Get started

NEWS

Stubborn EURUSD protects 🛡️1.076 Daily Level FOMC Meeting Minutes is coinciding with a touch into our Daily Support Level that has held since last Thursday. It's almost been an entire week since the decline has been halted. Yesterday we created a publishing about a potential double bottom, but we may have jumped the gun so to speak. The market may have needed more time to accumulate long orders and trap short liquidity. The Market appears to keep banging its head stubbornly against our 1.076 Daily Level. This morning thus far we could observe a volatile 40 pip range between 1.0795 and 1.075. Day traders have been having a hell of a time. This market reminds me of the FOMC Interest rate announcement about 3 weeks ago. It was a volatile range and turned out to be the turning point in favor of the bears for Eurusd. The market used FOMC as a turning point recently and I think we may see another occurrence as the market shakes out Buyers and Sellers with this volatile price action. Similar to the CPI news shaking out weak sellers 2 week ago, this market may increase. The price is low but the Sellers don't look necessarily persistent in their effort to sell into the 1.076 Daily Level. The Buyers on the other hand are happy to go long at our Daily Support Level as it offers great risk to reward. Price is has made a new low during London but was quickly bought up at our pre-planned 1hr support zone 1.0749. I liken price to return to our 1.08125 Daily Level as we continue to see a volatile range and fight in the 1.07's for Eurusd. I've struggled in my scalping of Eurusd this week and attribute it to psychology. Trading psychology is a very large part of trading and requires constant attention. It must be managed properly and is a skill just as developing a profitable system that suits your personality. It takes time to understand your weaknesses and strengths as a trader. This week I've had a particularly difficult time managing my weaknesses. Time and Patience is the greatest warrior and so I will come back stronger at a later time. Safe trading.
Long
by ShrewdCatfx
Eurusd : Double Bottom [ Daily level 1.076 ] ⛽There is a good probability that Eurusd will create a double bottom structure at 1.07597 on the Daily Timeframe. Here on the 1Hr we can observe a Low formed at the bottom of structure and is bouncing hard. I am anticipating a sort of double bottom structure here on EU. EU is flat after PMI data was released. Data was expected to be generally good and it turned out to be mixed. -This news release lines up with a retest of our Daily Level 1.07597 -The recent 4Hr candle just closed at our 4Hr Support/ Daily Level 1.07597 with no bottom wick signaling to me that there is profit taking for the bear occurring. -After 1Hr of Price action the current 4Hr candle didn't hesitate and has just gone straight up. -The bottom wick for the new 4hr candle thus far has been very minimal. - The 1Hr Candle just closed bullish at our 1.078 1Hr Zone -Often times at the 7am PST candle you can observe a continuation of the previous trend . ( In this case confirmation of a bounce off our Daily level 1.076 -We have clean traffic on the 1Hr chart back up to 1.08 where we may run into some trouble in the short term More Analysis: I bought the low price around the time when the new 4hr candle was opening and earned nearly 1% on the account. I don't necessarily think going short at Support is a wise thing unless you really know what you are doing.
Long
by ShrewdCatfx
Lower Lows.. More Low Prices to end the Week? 🚠 Eurusd Eurusd is going down. Will it continue to go down is the question? We are at the Extreme Daily Level 1.08392 of our larger Range. The Daily Candle just printed almost exactly at our Level. Not above nor Below. Bear Market Structure still Maintains itself So long as a 1Hr candle doesn't print above 1.0872 on the 1Hr Timeframe. Unemployment Claims Data is expected to be positive for the USD during the Next NY Session. However the Unemployment Claims data since February has been increasing more and more as more people file for Unemployment. Not a good sign for the Workforce. Maybe this is is more of an excuse to buy our Reserve and Safe Haven Currency .. the U.S. Dollar. The News release may be the catalyst for a continuation of momentum to the downside + Another Lower Low printed in Market structure. The price I like for a weekly Bearish target is 1.07925 4Hr Zone Our Bullish Eurusd target for the end of the week is 1.0872 Daily level. We have our Level's plotted and will use Technical Analysis to create good Risk Reward Ideas. The market is random after all and we can only use our form of technical analysis to manage risk.
