DXY, EURUSD, GBPUSD Daily Forecasts

[MauMau4]

2020/12/20

NOTE: From now through week 1 of January, I do not trade. I will continue to provide forecasts. However please note that Institutional money is also on vacation during this time which makes price less predictable.

No forecasts on New Year’s Eve and New Year’s Day

DXY
D1

• Liquidity
  Above 91.25
  Below 89.75 … dipped in today but still more there for the draw

Bias – Bearish
Resistance 90.20
Support 89.00

H1
Resistance 90.10
Support 89.65

For the week, I am look for the liquidity and sell stops below 88.25 to be the big draw for a bearish week on the dollar.

The Dollar dipped into the D1 liquidity and then bounced higher into the H1 liquidity. I am looking for this liquidity area to act as resistance and push price lower today, reaching back into the D1 liquidity below 89.75.

EURUSD
D1

• Liquidity
  Above 1.2275 – taken today … next draw is 1.2550
  Below 1.2130

Bias – Bullish
Resistance 1.2250 (weekly level) … Price cycling around this level for a few days now. Next level at 1.2330
Support 1.2150

H1
Resistance 1.2250 (weekly level)
Support 1.2250 … conflicts with the W1 resistance but this could be the battle ground.

For the week, the 1.2415 liquidity should be the draw to push price higher. But … price right now is in a W1 resistance area. Two consecutive weeks have seen this level hold. Only after pushing through will I be truly bullish.

Interesting … Price today took the D1 liquidity and has since dropped back down to today’s opening price. Could this be the run that took the liquidity and then we see the EURUSD begin to move lower? I’m already on the sidelines this time of year, but if I were not, I would definitely move there. Sitting at a W1 resistance level after taking a strong liquidity area … hmmm … price could go either direction. I move above today’s high and will be bullish again. Not until price drops below 1.2150 will I be bearish.

GBPUSD
D1

• Liquidity
  Above 1.3625
  Below 1.3130

Bias – Bullish
Resistance 1.3760 (monthly level) and 1.3800 (Weekly level)
Support 1.3360

H1
Resistance 1.3580
Support 1.3510

Looking for weekly pricing to potentially reach as high as 1.3800 filing in W1 liquidity AND hitting W1 resistance.

With price still in consolidation, a move down to H1 support at 1.3510, taking the liquidity area just before it, and then a bounce up to H1 resistance at 1.3580 is what I would look for today. Note that the weekly opening price at 1.3560 will also act as resistance though.

[MauMau4]

2020/12/30 Recap

DXY – Bearish day. Price moved almost to script. The H1 liquidity draw did act as resistance and we saw price move well into the D1 liquidity and make the low of the day at 89.55. That weekly draw towards 88.25 is working well.

EURUSD – Bullish day. The H1 support at 1.2250 held price and pushed it higher up through the D1 liquidity and staying above the discount side of the W1 resistance level. Price is looking bullish staying above this level. Will keep watching to see what happens next week.

GBPUSD – Strong Bullish day closing near the high. For the day, price reached the W1 liquidity. Today, price has moved into this area. The daily/weekly draw on price pushed it right through the H1 resistance at 1.3580.

[MauMau4]

2020/12/31

No forecast today

Happy New Year! Be safe.

[MauMau4]

2021/01/04

NOTE: No trades this week. I will continue to provide forecasts. However please note that Institutional money is also on vacation during this time which makes price less predictable.

No forecasts on New Year’s Eve and New Year’s Day

DXY
D1

• Liquidity
  Above 91.25
  Below 89.25 nearest draw … 88.25 biggest draw

Bias – Bearish
Resistance 89.80
Support 89.00

H1
Resistance 89.70
Support 89.00

I am very bearish on the dollar long term. Although the remaining 2 weeks of Trump’s term could change that depending on what he does and how the markets react. On the monthly chart there is a large liquidity draw below 88.25 then followed by support at 86.60. We could see some support at 88.60, however this area has already been tapped into, so I do not expect to reject price any longer.

On the weekly chart, we have the same liquidity draw and confluence of support at 86.65. For long term view on the dollar, I am looking for it to reach down to 86.60 area.

Today I will be looking for a retracement up to the H1 resistance at 89.70 and then move lower to grab the liquidity at 89.25 and ultimately D1 support at 89.00.

