Jump to content


Recommended Posts

  • 3 weeks later...
  • 4 months later...
  • 2 weeks later...
  • 1 month later...

August bull flag consolidation, beware over weekend positions with Jackson Hole symp, Draghi and Yellen speeches and UK August bank holiday Monday.

EURUSD looking for a direction push and may find it as news from the symposium is digested.


List of key CB phrases to listen out for by Bloomberg.

EURUSD daily chart.






Link to comment
  • 1 month later...
  • 1 month later...
  • 2 weeks later...
  • 1 month later...

The monthly resistance level 1.20921 has blocked progress yet again and looks very solid, price now looking for support. The 1.19610 is previous resistance and may provide weak support but probably will not hold. The zone between weekly support level at 1.17172 and the 23.6 Fib around 1.16686 looks more likely. Failing that there is the monthly support level at 1.15538.

The 100MA may also provide a bounce as it has in the past, wait and see.


The main trend is still up but the MAs are levelling off and the weekly and monthly charts are shaping into a double top.

There is not much on the calendar to give this a push either way until Friday with US CPI and retail sales. 




Link to comment



You don't need BOA to telly you anything 


You could have read the charts and price action. Price action works sometimes,  but you  need patience and longer time frame trading.Only reason why price action does not work, is "it is difficult to time the markets".


What Happens When You Try to Time the Market?


I can show you hundreds of examples why market timing screws up price action.




*** Intraday Price Action Scalping on FX Majors ***

Link to comment

Oh look, the cut and paste fantasist has been back on this thread again, ignore. US PPI data out today, the euro was not able to capitalise on the dollar shaking news yesterday that China may cut or stop buying US Treasuries. Price has fallen back below 1.19610. The most likely scenario for today is a search for support.



Link to comment



You do all this analysis.They you debunk trading psychology


Here is a way to test , why mindsets and mental states dictate the failure of technical analyses, price action snake oil , trend trading and trend losses and chop outs.

If traders were given the above price action , trend trading ,chop outs and fundamental analysis , if the they were in the following emotional states , what would be the end results of the analyses?


I know you will be dismissing my discussions, this is because you can not give a healthy debate.



Link to comment

It is very rare I ever follow any of your links, they are usually to some public forum site where there is a thread that matches your own jaundiced view on TA and educational material that I know to be false, hypocritical and usually irrelevant.  


I do my own TA on a daily basis and share anything I see that I think may have some bearing on the day's market, I might also link to a story that may pan out to have some relevance on the day's events. If anyone doesn't like it fine, don't look at it. You seem to imply anyone who does as such is in some way trying to scam people. I have never been interested in providing trading tips and am wary of anyone who does, and I am especially not interested in calling trades as only stats over a large number of trades would actually have any relevance as to performance, and then again I don't actually need to prove anything to anyone.

Link to comment

Sits above 1.20920 for the first time since the end of 2014 having been lifted at the end of last week on data releases. Being such an important level and there being minimal data this week that might cause follow through I would be looking for a retest of 1.20920 before an attempt to move on.





Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Posts

    • Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame.      
    • US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy.   The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish?   Apr 28, 2022 | DailyFX Nick Cawley, Strategist
    • While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.        
  • Create New...