eurusd

[Caseynotes]

Looking for support again today, may find it at 1.2194 (again), otherwise it is back to 1.2092.

 

 

[Guest mostlyharmless]

Short term sell off (EUR/USD) seems to be driven by GBP strength not USD. USD has woken up now... further lows for EUR/USD?

 for

[Guest mostlyharmless]

Short term sell off (EUR/USD) seems to be driven by GBP strength not USD. USD has woken up now... further lows for EUR/USD?

 for

[Caseynotes]

Continuing it's climb upward after prolonged sideways period, currently respecting the 100 MA on the 5 min but so far unable to clear prior high at  1.2335. Good correlation analysis , new week new scenario. 

 

 

[Caseynotes]

eurusd happily ranging while awaiting a Draghi sensation but the chart is setting good levels to bear in mind. The problem with pressers is that price can reverse on each sentence and this one usually goes on for 3/4 of an hour. Usually worth holding off til some kind of consensus is reached.

 

 

 

[Caseynotes]

Monthly chart sees trendline resistance dead ahead. Strong January overcame the 5 month resistance (and prior support) level 1.2092, will be interesting to see how this plays out.

 

[Caseynotes]

Is checking the Feb highs but not too far way (~ 130 pip) is the descending trendline from the monthly chart.

 

 

[247trader]

Slightly off topic but... I never get the logic of MA's or EMA's (admitidly I've never really looked into it much). But why pick arbitry 'x' numbers of days.

 

Why 7 or 21 for example, when the candles will only print on actual market open trading days, so why not 5 or 15 for the '1 week and 3 weeks worth'? Why three weeks anyway, and now 4?

 

Why 100 and 200 days, rather than 252 which is the number of trading days in a year (generally)?

[Caseynotes]

Hi ,  good question.  MA's are the basis of nearly all indicators you will see on any drop down list, sure they may have been through some convoluted math but the origin of most is the humble MA.

 

MA's are obviously a lagging indicator as most are but they do provide historic and up to the tick information on trend direction, and on momentum by the increasing or decreasing degree of angle of slope. They are often also used as dynamic support lines.

 

Which one to choose is the key question, the answer is to experiment to find a best fit for whatever time frame you are looking at and which market you are trading. As with any indicator you are trying to figure what the market movers are using (and they will be using them) so zoom out and see which ones are being used for support in a trend. Common favourites are 20, 50, 100, 200. SMA's tend to be used by the older traders on established markets such as stocks, EMA's tend to be used by younger traders on newer markets such as FX and crypto. 

 

This is not an exhaustive appraisal of MA's but just thoughts off the top of my head based on my own experience. No indicator will determine the future but if enough large players are using one they will become a sort of 'self fulfilling prophesy'. 

 

So again, the key is to zoom out and see if one is relevant, if not move on and look for some thing else.

[Caseynotes]

Eurodollar has moved down through trendline support, yesterday's low, and the 200 MA. Next level down is 1.2300.

 

 

[Caseynotes]

Did break down through 1.2300, now looking at prior low support level 1.2275, a successful break down here would target the weekly support level 1.2200.

 

[Caseynotes]

eurusd sitting at a pivotal point, a break either way could signal a larger move. A eurusd long is IG's 'trade of the week' but ran into trouble yesterday on new Fed chair Powell's testimony.

 

 

[Caseynotes]

Unable to progress since Jan, large daily bear candle yesterday engulfs forming a lower high following a lower low.

 

[Guest Omar_NAMOUCHI]

EURUSD trading idea;
*Watch for trend continuation for sell entry,

*Possible H&S pattern,

*Watch the bottom around 1.2160 area for long opportunity,

 

Trade with care,

Best Regards,

 

 

[Guest PandaFace]

especially with the US data of the last couple sessions  ! 

[Caseynotes]

A reversal pattern here would be in keeping with the monthly chart where price has run into trendline resistance. Will probably depend on how the US Dollar scenario plays out which is currently sitting just 100 points below major resistance having looked to have bottomed out over the last 7 weeks.

 

 

 

[Caseynotes]

Interesting break down out of range on the 1 hour chart yesterday, currently retesting the range bottom and trying to decided which why to go. FOMC decision this evening with high prediction of a rate rise so we may see euro test lower in anticipation.

 

 

 

[Caseynotes]

Looking to retest channel bottom 12181.

 

 

[Caseynotes]

Big break down into clear space.

 

 

[Caseynotes]

Will be hoping for support here at prior resistance level and 200 ma, if not the next level down is 1.1927.

 

[Caseynotes]

Back down retesting this crucial support level 11553 having got a bounce off last month now taking another look.

[Caseynotes]

Bull flag, bear flag comparison chart of eurusd and dxy, dxy closing in on long term resistance again as eurodollar heads toward the long term support level.

Daily charts;

[Caseynotes]

Looking to retest monthly support at 11507 again. Saved in May and June but a third time?

Monthly chart;

 

[Caseynotes]

The 11500 support level has gone, that was the weekly and monthly support level for the eurodollar.