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Level_Trader

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About Level_Trader

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  1. No I think you misunderstood, in both scenarios I ultimately think the price is going down but it was whether we got a brief bounce first or we went straight down. We got a bounce in Feb around that 10820 level before ultimately crashing lower..
  2. Looks like its option 1) with the express lift straight towards gap fill.. @elle expecting your tag line any moment now...
  3. Yes indeed..being the most liquid and traded currency, the USD always prevails in times of major financial stress. The USD also rallied during the height of the financial crisis in '08 and of course it is the world reserve currency There's a nice article below by IG on the top 10 most traded currencies if you want to do further reading.. https://www.ig.com/uk/trading-strategies/what-are-the-top-10-most-traded-currencies-in-the-world-200115
  4. Two scenarios that could play out here... (1) the price goes straight through the 10820 level which was retested today and head for gap fill ; or (2) the price rebounds to retest the 110 area before coming back down to have another go at 10820 before breaking down to fill the gap. Demand for USD is still high and is likely to remain that way capping any upside in EUR/USD for now..
  5. USD/JPY poking its head above the 110 level...I've got 11055-60 (rising trend line) followed by gap fill at 11110 as the upside targets
  6. Relentless selling pressure on EUR/USD. The 1st October low from last year is fast approaching...
  7. I'm currently on the sidelines on this one watching to see how this plays out. Agree that the price action has been unpredictable last few days however we're beginning to approach key levels on this one. I'm of the same view as Mercury above that there is a potential shorting opportunity coming up soon... but for now the price looks like it could move a little bit higher..
  8. 110 is back in the frame..the speed at which the turnaround has occurred suggests there may be some more upside with 11050 and potentially 11100 the target if it busts through 110 and at the rate it has moved in the last 2 days.. that is a real possibility. There is a gap from the weekend on the usd dollar index (around 97) suggesting the upside is likely to be short lived. This is very much a relief rally hence why equities are soaring and the yen is getting dumped however with it being headline driven (mainly by coronavirus reports), the market could whipsaw in both directions as it has done since Friday..
  9. Testing times for EUR/USD...we're at the 110 level again. If it breaks below 10920-35 will be the next stop
  10. EUR/USD Daily; head and shoulders in play?
  11. The gap you've highlighted is also something I am keeping an eye on. Although it could go as low as 1.05 which you've also marked out.
  12. What a difference a couple of weeks make!! A false break out to the downside mainly driven by the deescalation of US - Iran tensions created a short squeeze in the Yen. Target would be gap fill at which point I expect the short sellers to return
  13. The selling on this pair has gained momentum. A break below the 200 daily moving average (108.15) is likely to see this get to around the 105 area in the medium term. Bullish consolidation from last week has firmly been negated
  14. Bullish consolidation in play ... before another move higher
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