Will placing more buys on the little pullbacks but it’s going long for a while yet. The USD get hammered in the coming weeks
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Hammered by what? Risk-on sentiment?
True that, they will overtake China and Italy with the number infected soon I believe… Could be some good longs to be had
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They already passed them i think.
Can’t see anything other than a rise here…
look at that volume off the lows and the reaction and where it closed. defenetly a bullish enviroment in what i m concerned.
also daily chart confirms same massive buying off the lows, and we got into hat daily fib on low volume, no rejection whatsoever. so untill i m gonna see some nice volume coming of the highs rejecting some level my money is on longs. in fact i was long on friday but closed it cos of the possible gaps that may occur on sunday night.
4 shows a bulish engulfing bounce off of 200 ema(support in this case and 14 ema which i use as test for buyers in this case)
and the 1hr chart tells me we managed to close near high of the day on low volume which would suggest very few sellers and no profit taking as it was friday so the smart money are still holdng to those longs positions that they ve build up at around 1.70.
so untill something changes volume wise, i m long, or atleast that s how i see things for now.
cheers
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Good stuff. Gives us something to think about
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EUR/USD - 31/03/2020 - Was a bit off in my initial buys early on Monday, tech analysis would have steadied me in the right direction.
Called my buys before SLs hit and now awaiting my sells to hit and test the 1.08 support.
German retail sales and Euro unemployment rate to come out tomorrow may show decline and push pair further down.
Think we may see more weakness in USD when/if full lockdown of country comes into play.
How are you guys seeing it? 
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Didn’t expect that recent drop either
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It’s a sell on every time frame. Subject to news coming out of US.
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so far i can t see the shorts piling up.
cheers
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Not the best looking pair to trade and not one I am actively looking to take, but personally have a long bias, possibly back up to trend line on daily.
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Where do you see the pair dropping too?
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Think we will see the push up to the 1.10 mark and then i will be looking for the sell
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Still long for me and just presented a nice buy in with a bounce of the support level.
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Won on this trade last week
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My bias is to the upside, but anything could happen at the moment. I’m just making sure that i’m keeping my risk management tight.
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hey everyone
I’ve spent many hours researching forex trading for a while now and I feel I have a good understanding on market structure, price patterns, candlestick patterns and the commonly used indicators such as the moving average, stochastics, RSI, ADX etc. However, I’m struggling to use the information to help me find high probability setups to build a strategy that I can go and backtest to work out whether they would be worth adding to a trading plan that I can test out on a demo account.
Each time I go to look at a chart (I’m currently looking at EUR/USD as I want to focus on one currency pair at a time to fully understand how each market moves) I don’t really know where to begin. I understand the first thing a trader needs to understand is what sort of market they are trading (trending, ranging) but I don’t really know where to go from there.
If anyone got any tips/information that could help me out I would greatly appreciate it.
Wish everyone the best of luck with their trading!
EUR/USD - 02/04/2020 - Still holding shorts on this and eying more.
Going to be paying close attention to USD initial jobless claims at 12:30 as expecting it to be considerably high though EUR PPI will also be quite low.
Just expecting all news to be negative for both currencies so eying price action and eying pair to break bellow the 1.09 mark.
If no gains made on run up to 12-12:30gmt will be eying the buys.
How is everyone else trading today?
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fantastic analysis as per usual, thanks for sharing. i am trading this pair myself today lets see what happens.
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