EURUSD
D1

• Liquidity
  Above 1.2550
  Below 1.2130

Bias – Bullish
Resistance 1.2330
Support 1.2150

H1
Resistance 1.2330
Support 1.2260

For the week, looking for the liquidity above 1.2550 to be the main draw. However, price is sitting in a W1 resistance area. Last week, price went above this area but ultimately closed below. Today we are currently above, so we will need to watch price closely.

In confluence with the dollar, would like to see the EURUSD retrace to H1 support at 1.2260 and then move higher up into the H1 liquidity above 1.2310 and into the D1 resistance at 1.2330.

GBPUSD
D1

• Liquidity
  Above 1.3790
  Below 1.3130

Bias – No view … Looks to be consolidation or even bearish
Resistance 1.3790
Support 1.3565

H1
Resistance 1.3790
Support 1.3510

Targeting liquidity above 1.3790.

EURGBP is moving higher along with the EURUSD. So we could see GBPUSD in consolidation or even bearish today.

[MauMau4]

2021/0104 Recap

DXY – Bearish day but closed near the open/high. Price continued lower from my posting time, taking H1 liquidity and last week’s low at 89.50. Then retrace up. For trading, this initial move lower would invalidate my original forecast. We then say price move higher, right through the H1 and D1 resistance, filling in the gap from last week’s closing price, consolidate, and move lower today … finding support at the weekly opening price.

EURUSD – Bullish day but gave up most of the those gains in the NY session. The H1 liquidity area acted as resistance, pushing price lower through the H1 and D1 supports. The NY midnight open created some support, where price consolidated and then moved higher today.

GBPUSD – Bearish day. Price broke out of the consolidation and dropped right into the D1 support before moving higher today.

[MauMau4]

2021/01/05

NOTE: No trades this week. I will continue to provide forecasts. However please note that Institutional money is also on vacation during this time which makes price less predictable.

DXY
D1

• Liquidity
  Above 91.25
  Below 89.25 nearest draw … 88.25 biggest draw

Bias – No view today or tomorrow
Resistance 90.20
Support 89.00

H1
Resistance 90.10
Support 89.00

I am very bearish on the dollar long term. Although the remaining 2 weeks of Trump’s term could change that depending on what he does and how the markets react. On the monthly chart there is a large liquidity draw below 88.25 then followed by support at 86.60. We could see some support at 88.60, however this area has already been tapped into, so I do not expect to reject price any longer.

On the weekly chart, we have the same liquidity draw and confluence of support at 86.65. For long term view on the dollar, I am looking for it to reach down to 86.60 area.

A liquidity draw is developing above 90.00, right around the prior D1 resistance area. Will have to watch this area to see what happens the next couple days. With the Georgia vote today and Electorate confirmation tomorrow … ANYTHING can happen.

EURUSD
D1

• Liquidity
  Above 1.2550
  Below 1.2130

Bias – No view today or tomorrow
Resistance 1.2330
Support 1.2150

H1
Resistance 1.2300
Support 1.2215

For the week, looking for the liquidity above 1.2550 to be the main draw. However, price is sitting in a W1 resistance area. Last week, price went above this area but ultimately closed below. Today we are currently above, so we will need to watch price closely.

The 1.2300 level looks like a good spot to form the high today … on a normal day but we shall see.

GBPUSD
D1

• Liquidity
  Above 1.3790
  Below 1.3130

Bias – No view today or tomorrow
Resistance 1.3790
Support 1.3565

H1
Resistance 1.3675
Support 1.3510

Targeting liquidity above 1.3790.

Price could go either direction today. There are decent hourly draws on both sides of price right now.

[MauMau4]

2021/01/05 Recap

DXY – Bearish day closing near the low. The NY midnight open acted as resistance and kept price lower on the day. Yesterday was an inside day. So potentially looking for expansion in today price action. None of the forecasted levels were tested yesterday.

EURUSD – Bullish day closing near the high. Price consolidated around the H1 support at 1.2300 and then moved higher to take the H1 liquidity in today’s action.

EDIT: Forgot to add that the high of day came in at 1.2305. I missed it by 5 pips.

GBPUSD – Bullish day. Saw D1 support at 1.3565 hold and push price higher into the H1 liquidity. Price has since moved higher today and testing the weekly opening price as resistance.

[MauMau4]

2021/01/06

NOTE: No trades this week. I will continue to provide forecasts. However please note that Institutional money is also on vacation during this time which makes price less predictable.