Short
by ShrewdCatfx
1
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
EURUSD - A review of this week's newsWe're beginning to see a Tale Of Two Economies emerge, as US data this week shows the path of disinflation continues, albeit slowly, giving investors hope that the Fed's interest rate increases are making an impact. Meanwhile across the pond, all quotes from the ECB are warning that the fight against inflation rages on and further rate hikes will be coming. However, one major factor hanging over the Dollar is the news that there is "significant risk", according to the CBO, that the US won't be able to pay all of it's obligations as soon as the beginning of June, leading to the possibility of a default unless Congress votes to raise or suspend the Debt Ceiling. From a technical perspective we see EURUSD failed a number of attempts to break through at the highs and has now begun to create lower highs and lows with it's violent moves down in recent days. Key trendlines and support levels have been broken and all signs point to the countertrend move having begun. While we appear overextended on lower timeframes, it may be prudent to wait patiently for a new lower high for a viable short entry. It seems likely that we're witnessing a breakout to the upside on the DXY combined with profit taking and shift in sentiment for the Euro due to continued inflationary pressure in contrast to US inflation. United States (US): US CPI YoY 4.9% (Forecast 5%) : Consumer prices rose 4.9% on an annual basis, below forecast. US Core PPI YoY Actual 3.2% (Forecast 3.3%, Previous 3.4%): The US core Producer Price Index (PPI) rose by 3.2% year-on-year, slightly below the forecasted 3.3%. US PPI MoM Actual 0.2% (Forecast 0.3%, Previous -0.5%): The US Producer Price Index (PPI) increased by 0.2% on a monthly basis, slightly below the forecasted 0.3%. US Initial Jobless Claims Actual 264k (Forecast 245k, Previous 242k): The number of Americans filing for initial unemployment benefits rose to 264,000, exceeding the forecasted 245,000. This increase suggests ongoing challenges in the US job market. The “single biggest threat” to the economy now is the US hurtling towards a default on its obligations, said Karine Jean-Pierre, press secretary. European Central Bank (ECB): ECB: Consumers see 5% inflation over the next 12 months vs 4.6% in February : The European Central Bank (ECB) reports that consumers in the Eurozone expect inflation to reach 5% over the next 12 months. This represents an increase from the previous estimate of 4.6% in February, reflecting growing concerns about rising prices. ECB's Nagel says the "latest interest rate hike won't be the last". ECB's Lagarde spoke on Thursday, saying "the fight against inflation isn't over".
Short
by HayeTrading
2
PPI News Release tomorrow. What is it? The U.S. Producer Price Index (PPI) MoM release is tomorrow (14:30). In this idea I will talk about what it is and how we can make money of this as traders :) What the # is PPI? The Producer Price Index (PPI) measures the price change on the manufacturing side. In contrast to CPI, Consumer Price Index, which measures what consumers pay for their stuff! So, the PPI covers the price changes of the sellers and that is why it is widely considered as one of the most important indicators for inflation. How does PPI influence the dollar? When the PPI rises, this sends a message to the fed that inflation may be taking place so they should raise interest rates to 'fight' this inflation. The interest rates hikes generally lead to higher value of the dollar. Rising PPI = signal of inflation = policy of higher interest rates = more attractive to investors = dollar is more in demand = increase in value Same things goes for the other side: Low PPI = low indicator for inflation = message to fed to ease up with the rate hikes = lower interest rate = Generally bearish for the dollar. So always buy the dollar when PPI rises? NO! You should also take a look at the monetary policy of the counter currencies countries. Because lower interest rates in USA generally DON'T mean a decrease in the dollar value for USD/JPY if the interest rates are even MORE lowered in japan. Conclusion To be honest, the best way to 'make' money in the long term during major news events is to not trade at all. Because of the major volatility spike you can lose money very quickly and there is also have very high risk of slippage on your trades. Trading big news events is like gambling and that's not what we do. Maybe you experience a little bit of FOMO when you see the beautiful big moves that you 'could have gotten into' but it WILL pay off in the long run to avoid trading during major news events. I give daily ideas about market analysis, trading psychology and trading in general. ❤️ If you appreciate my work, please like, comment, follow and send to someone you think should read this. ❤️ If you don't then don't! :) @yorick7878 I wish you all good trading!
by yorick7878
[ 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
The END is NEARNow I understand there are a lot of shenanigan's going on in the banking sector, but I'm not going to pretend to know how exactly this will affect the price of bank stocks. Everyone and their mom is now bearish on bank stocks from the constant news of bank failures and if I've learned anything from the markets is that the market always moves against the crowd. So I make my decisions strictly from the price action and volume obtained from charts. BAC has been trending on this blue support line since 2016. You can even take it back to 2011. Each time it has bounced off of this blue trend line. However this time, it will be different. This time we had an inverse head and shoulder from which price broke down with SIGNIFICANT volume Although the price has bounced from the blue trend line for right now, it has already rejected the previous support of the inverse head and shoulders at $30. Validating the breakdown with more downside to come. The fact that a bearish pattern broke down with such high volume right above the extremely strong blue trend line tells me price action is gathering strength to be able to break below this blue trend line after years of support. When this break below occurs, it will be nasty. A rapid fall in price, not slow and drawn out. An optimistic bounce area will be between 24 to 23. However, a break of a trend line this strong can only be accomplished with significant strength, in this case bearish strength. I see BAC falling to the 19.5 to 17.5 dollar range, an area that previously was a resistance but is now a support. When will this break down happen? I don't know, but price action is showing it is bound to happen in the upcoming future. Possibly after earnings are all done with.
