Euro YTD is 3rd strongest currency while Pound is weakest so I would only be looking to get long this pair. As long as price stays above that swing low of .7750 then the uptrend is still good. There is no clear signal here to go long or short. So it is a bit of a coin toss where price goes from here
EURAUD was good trading for the last 24 hours. I’m out now though.
we now have some back and forth action with tightening consolidation, this could lead to some nice breakout moves back in the direction of the trend, I will be watching for setups but with the weekend nearly here I will likely wait until first of the week before taking any new trades
My weekly market review video
AUDUSD is at a key price point, we gap open below the 200 day moving average, and price has moved back above the 200 dma. if today’s little blue candle turns red that would be bad for the AUD, for me I would love to see a pullback to say 0.7400 with a nice pin bar reversal at the end of the pullback. This is a short, just waiting a good risk/reward entry point
I’m with you on this one. Let’s see if we can both get a good entry.
GBP and Yen have a little dance going as to who is #1, Comdolls rebound as stock prices get back most of Friday’s losses
If T. Boone Pickens is bullish oil, then I am a buyer
https://finance.yahoo.com/news/t--boone-pickens-thinks-oil-is-going-even-higher-154609070.html#
Feels like the whole market is reversing, haven’t had any good signals these past two days with EUR and USD.
I like this little pullback in EURUSD, setting up nicely for a short entry, I did get short AUDUSD on pullback to 200 ma on 1hr chart, started out okay then pulled back again, now just sitting, I have a tight stop on this one. I am disappointed the CAD is not moving higher with oil prices , I do own some USO, I may need to add more to take advantage of rising oil if the CAD is not going to participate
Yen weakens across the board, very strange as we had a big down day in stocks, the pattern has been stocks down, yen up. I am mostly seeing a lot of consolidation, making this is the time to be patient. As a trend trader, taking trades now is a coin toss, I prefer to have the odds clearly in my favor
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What next for EURUSD, we clearly have a nice stepping uptrend that started on that big blue candle on Dec 3rd, but unlike previous higher highs, this last one ended on a very bearish pin bar reversal. I am leaning toward a move up from here, but until we get a clear reversal signal to nullify that pin bar from May 3rd, I think I will stay on the sideline at least for now
Like what you are doing here bro and by no means want to step in. But I do disagree with this statement. This pair is ranging and has been since Jan 2015. If it can break the 1.1425 mark then I think we can confirm an uptrend but we would need a hell of a lot more evidence to support this.
Hi Bob, you’re on point with your overhead resistance level, I have been following EURUSD on the weekly as well, and two weeks ago we had a pin bar rejection of the upper level of this 17 month consolidation. We could see another run at 1.14430 or it might just rollover and head back to the bottom of the range. After two daily doji’s I am just waiting to see what happens next.
and feel free to offer your insight any time, catch you later
GBPAUD and GBPCAD provided good trades for me today. Both have pulled back a bit however. Was bit scared to enter AUDUSD (your personal pair) because volatility never died down. That pair has made a good run.
Yes the Pound is killing it today, but then why shouldn’t it , GBP is #1 on my SW rankings.
AUDUSD started the day good but then bounce off the daily chart 200ma, with the US Fed talking at 2PM I may just take my 50 pips and wait to see how market reacts
This sure is looking like a Head and shoulder top with a neckline break today. when we get a pullback I will be looking for a short entry
Big move for both GBP and USD, weakness remains in AUD
US Dollar Index daily chart, look at that big reversal candle at the start of the uptrend, US dollar is a buy on any pullback against everything except the Pound
after yesterday’s big moves, today the market kind of laid back a bit.
So what do we know
Fed is back on raising interest rates
That means US dollar is going rally,
Even if oil keeps going up CAD is likely going to loose ground to the USD
Stock market hates rising interest rates so expect stocks to fall
AUD normally follow US stocks so expect AUDUSD to continue down
The fed could chance their minds, they have done it before, if stocks start selling off hard, look for fed to soften their interest stance, we will know when this happens as prices will again reverse
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GBP was weak on the day, other then that things did not change much.
Watch for my video later, lots to cover