DXY
D1

• Liquidity
  Above 90.00
  Below 88.25

Bias – No view today or tomorrow
Resistance 90.20
Support 89.00

H1
Resistance 89.45
Support 89.00

I am very bearish on the dollar long term. Although the remaining 2 weeks of Trump’s term could change that depending on what he does and how the markets react. On the monthly chart there is a large liquidity draw below 88.25 then followed by support at 86.60. We could see some support at 88.60, however this area has already been tapped into, so I do not expect to reject price any longer.

On the weekly chart, we have the same liquidity draw and confluence of support at 86.65. For long term view on the dollar, I am looking for it to reach down to 86.60 area.

The dollar already bounced off the 89.60 resistance level today, driving price lower. Still looking for the liquidity draw at 88.25.

EURUSD
D1

• Liquidity
  Above 1.2550
  Below 1.2130

Bias – No view today or tomorrow
Resistance 1.2355
Support 1.2300

H1
Resistance 1.2355
Support 1.2310

For the week, looking for the liquidity above 1.2550 to be the main draw. However, price is sitting in a W1 resistance area. Last week, price went above this area but ultimately closed below. Today we are currently above, so we will need to watch price closely.

Potentially small range today due to the close D1 resistance and support levels. But US elections could still have an impact on the dollar. So no forecast today, but watch the levels and study.

GBPUSD
D1

• Liquidity
  Above 1.3790
  Below 1.3130

Bias – No view today or tomorrow
Resistance 1.3790
Support 1.3565

H1
Resistance 1.3675
Support 1.3510

Targeting liquidity above 1.3790.

Currently in a W1 liquidity area. Could see price continue moving higher, eating up the liquidity, towards the next liquidity area at 1.3790. Price is at the H1 resistance area now of 1.3675. Not expecting this to hold but could see a small retrace and then push through it.

[MauMau4]

2021/01/06 Recap

DXY – Mid range candle. Price shot up from where I posted yesterday. It found resistance at the weekly opening price and came right back down.

EURUSD – Bullish day. Price stayed below the D1 resistance at 1.2355. H1 levels unfortunately mean nothing in this current political environment and with institutional money still sitting out.

GBPUSD – Med range candle. The weekly opening price and H1 resistance at 1.3675 kept price lower on the day, driving down to D1 support at 1.3565 area.

[MauMau4]

2021/12/07

NOTE: No trades this week. I will continue to provide forecasts. However please note that Institutional money is also on vacation during this time which makes price less predictable.

DXY
D1

• Liquidity
  Above 90.00
  Below 89.20

Bias – No view
Resistance 90.20
Support 89.00

H1
Resistance 90.10
Support 89.50

I am very bearish on the dollar long term. Although the remaining 2 weeks of Trump’s term could change that depending on what he does and how the markets react. On the monthly chart there is a large liquidity draw below 88.25 then followed by support at 86.60. We could see some support at 88.60, however this area has already been tapped into, so I do not expect to reject price any longer.

On the weekly chart, we have the same liquidity draw and confluence of support at 86.65. For long term view on the dollar, I am looking for it to reach down to 86.60 area.

Still have too much going on with the electoral process that could affect price. However, the D1 Liquidity above 90.00 is a big draw today. Looking for price to potentially pass through the H1 resistance and at least reach the D1 support at 90.20.

EURUSD
D1

• Liquidity
  Above 1.2550
  Below 1.2130

Bias – No view
Resistance 1.2355
Support 1.2150 … already hit once so weak

H1
Resistance 1.2280
Support 1.2215 … confluence with weekly opening price

For the week, looking for the liquidity above 1.2550 to be the main draw. However, price is sitting in a W1 resistance area. Last week, price went above this area but ultimately closed below. Today we are currently above, so we will need to watch price closely.

Very possible the low of the day is in on the EURUSD right now. Looking for a possible retrace higher and test the H1 resistance levels.

GBPUSD
D1

• Liquidity
  Above 1.3790
  Below 1.3130

Bias – No view
Resistance 1.3790
Support 1.3565

H1
Resistance 1.3675
Support 1.3510

Targeting liquidity above 1.3790.

That D1 support at 1.3565 has held price up for a few days now. Could today be the day if finally gives way? GBPUSD has been in consolidation for most of the week. Will be looking for something to give. With my bias on dollar still bearish, ideally looking for the GBPUSD to move higher. But a break of that D1 support is quite possible. If so, maybe we see price move down to 1.3360 and then move higher with a dollar drop.

