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Will EURUSD Rally or Drop?Talking points EURUSD may face range-bound conditions ahead of the Fed rate decision as market participants wait for the fresh forecast from Fed officials. The price bullish closed in the bearish half a bat pattern after failing to trigger a bearish signal. According to IG, 60% of trader are net short. Fundamental Forecast EURUSD is in a consolidation that's clearing the opening range for September as it holds above the yearly low (0.9864). This pair has been falling as the economic growth outlook for the eurozone continues to deteriorate in the face of the Russian gas shutdown. Inflation has been rising across the region, while the European Central Bank has been slow off the mark to raise rates. Meanwhile, the US Federal Reserve has been raising interest rates quicker and more aggressively. Therefore, the direction of the euro could depend on whether the gap between economic growth and interest rates in the US and Europe continues to widen. Technical Forecast The last price closed in the bearish half a bat patterns 1st level after bouncing off the 2nd Daily Key Lvl to closing in between the short-term moving averages. If you look closely, you'll see a small bullish half a bat pattern (right on the left) that has its neckline form part of the Mini Daily Neckline 2. That is the first signal key level that will produce a bullish uptrend to the Daily Half a Bat Neckline 2 and 50 moving average after the price has bullish broke and retested it right away or after forming another bullish reversal pattern. When the price reaches the key levels and bullish breaks and retests them, that will trigger a signal that will fully confirm the monthly counter-trend. On the other hand, if the price bearish breaks and closes/retests below the 2nd Daily Key Lvl, we'll see a small bearish head and shoulder pattern forming in the main bearish half a bat pattern. The mini head and shoulder pattern will be confirm the half a bat pattern bearish signal and upcoming 2 level trend that will likely end on the monthly's target. Those are three possible scenarios that can lead to a rally or drop Food For Thought A crucial step to take in your journey to becoming a professional trader is discovering your beliefs about the market so that your system will fit those beliefs. You must know yourself well enough to develop your personal objectives and a system that fits those objectives. And you must work on your system until you are comfortable trading it. You must know your criteria for comfort. Most people have many biases against doing it well. To overcome those biases, most people need to take some steps in their personal development. That's it for today, I hope you found value in this article. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know your thoughts! Stay Blessed, Sphatrades. _______________ Be warned This info isn't a recommendation for what you should personally do, so please don't take the data as investment advice. As with any trade, always look first, then leap.
by Doji-2k1
GBPUSD Outlook 18/08/2022From a technical perspective, spot prices now look to the monthly low, around the 1.2000 psychological mark, to offer some support. Bearish traders might need to wait for a convincing break below the said handle before positioning for any further losses. The GBP/USD pair might then accelerate the fall towards the 1.1965-1.1960 intermediate support en route to the 1.1915 region and the 1.1900 round-figure mark. Some follow-through selling would make the pair vulnerable and expose the recent daily closing lows support near the 1.1820 area.
Long
by OAurthor
4
EURGBP Aug W.2: Long-term trend alert!Hi friends, I hope y'all having a profitable week ;) Today, we're looking at a possible long-term trend that has a potential to reward us with +8%. These trade signals are derived from both the monthly and weekly. The monthly price is currently running in the bearish half a bats L1 that has last months price closed with a bearish reversal candle pattern that was followed by the current candle that is retesting the 3rd weekly key level and bearish crossed short-term m.a's to fully confirm the patterns 2 level trend. The weekly, on the other hand, has formed a bearish H&S pattern (that confirms the monthly's previous bearish reversal candle close) that has its price running in its accumulation phase above the neckline after it bounced off the 50 and bearish crossed short-term m.a's, signaling an upcoming 3 level trend. So, the monthly and weekly confirm each other for the drop, however, things can go south, meaning, the drop might not occur. With that said, let us see how the price will prove us right and wrong. Bulls: -If the price bearish bounces off the Weekly H&S Neckline with a bullish reversal candle pattern that leads it to bullish rally to break and retest the 3rd Weekly Key Lvl/Weekly Neckline 3 together with the 50 and bullish crossed short-term m.a's, the price would've formed a bullish reversal pattern (probably a double bottom) that will dis-confirm our trades (proving use wrong). Bears: -If the price bearish breaks and retest the Weekly H&S Neckline (1st trade signal) then continues to drop to break and retest the 4th Weekly Key Lvl (2nd trade signal), that will trigger what I call an "H&S A-E.3 signal" that fully confirms our trades anticipated 3 level trend (proving us right). That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section, I'd love to know your thoughts! Stay Blessed, Spha Thwala.