NYSE:BACShort
by MoRafi
💵 Dollar Buyers Pile Back in with NFP DataWell Dollar Buyers Piled back in with positive Jobs data. Eurusd returned back to the bottom of the range for the 3rd time in 2 Weeks. Our Daily Levels being 1.097 and 1.095. Quite the week for Swing traders and Scalpers playing the range.. Like who cares about breakouts anymore 😂. We were anticpating this data to take us out of the range and up to 1.115 but that is for another day. The Weekly candle will either Pullback up or continue dropping to end the week. It appears that we may be going to correct the NFP release at 1.10111. This occurs a majority of the time. The timing can be quite tricky however. I've seen it take 2-3 Days or 2-3 Trading Session or even 2-3 Hours. Yes, or even less than an hour. Either way have a great weekend. No trades today because the sum of my Previous 5 Friday's were profitable BUT only on 20% of the days. I had a Big Friday in Late March which brings the sum of my recent Friday's to a positive. If I had traded today I would have done well. But as mentioned previously the majority of Friday's are a Small Loss or Break even. It's Friday and even though I'm overall up on the sum of my friday's, I would rather save my energy and go enjoy the weekend. This doesn't mean that I can't still watch the charts. I did. I had a B.E. week. It's better than a Losing Week! Another week of experience under the belt. Safe Trading.
by ShrewdCatfx
Very Strong Signal 📶 EURUSD 📶 Hello, friends, do not sell this pair because of the negative news, as the interest rate was negative yesterday on the dollar, so the euro must rise in front of it, so I will prefer the buying trend instead of selling, so we have three areas from which the price will reverse with a 99% confirmation rate €$$$$$$$$$$$$€$$$$$$$$$$€ The first area is the mitigation area from which the price may be reflected............ and the second area is the demand area...and the last and strongest area is the order block area... Therefore, in order to make sure that these areas are effective, we must We go on lower timeframes and wait for a reversal signal in one of these areas
Long
by Market-Destroyer
7
Market News and Events that Affect Forex Prices Forex trading is an exciting and dynamic market that is influenced by a wide range of news and events. In order to make informed trading decisions, it is important to keep up-to-date with market news and events that can affect forex prices. Here are some key factors that can have an impact on the forex market: 1. Economic Indicators: Economic indicators such as GDP, inflation rates, and employment data are closely watched by forex traders as they can provide insights into the strength of a country's economy. Positive economic data can lead to a stronger currency while negative data can lead to a weaker currency. Central Bank Policy : Central banks play a key role in setting interest rates and monetary policy, which can have a significant impact on forex prices. Changes in interest rates or announcements regarding monetary policy can lead to fluctuations in currency values. Political Events: Political events such as elections, trade negotiations, and geopolitical tensions can also impact forex prices. For example, the Brexit vote in the UK had a significant impact on the value of the British pound. Natural Disasters: Natural disasters such as earthquakes, hurricanes, and floods can also affect forex prices. These events can impact the supply and demand of goods and services, which in turn can impact currency values. Market Sentiment : Market sentiment refers to the overall mood of traders and investors towards a particular currency. Positive sentiment can lead to an increase in demand for a currency while negative sentiment can lead to a decrease in demand. It is important to note that not all news and events will have an impact on forex prices and the impact can vary depending on the specific currency pair being traded. It is also important to have a solid understanding of technical analysis tools such as charts and indicators, as well as a strong understanding of risk management, in order to make informed trading decisions. By keeping up-to-date with market news and events and using a combination of fundamental and technical analysis, forex traders can increase their chances of success in this dynamic market.
Education
by glorias3972
May FOMC announcment 🫨Do we have enough steam to take us to 1.11500? Anticipating that rates stay the same and that the May Decision is Bullish. Planning since Staurday this past weekend that we may be onto something here. My Belief is that May Decision is viewed as an Optimistic data point. Preparing for a fall to 1.086 if not the case. Safe Trading. I'll be looking for opportunities about 1hr after the announcment once we have momentum and determined the direction with lowerd lot size and FOLLOW you TRADING PLAN. Okay good luck and safe trading.
Long
by ShrewdCatfx
2