[MauMau4]

2021/01/07 Recap

DXY – Bullish day. Price consolidated just below the D1 liquidity area above 90.00 yesterday but has reached into today and rejected lower.

EURUSD – Bearish day. Price did indeed make the low of the day right where I called it. Also saw that nice retracement up to the H1 resistance at 1.2280 then back down to the low of the day again. Potential 30+ pips available for trading there. But no trading this week due to holidays, elections, AND Friday NFP.

GBPUSD – Bearish day. Still moving sideways. And that D1 support at 1.3565 continues supporting price. Yes, price as wicked through it, but we have yet to see a daily open or close below. Retail traders are seeing a shelf develop and will be looking to sell a breakout lower or buy off the support. What is institutional money going to do??

[MauMau4]

2021/01/08

NOTE: No trades this week. I will continue to provide forecasts. However please note that Institutional money is also on vacation during this time which makes price less predictable.

DXY
D1

• Liquidity
  Above 90.40
  Below 89.20

Bias – No view
Resistance 90.20
Support 89.00

H1
Resistance 90.30
Support 89.50

I am very bearish on the dollar long term. Although the remaining 2 weeks of Trump’s term could change that depending on what he does and how the markets react. On the monthly chart there is a large liquidity draw below 88.25 then followed by support at 86.60. We could see some support at 88.60, however this area has already been tapped into, so I do not expect to reject price any longer.

Price took the D1 liquidity from prior forecasts. The new D1 liquidity is above 90.40. We saw a nice bounce of H1 resistance at 90.10. Will see if the support at 89.90 and NY midnight open hold price up. Not trading, but a possible scenario is a bounce of the H1 support and move up to the D1 resistance/H1 Liquidity. Maybe NFP will play this out.

EURUSD
D1

• Liquidity
  Above 1.2550
  Below 1.2210

Bias – No view
Resistance 1.2355
Support 1.2150 … already hit once so weak

H1
Resistance 1.2260
Support 1.2215 … confluence with weekly opening price … next is D1 1.2150

For the week, looking for the liquidity above 1.2550 to be the main draw. However, price is sitting in a W1 resistance area. Last week, price went above this area but ultimately closed below. Today we are currently above, so we will need to watch price closely.

Nice H1 support bounce at 1.2215. In confluence with the dollar, possible retrace up to H1 resistance at 1.2260 then move lower toward the D1 liquidity below 1.2220.

GBPUSD
D1

• Liquidity
  Above 1.3700
  Below 1.3130

Bias – No view
Resistance 1.3800
Support 1.3565 … still supporting price

H1
Resistance 1.3675
Support 1.3510

That D1 support at 1.3565 is continuing to support price. This means lots of sell stops are building below this level as retail traders see this supporting price and pushing it higher. Sell stops = liquidity. Will NFP finally take this liquidity today??

[MauMau4]

2021/01/08 Recap

DXY – Bullish day. Price did drop from the H1 resistance; however, it did push through the H1 support and NY midnight open down into the H1 liquidity. Then right back up into the higher H1 liquidity and D1 resistance at 90.20.

EURUSD – Bearish day. Price moved higher from the H1 support into an H1 resistance at 1.2280 (not called out in forecast). From there, price dropped right into the D1 liquidity below 1.2210.

GBPUSD – Bearish day. That D1 support at 1.3565 is still holding strong. So much liquidity below this level.

[MauMau4]

2021/01/11

NOTE: Trading in January will be limited. This is a low probability month as institutional money is slowly returning.

Keep in mind that political drama in the US will still be a factor. Either impeaching or using the 25th Amendment to get rid of Trump will have market implications. Rioting will potentially continue. And anything can happen on the 20th during inauguration of Biden. So please be careful with your trading and risk.

DXY
D1

• Liquidity
  Above 90.40
  Below 89.20

Bias – Bullish
Resistance 90.90
Support 89.10 (Monthly level)

H1
Resistance 90.55
Support 89.50

Long term, I am still bearish on the dollar. We did, however, approach a weekly support level at 89.00 and moved higher from that level. Could potentially see a move higher into the W1 liquidity above 91.25 before resuming the downward trend.

We gapped up to open the week, dipped into the D1 liquidity above 90.40, and then moved sideways. I’ll be looking for price to retrace backdown into the gap and fill at least some of the H1 liquidity then move higher back into the D1 liquidity and at least to the H1 support at 90.55.

