EURUSD, Analysis (week 02/12/19): Bearish triangle?

Trading Discussion
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EUR/USD - In general the sells won last week with a bullish spike knocking out anyone that didn’t take profit.

On the technicals a bearish triangle forming/formed and maybe a bounce off the resisting MA.

Think we saw positive EUR news tip the balance against an uncertain USD which gave us a bullish spike.

I was a bit off in predicting EUR news to be a wet flannel but still managed to make gains through sells at start of the day.

Fundamentals appear quiet today so will be relying mainly on tech analysis

How do you think the pair is going to fair today? And for the week ahead? :slight_smile:

Screenshot (2324)
Screenshot (2324)1893×801 88.6 KB

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I think it’s going to be another quiet week tbh, thanks for your input though.

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Agree, definitely a slow start to the week but think mid week we’ll be picking up. Hopefully to the downside :slight_smile:

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Structure holding quite nicely so far .
I’ve pendings set few pips past your S1 .
Technicals are good :+1:

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I anticipated a down trend and my sell stop order was trigger. So far not looking good for me as it approaches my stop loss. I hope it won’t take me out and proceed as my analysis predicted.

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Two major FA events today.

First early in the day to set the tone:

PresTrumpTweet

He was referring to to his comment that “Brazil and Argentina have been presiding over a massive devaluation of their currencies.”

And so wants the Fed to do likewise.

Then came the manufacturing pmi numbers - a miss at 48.1 vs 49.2 expected.

Down goes the USD.

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going to watch the market until the morning

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Awesome analysis man, thank you for sharing.
Would you mind sharing how you do your technical analysis?

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Thanks for your analysis, I agree that it’s gonna be a quiet week.

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And down it went! Massive drop in the last few days although still within range on the daily chart so I’ll be watching it.

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Looks like a buy opportunity again.

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What caused that spike today, Trumpy?

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Yeah had to backtrack out of my sell once news spiked. Followed the buy though then ended with a sell on Friday after, so good end to week :slight_smile: You know I should really be following trump on twitter :joy:

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Yeah for good or bad this :clown_face: Trump is a huge factor for the markets.

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Aye, sometimes we forget that the market is made up of us mere humans with all our little nuances.

The Pres is big into how the market is doing, he often quotes the numbers, and he likes to see positive returns.

So imagine this, being President he gets to see the numbers before we do, US manufacturing is a big employer, quite a few voters rely on it.

Later in the day of the above twitter post the manufacturing pmi numbers were to be released - imagine him reading those numbers and then reaching for twitter - see how “manufacturers” were mentioned.

Twitter is a useful tool.

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He’s well worth following, if not for market hints then just for the pure entertainment value :rofl:

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haha the blokes nuts its scary that hes so powerful

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Look what his actions have done to Gold over the last couple of weeks

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Liking the look of EURUSD again for a long.

Has come back to the Trend line for a third hit and some horizontal support in there too.

Looking for some nice PA at current level to confirm a rejection.

EURUSD
EURUSD706×460 19.1 KB

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Not moved much today, hopefully get some decent movement tomorrow during NFP :-0