Higher Highs on RSI). That's the the cherry on top, the main indication is last weeks rally to the supply zone and failure to break through. Thus forming a pennant/Ascending triangle. (Yes I know Ascendings can be Bilateral. Most of the time they follow the trend unless used in confluence with other bullish signals.) If you want to flip over to the daily you'll notice the bearish candle as well. Just some basic Technicals on a clean set up. If you have an opinion pls share or like mine please like my Idea! Thanks. -TraderBlake FX:USDJPY
Short
by Trader_Blake
ridethepig | Dollar for the Yearly Close📌 Dollar for the Yearly Close Now comes the dollar complex which we have covered several times - the artificial devaluation which we were tracking in 2019 has arisen: Dollar bears now have a good position, because it is looking highly unlikely that Trump can pull this off now and manage to force a stop to the artificial devaluation. This somewhat clumsy move of a Biden/Harris WhiteHouse alongside a GA senate flip which looks cooked to come in January - will expose badly the USD and nothing will be able to prevent it from hanging on. The struggle to control a private debt problem by issuing more private debt is a serious mode for the birds. ...Monetary policy, or better said, Keynesian economics has the difficult task of proving its worth now: For USD the chance of setting up a counter attack of the highs is diminishing on all wings. As we are seeing, frequently the 90.0x handle has been difficult to crack, so it is clear that we need to pay attention to a breakdown here as it unlocks the possible momentum force towards the nearest support at 77.8x. Another extremely violent example of capital outflows looks around the corner for the U.S in 2021. Thanks as usual for keeping the feedback coming 👍 or 👎
TVC:DXYShort
by ridethepig
6
ridethepig | Dollar into December📍 Dollar into December ... Here we are dealing with a sensitive situation, which we have discussed previously at earlier opportunities. One should not overlook the underlying strength of the dollar given it is the centrepiece of the currency board. After clearing the vaccine and all is roses newsflow, the next chapter of covid and risk is here into December - I am expecting dollar to find some short-term support, investors will take cover under the table while risk rushes into the room for the coming weeks. The manoeuvre is intended to provide a retrace from the impulsive leg down, but not too far. We must defend skilfully as sellers are already 'quite in love' with the dollar devaluation story. However, markets do not move in straight lines and some legs are worthy of participation. I personally think a pullback towards 94/95 before we can continue with artificial devaluation towards 80/75 in 2021. Thanks as usual for keeping the feedback coming 👍 or 👎
TVC:DXYLong
by ridethepig
9
EURUSD consolidatingTechnical view: After breaking the downtrend line, price action stumbled at 1.20 and retested the line. Now price in a range between 1.16 and 1.20. A break of 1.20 would signal a continuation of the uptrend after the break. Next target level would be 1.24 area. Overall the chart suggests a higher probability to the upside. Fundamental view: With US election around the corner, all eyes on Trump/Biden duel. With recent events, USD showed weakness as the election is not certain with pandemic disrupting the voting process in many states. While Biden's victory is deemed overall positive for US economy, his victory is not certain. Please support the idea and share your thoughts on EURUSD! Good Luck and Stay Healthy!
by Antonio_trader