EURUSD
D1

• Liquidity
  Above 1.2350
  Below 1.2130

Bias – Bearish
Resistance 1.2355
Support 1.2105

H1
Resistance 1.2195 … already hit
Support 1.2150

Long term bullish on the EURUSD. We are seeing long wicks on the high side, indicating selling pressure along with confluence of long wicks to the downside on the dollar, indicating buying pressure. Therefore, we could see a pullback in the short term. That pullback would reach for the W1 liquidity below 1.2060. There is also W1 support at 1.1860, accompanied by a small liquidity area just prior. This this the type of setup I look for when trading.

Price really looks like it wants to move lower today. It has already rejected the H1 resistance at 1.2195 and is right now move below the NY midnight open price. While there is H1 support at 1.2150, I do not expect it to be strong, considering there is a D1 liquidity draw so close at 1.2130. Looking for price to move into this liquidity today.

GBPUSD
D1

• Liquidity
  Above 1.3700
  Below 1.3430

Bias – Bearish
Resistance 1.3800
Support 1.3360

H1
Resistance 1.3555
Support 1.3360 (daily)

Long term bullish on the GBPUSD. Must keep an eye on the results of Brexit though and all the fallout from the agreements reached. There really is not strong weekly support until we get down to the 1.3075 area. Unlike the EURUSD, the wicks on the GBPUSD or more on the downside, showing divergence. That could be due to the support shelf on the EURGBP at 0.8865. A break of this level could send the GBP higher and the EUR lower.

The D1 support at 1.3565 finally gave way today with an 80 pip move below. GBPUSD has not shown convincing order flow. This is a pair I am definitely staying away from until we get some consistency and decisive movement. With that being said, I am looking for price to continue moving lower today. Could see a retracement up to the H1 resistance at 1.3555, taking the liquidity draw, and then move lower towards the D1 support at 1.3360.

[MauMau4]

2024/01/11 Recap

DXY – Bullish day. Did not get the retracement I wanted; however, price did move in the direction forecasted. It took the D1 liquidity above 90.40, then consolidated in that same range.

EURUSD – Bearish day. Same as the dollar. Did not get the retracement, but price moved towards the area forecasted almost reaching the D1 liquidity below 1.2130 and then moved into consolidation.

GBPUSD – Bearish day. Price did indeed move lower on before retracing back up to the H1 Resistance and then into consolidation. For today, price is at the H1 resistance level of 1.3555.

Note: edit was to add screenshot of GBPUSD that I forgot.

[MauMau4]

2021/01/12

NOTE: Trading in January will be limited. This is a low probability month as institutional money is slowly returning.

Keep in mind that political drama in the US will still be a factor. Either impeaching or using the 25th Amendment to get rid of Trump will have market implications. Rioting will potentially continue. And anything can happen on the 20th during inauguration of Biden. So please be careful with your trading and risk.

DXY
D1

• Liquidity
  Above 91.25
  Below 89.20

Bias – Bearish
Resistance 90.90
Support 89.95

H1
Resistance 90.90 (Daily)
Support 89.50

Long term, I am still bearish on the dollar. We did, however, approach a weekly support level at 89.00 and moved higher from that level. Could potentially see a move higher into the W1 liquidity above 91.25 before resuming the downward trend.

Looking for the dollar to move lower today and take the H1 and D1 liquidity which is immediately followed by D1 support at 89.95. Not looking for a retrace up before the moved down today from where price is now. But a scenario I would be looking for is price to drop and touch H1 liquidity then retrace up to 90.40 which could be hourly support if we do get the move away first. From there I would target the D1 Support.

EURUSD
D1

• Liquidity
  Above 1.2350
  Below 1.2130

Bias – Bullish to flat
Resistance 1.2325
Support 1.2010

H1
Resistance 1.2195 … already hit
Support 1.2005

Long term bullish on the EURUSD. We are seeing long wicks on the high side, indicating selling pressure along with confluence of long wicks to the downside on the dollar, indicating buying pressure. Therefore, we could see a pullback in the short term. That pullback would reach for the W1 liquidity below 1.2060. There is also W1 support at 1.1860, accompanied by a small liquidity area just prior. This this the type of setup I look for when trading.

Could see the EURUSD in consolidation today. With a dollar drop, this would allow the GBPUSD to climb. The EURGBP looks very heavy and bearish.