Short
by Doji-2k1
2
EURGBP Aug 2022 W.2: Short-term trend!Hi friends, I hope y'all are having an amazing weekend ;) Today, we're looking at a possible short-term trade signal. This trade is derived from the weekly where the price recently closed with a bullish reversal candle pattern in the H&S accumulation phase that aims to retest the 50 and bearish crossed short-term m.a's so that it will fully confirm the long-term bias of both the weekly and monthly. However, this counter-trend signal might be rejected, by having the price dramatically drop in direction of the overall trend. With that said, let us take a look at how the bulls and bears might behave in triggering our trade and dis-confirming it. Bulls: -If the price bearish bounces off the Daily Half a Bat Neckline and 8 m.a with a bullish reversal candle pattern, that will trigger out trade or confirm our bias. I call this type of trade signal a "Double Bottom B-E.1". Bears: -If the price forms a bearish reversal pattern that leads it to bearish break and retest the Daily Half a Bat Neckline together with the 50 and bearish crossed short-term m.a's, that will dis-confirm our trade or bias. The price would be preparing for the long-term trend I mentioned earlier on. That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thoughts! Stay Blessed, Spha Thwala.
Long
by Doji-2k1
USD/CHF trade - Forex.DocToday we caught this solid +62 pips trade in VIP group. I was waiting for the price to give me some signs that new lower low is about to form. We can see that after strong bullish candle, price immediately formed bearish candle followed with a strong bearish wick rejection. I was also able to connect these lows with a bearish trendline. I decided to sell and not be greedy with my take profit. I didn't want to go down to 0.95050 (previous major low) because its Friday and it was a good decision.
by SanShone
EURUSD July W.4: Short-term trend alertHi friends, I hope y'all had a fantastic weekend ;) Today, we're looking at a possible bullish short-term trend on this baby. This trend is derived from the weekly time frame that recently closed with a bullish reversal candle pattern in the mini bearish half a bats L3. Usually when the price reaches a level it counter-trends to either retest previously broken and not retested key levels or to form a reversal pattern. In this situation the price wants to do both. However, that might not happen because as you know trading is a probability game. With that said, let us discuss how the bulls and bears might behave in triggering our trades and not. Bulls: -If the price bounces off the 3rd Monthly Key Lvl and bullish crossed short-term m.a's with a bullish candle pattern formation that guides the price to bullish break and retest the (Possible) 4H H&S Neckline, that will trigger and confirm our trade signal. I call this type of trade a "H&S A-E.3 signal". Bears: -If the price bearish closes below the 3rd Monthly Key lvl, 50 and bullish crossed short-term m.a's, that will dis-confirm our bias. This is not financial advice, but if you interested in taking this trade with me, this is its signal: BUY STOP @: 1.02437 Lot Size: 0.18 S.L @: 1.02051 (-0.49%) T.P 2@: 1.03489 (+1.44%) R/R/R: 1:2 To successfully manage this trade in cutting your loss short, follow this strategy: -If the price bearish breaks and closes below the (Possible) 4H H&S Neckline, then you should close your trade. To successfully manage this trade in letting your profit run, follow this strategy: -If the price bullish breaks and retests the 2nd Daily Key Lvl, then you should move your stop loss to B.E. That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know your thought! Stay Blessed, Doji-2k1
Long
by Doji-2k1
EUR/USDwhy i think eur/usd can see higher prices - engulfing the h4 bearish breaker / order block simultaneously. 1. ECB recently increased interest rates from 0 to 0.50%, interest rate increases make it more attractive to foreign investors to hold the currency with higher interest rates as they can earn more on their investment in that currency, aswell as with the current relief risk on is seeing i would be anticipating some of that capital will be heading to the eur to take advantage of the new interest rates. - if you like smart money concepts then this long would also fill in an imbalance & in basic liquidity analysis it would also take out the sellside stop losses along with taking sell stops before price heads down, overall i do think eur/usd will head lower, but i would like to see this move play out first, Entry im looking for is $1.01100 with my stop loss at $1.00810
Long
by calelle680
1
What is Forex and How Big It Is?💱 Forex - foreign exchange market, is a location where international currencies are bought and sold by economic participants at various exchange rates. Forex market is the biggest market in the world, reaching on average 6 trillion dollars trading volumes daily. Forex market is a vital element for a global economy because it provides capital exchanges between the countries. The main market participants of forex market are central banks, commercial banks, commercial companies, hedge funds and investors. 🕰In order to grasp how big is that market, take a look what is happening on that just in 60 seconds: 📎Total transactions value reaches 3.52 billion US dollars. 📎 1.15 billion dollars of spot transactions. 📎 1.65 billion dollar of exchange swaps. 📎 Total transactions value involving USD reaches 3 billion US dollars. 📎 Total transactions value involving EURO reaches 1.1 billion US dollars. 📎 Just one single EUR/USD pair accumulates 812 million US dollars transactions value. It is hard to imagine how such big amounts are rolling with such a frequency and how insignificant are the orders of individual traders. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
OANDA:XAUUSDEducation
by VasilyTrader
6