EURUSD Analysis: Break Below Support and Potential Further Decline
The EURUSD pair has broken below the 1.0723 support level and extended its downward movement from 1.1139, reaching as low as 1.0700.
Based on this development, it is likely that further decline could be expected in the coming days, with the next target area around 1.0670, followed by 1.0600.
The initial resistance level is located at 1.0750. A breakthrough above this level could lead to a retest of the 1.0805 resistance level. If this resistance is surpassed, it may trigger additional upside movement towards the falling trend line on the 4-hour chart.
In summary, the EURUSD pair has broken below key support levels, indicating a potential continuation of the downward trend. The next targets for decline have been identified, while resistance levels have also been highlighted for potential retracements.
USDX (US Dollar Index
If you don’t trade it, why do traders track the USDX?
With the EURO representing 57.6% of the index, it can be used as a quasi EURUSD as the correlation between EzURUSD and USDX is very high.
USDX Daily Chart
New high for the year.
Trend = strong up (note rising red lines)
Targets at blue lines as long as the most recent ted Lind holds ax support
(contact me to learn more)
1.0694
USDCHF
Day ahead – might be the Play of the day
Pair broke above the channel resistance line , and based on the pattern recognition, next few bars should go straight Up.
Support is at 0.88695
Resistances at : 0.88850 , 0.8900 and 0.91150
Buying it is only reasonable action, and coupled with a very tight stop just below the support line, gives an opportunity for over the average profit.
As mentioned – coupled with a very tight stop – makes the job easy….chance for a sizeable profit with just a bit of risked money.
well well well
10-yr 4.31 …
reminds me of a acetone … paint stripper
as ‘Ugly’ and ‘disconcerting’ inflation report upsets markets’ thinking on when Fed will cut rates
I guess “ugly” is ugly to some; a beautiful thing to another
trading tactic and savvy
some forum posters have commented this topic on the forum earlier
but I am not sure how to search historical posts (bobby ??)
But how do you know when the bullishness has gone from a “strong trend” to “exuberance”?
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Do Call Skews Signal Bulls Are Maxed Out? – ref piece on zh.
IMO excellent
bobby more about likes and love
haha banks ask for help … lol
–
Romance scams are run by organized criminal gangs that set up phony social media avatars and use those to connect to potential American victims.
Once a psychological hook is set, the scammer turns the conversations to money.
“We need the social media companies to shut down these people that are putting these out there. We need law enforcement engaged to try and prosecute some of these folks,” Paul Benda of the American Bankers Association told CNBC.
a As online romance scams rise, banks ask for help to save victims billions cnbc
bobby / y. at arms lenght just a few moments ago:
Belgrade Bobby February 12, 2024 // re scores
in a theme dear to my heart on this forum (i.e. “money money and posi-pips)
a company decided, for 90 days, to open a dating application whose “entry filter is based on credit score.”
an application that makes sense to me. In a world of applications where everything is focused on physical desire, personality, all these things don’t really matter. There emperical evidence that the best match criterion in the long term is a high credit score. If you have two people who have a high credit score, it proves that they have similar values and that they will get along well.
Ditto for the forum: post money-making trade ideas and people of similar leaning towards greed will flock like flies to a cube of sugar.
OnlineBroker.Fr is the best resource for French language information on the best online trading platforms and crypto exchanges in France.
You may find this useful
What is Risk Management in Trading – Forex Forum
For any trader, managing risk is essential to success. But what exactly is risk management? In this blog post, we’ll explore what risk management is and how it can help you become a successful trader.
We’ll also look at some common mistakes that traders make when it comes to managing their risks. After all, if you’re not managing risk appropriately, you’re just a gambler. So if you’re ready to learn more about risk management, read on!
What is Risk Management in Trading?
Risk management is the process of assessing, controlling, and managing risk within a trading portfolio. This involves defining trading goals and understanding potential losses that could occur as part of the trading process.
It also includes identifying potential risks, such as market volatility or sudden changes in the market, understanding how these risks can affect your profits, and taking steps to limit potential losses.
In general, risk management should be a priority for all traders. By properly managing your risks and using effective strategies, you can minimize potential losses and increase the chances of making successful trades.
Common Mistakes When Managing Risk in Trading
Unfortunately, many traders make mistakes when it comes to managing their risks. Here are some of the most common mistakes that traders make when it comes to risk management:
Not Setting a Trading Plan:
Many traders don’t have a detailed trading plan, which is a key component of risk management. Without a trading plan, traders are more likely to take risks that could have otherwise been avoided. It’s important to establish clear trading goals and a plan for how to reach those goals.
Not Understanding Risk:
Many traders fail to understand the risks associated with certain trades, which can lead to serious losses if they don’t take the time to research and understand the risks involved. It’s important to have a thorough understanding of the markets you’re trading in before taking any risks.
Not Taking Advantage of Stop Losses:
Stop losses are an essential component of risk management, as they help to limit potential losses in the event of a market downturn or sudden changes in the market. However, many traders don’t take advantage of stop losses and end up taking larger risks than necessary.
Over-Trading:
Over-trading is a common mistake made by many traders. This involves taking too many trades, which can lead to losses if the market turns against you. Look, all traders love the price action. It’s exciting to take a position and watch your P/L go up and down. But don’t become addicted to the price action for the sake of just having a position. It’s important to only take trades when the setup is right and avoid over trading.
Not Diversifying Risk:
Diversification is another important part of risk management. By diversifying your trades, you can spread out risk and limit potential losses if the market turns against you.
Why is Risk Management Important in Trading?
Risk management is a critical factor in success when trading in the markets. It involves understanding and controlling what could potentially impact your trades and actively analyzing scenarios that may occur.
Without proper risk management, traders are leaving themselves vulnerable to potential losses which could be catastrophic for their investments.
Good risk management also allows traders to effectively assess opportunities and make better decisions that take into account volatility or leading indicators of future market performance.
Simply put, risk management can provide peace of mind so traders can enjoy the highs of profitable investments while minimizing losses when markets start to dip.
What are Some Common Risk Management Strategies?
Common risk management strategies used by traders include setting stop-loss orders, limiting capital exposure, and diversifying investments to minimize volatility.
Another essential approach for traders is to set predetermined targets for both profits and losses to help stabilize your exposure. To further limit potential losses and maximize gains, traders should always be aware of economic news and other world events that might affect the market.
How to Implement Risk Management in your Trading Plan
Implementing effective risk management into your trading plan is incredibly important for successful and profitable trading. It can help you to control the amount of draws you take in any given trade, and it can also protect against large losses which could potentially wipe out your entire trading account.
A good risk management plan should include determining the amount of capital at risk on each trade, setting predetermined stop-losses to limit downside exposure, and having a strict, disciplined approach towards minimizing losses:
never increasing position size
never risking more than you are comfortable with, and always controlling potential risk-reward ratios.
Taking the time to set up a comprehensive yet flexible risk management plan will put you in a better position when it comes to positive returns in the long run.
Risk management is an important part of trading. It allows you to trade with less stress and more confidence. There are many different risk management strategies, so it is important to find one that fits your trading style.
Proper risk management can help you make money in the long run by preserving your capital and preventing you from making careless mistakes.
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