GBPUSD
D1

• Liquidity
  Above 1.3700
  Below 1.3430

Bias – Bearish
Resistance 1.3800
Support 1.3360

H1
Resistance 1.3675
Support 1.3570

Long term bullish on the GBPUSD. Must keep an eye on the results of Brexit though and all the fallout from the agreements reached. There really is not strong weekly support until we get down to the 1.3075 area. Unlike the EURUSD, the wicks on the GBPUSD or more on the downside, showing divergence. That could be due to the support shelf on the EURGBP at 0.8865. A break of this level could send the GBP higher and the EUR lower.

With the EURGBP price action as described above, I am looking for a move to the upside on the GBPUSD. Today I will be looking for a retrace to H1 support at 1.3570 then a move higher towards the W1 liquidity. But keep and eye on the H1 resistance at 1.3675.

[MauMau4]

2012/01/12 Recap

DXY – Bearish day. Almost to script on this price action. Price stayed consolidated then moved down to take the H1 liquidity and close the day just above the D1 liquidity. Today, that liquidity was taken, and price is at the D1 support of 89.95.

EURUSD – Bullish day. Price stayed in consolidation around the NY midnight open and then around the opening of the Stock exchange, shot up and took out the H1 resistance and the liquidity just above it. Currently in consolidation just below the weekly open price.

GBPUSD – Big bullish day. I incorrectly listed my bias as bearish for the GBPUSD. Error on my part. But if you look at the comments on expected price action, you will see I was very bullish on this pair. And price almost went to script here too. We did not get the full retrace to the H1 support at 1.3570, but we did see price move higher, up to the H1 resistance at 1.3675 and consolidate for the remainder of the day. Today, it has moved up to the W1 liquidity as forecasted.

[MauMau4]

2021/01/13

NOTE: Trading in January will be limited. This is a low probability month as institutional money is slowly returning.

Keep in mind that political drama in the US will still be a factor. Either impeaching or using the 25th Amendment to get rid of Trump will have market implications. Rioting will potentially continue. And anything can happen on the 20th during inauguration of Biden. So please be careful with your trading and risk.

DXY
D1

• Liquidity
  Above 91.25
  Below 89.20

Bias – Undecided
Resistance 90.90
Support 89.95

H1
Resistance 90.30
Support 89.50

Long term, I am still bearish on the dollar. We did, however, approach a weekly support level at 89.00 and moved higher from that level. Could potentially see a move higher into the W1 liquidity above 91.25 before resuming the downward trend.

Price has taken a nice bounce of our D1 support at 89.95. It has moved higher into H1 liquidity with H1 resistance right after at 90.30. When price could move either direction, I have no bias and therefor no trades.

Bearish scenario: Hit the H1 resistance at 90.30 and then move lower, breaking the D1 support and ultimately reaching for the D1 liquidity below 89.20.

Bullish scenario: The bounce of D1 is strong and pushes price higher, through the H1 liquidity and support, reaching for the D1 resistance at 90.90 and ultimately the weekly liquidity above 91.25.

NOTE: This is ideally the bullish scenario I would like to see playout before Biden takes office. The D1 resistance at 91.20 is looks to be a really good area for price to reverse and move lower, especially with the multi-billion dollar stimulus package he wants to rollout.

EURUSD
D1

• Liquidity
  Above 1.2350
  Below 1.2130

Bias – Flat
Resistance 1.2325
Support 1.2005

H1
Resistance 1.2210 (NY midnight open)
Support 1.2160

Long term bullish on the EURUSD. We are seeing long wicks on the high side, indicating selling pressure along with confluence of long wicks to the downside on the dollar, indicating buying pressure. Therefore, we could see a pullback in the short term. That pullback would reach for the W1 liquidity below 1.2060. There is also W1 support at 1.1860, accompanied by a small liquidity area just prior. This this the type of setup I look for when trading.

The dollar movement could completely change what I see on the EURUSD. For now though, a move down to the H1 support at 1.2160 forming the low of the day and then retrace back up to the NY midnight open at 1.2210 is what I will be looking for. There is also resistance from the weekly open price at 1.2220.

