EURUSD
Resistances : 1.08050 1.08250
Supports : 1.07750 1.07200
I’ve been writing these numbers ( or very similar) almost 8 days. One can get lost in intraday swings and small moves, but when you move to a bit bigger time frame, things become clearer.
Two decades ago, I would declare fully confident that this is a Tail for Sale – but one also becomes if not smarter, but a bit wiser and way more experienced, so I am going to avoid calling big shots and stay with the reasonable.
Pattern wise, it is The Tail for Sale, so we should see a bit sharper move up, followed by even sharper decline. If happens , the main test will be the support at 1.07200…The pattern suggests that it will be broken and we’ll slide to 1.06000 area.
For a move up, serious change of the prevailing trend , we should see a sharp drop, and then we can talk about the big Bounce and change to the Up trend.
But more funny stuff have occurred on the market, and especially on this pair.
So we are going to follow it on Intraday level and when any real change happens, you’ll be the first to know.
Scorecard: GBP strongest, CHF weakest (NZD 2nd weakest) today
GBPUSD 4-hour chart
1.2655 needs to hold to keep the strong bid although GBP demand seems to be coming out of its crosses
GBPUSD daily chart
This indicates that it is still just a correction
GBPCHF 4-hour chart
Strong uptrend accelerating
Note red lines dominating (risk pointed up)
Swiss Frank
Nice call and trade on CHF weakness
This came out earlier
Swiss January CPI +1.3% vs +1.7% y/y expected
See our Economic Calendar
this krugamn character has, most of the time, entertained me
today he is both ROFLAPMP and hopefully for a change seriously informing me.
see:
–
“I wish that Democrats had been able to settle on a consensus successor a year or two ago and that Biden had been able to step aside in that successor’s favor without setting off an intraparty free-for-all. But speculating about whether that could have happened is beside the point now. It didn’t happen, and Biden is going to be the Democratic nominee.”
OPINION – PAUL KRUGMAN –
NYT 12, 2024
Why I Am Now Deeply Worried for America Feb.
kids … it is over for joe, just a matter of a dignified exit now (or not):
the pig s getting knifed by the piglet:
–
Wall Street Journal – Kamala Harris Says She Is Ready to Serve as Biden Faces Age Scrutiny
In a recent interview, the vice president cited her “capacity to lead” after stops on her abortion-rights tour.
1,753 comments
BTC Monthly Chart
I am NOT a fan of Crypto but hard to ignore the trend
Red lines dominate indicating risk was pointed up before the acceleration higher.
The break of 48,136 and brief of 50,000+ leaves a void until the major 68,915 high
I call this uncharted waters where 48,136 and 50,000 will dictate what comes next.
USDJPY Day ahead
Yen has to stay above 149.200 overnight, to be able to continue straight up. However, if loses it, support at 149.050 might give up this time and allow for a greater correction to 148.500 area.
Major support is at 147.850
If support at 149.200 holds it’s ground, it will lead the pair straight to 150.200
EURUSD Day ahead
Resistances at : 1.07800, 1.08050 and 1.08300
Supports at : 1.07550, 1.07400 and 1.07200
The difference between Tuesday and today is in possibility to see overnight slide towards supports.
Yet again we can witness euro buying , but generally we should visit 1.07200 – most important line right now – if bellow opens a road for 1.06000 area.
I prefer continued selling as long as downtrend line holds it’s ground.
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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.
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