GBPUSD
D1

• Liquidity
  Above 1.3700
  Below 1.3450

Bias – Bullish
Resistance 1.3800
Support 1.3570

H1
Resistance 1.3675
Support ALOT

Long term bullish on the GBPUSD. Must keep an eye on the results of Brexit though and all the fallout from the agreements reached. There really is not strong weekly support until we get down to the 1.3075 area. Unlike the EURUSD, the wicks on the GBPUSD or more on the downside, showing divergence. That could be due to the support shelf on the EURGBP at 0.8865. A break of this level could send the GBP higher and the EUR lower.

The EURGBP is getting closer and closer to that shelf at 0.8865. There is too much weight for this level to continue supporting price … in the mind of the retail trader. Smart money knows this … hmmm …. If price falls below this level, I would like for a potential reversal around 0.8800 level.

There is now a ton of hourly support for price. Please refer to the chart to see them. Really do not see the GBPUSD dropping much if any today. Looking for anyone of the these H1 support areas, and if necessary the D1 support at 1.3570 to keep price from dropping today.

[MauMau4]

2021/01/13 Recap

DXY – Bullish day. Price reached the H1 resistance at 90.30 and then went into consolidation. This is why I was undecided on price from posting time yesterday. There really was no indication of a draw on price in either direction.

EURUSD – Bearish day. Well that was an interesting day. Price hit stalled at the 1.2160 support that I felt would be the low of the day and then took a quick shot lower. With the dollar in consolidation and the EURGBP dropping, I expected this pair to remain relatively flat and the GBPUSD to rise.

GBPUSD – Bearish/consolidation day. Expected this pair to rise today, but the EURUSD had more movement. This pair actually dropped through the first H1 support but was held up by the liquidity at 1.3620.

[MauMau4]

2021/01/14

NOTE: Trading in January will be limited. This is a low probability month as institutional money is slowly returning.

Keep in mind that political drama in the US will still be a factor. Either impeaching or using the 25th Amendment to get rid of Trump will have market implications. Rioting will potentially continue. And anything can happen on the 20th during inauguration of Biden. So please be careful with your trading and risk.

DXY
D1

• Liquidity
  Above 91.25
  Below 89.20

Bias – Bearish
Resistance 90.90
Support 89.95

H1
Resistance 90.90 (Daily)
Support 90.00

Long term, I am still bearish on the dollar. We did, however, approach a weekly support level at 89.00 and moved higher from that level. Could potentially see a move higher into the W1 liquidity above 91.25 before resuming the downward trend.

We have seen a couple nice rejections from some H1 resistance levels today already. Because of this, I am bearish on the dollar today. Looking for it reach for the H1 and D1 support at the 90.00 level. Depending on price action prior to the NY session, we could possibly see an H1 resistance level form at 90.25. If so, I would be looking at a retrace to hear then down to the D1 support and possibly further since it was already hit yesterday. The NY midnight open at 90.35 is also a resistance level to watch for a retrace to then down to D1 support.

EURUSD
D1

• Liquidity
  Above 1.2350
  Below 1.2130

Bias – Bullish
Resistance 1.2245
Support 1.2005

H1
Resistance 1.2203
Support 1.2130

Long term bullish on the EURUSD. We are seeing long wicks on the high side, indicating selling pressure along with confluence of long wicks to the downside on the dollar, indicating buying pressure. Therefore, we could see a pullback in the short term. That pullback would reach for the W1 liquidity below 1.2060. There is also W1 support at 1.1860, accompanied by a small liquidity area just prior. This this the type of setup I look for when trading.

There is a ton of liquidity building below 1.2130. At some point, the market will take it. However, today, it looks like price will move higher. Looking for a bounce of the NY midnight open at 1.2150 and then move higher towards the D1 resistance at 1.2245. BUT … price could easily move lower at take that D1 liquidity … this is such a big draw right now.

GBPUSD
D1

• Liquidity
  Above 1.3700
  Below 1.3450

Bias – Bullish
Resistance 1.3800
Support 1.3570

H1
Resistance 1.3700
Support 1.3603

Long term bullish on the GBPUSD. Must keep an eye on the results of Brexit though and all the fallout from the agreements reached. There really is not strong weekly support until we get down to the 1.3075 area. Unlike the EURUSD, the wicks on the GBPUSD or more on the downside, showing divergence. That could be due to the support shelf on the EURGBP at 0.8865. A break of this level could send the GBP higher and the EUR lower.

Price recently rejected from an H1 resistance level at 1.3670. Looking price to potentially move lower and bounce of either the NY midnight open or the H1 support at 1.3603 then move higher towards the W1 liquidity.