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Eurodollar

EUR/USD -28/4/2023-• Up trend intact as long as we are above the line • 20 Moving average supporting the price • Buying pressure/momentum is still bullish • Potentially, the Euro is ready to print new highs in the coming sessions • First upside target is 1.11360 followed by 1.1190 and 1.123 (61.8% of the entire 2021-2022 decline) • We might see a re-test of the ascending trend line soon before the bulls resume the rally, keep in mind markets never keep moving in one direction, expect some profit taking and correction soon
Long
by RamziAbouAbdallah-CMT
DXY -28/4/2023- Where is the Dollar heading ? • The US Dollar erased all of the gains it made from May 22 till Oct 22 • 20 Moving Average acting as a resistance, the index is unable to break it • Possible descending triangle, a bearish continuation pattern • 100.80 support has been tested multiple times, increasing the odds of the bears breaking it and selling pressure dominating • Were the bears able to break the above level, next support is the 100 psychological level followed by 99.34 and 97.70 • A break of the triangle exposes the index for a 2% move lower, taking the EUR/USD pair to 1.12-1.13 level
TVC:DXYShort
by RamziAbouAbdallah-CMT
1.1056 Weekly Level Says " Not Today " 🔊 EURUSDLondon Session -- London Volume pushed us hard back up to the Highs. Sellers caught as the Tide went out. New York Session -- "Wait for me I want buys too" London Close -- " Let's Buy I dont want to Miss out" The "Breakout" was corrected shortly after as Buyers TP and Shorts Say " wait before we breakout we must come back down to earth" . If we go up we are going to next weekly level at 1.145 If we go down this will be a triple top on the Daily Timeframe as this daily cnadle comes to a close and leaves a wick rejection failing to close above yesterdays close as Shorts begin to get crowded as we prepare for a 1.095 retest once again. GDP will give us insight on where traders are setting up their positions to hold through Firdya's CPI data. Price is fooling around at the Highs of Structure. Shaking both sides.
Short
by ShrewdCatfx
Is there an Ocean Floor? 🌊 EurUsdWe have Seen 2 Colossal moves on EU in the last Day. Yesterday was tremendous buys to begin the week as Every Session saw a bullish push up to HTF Levels and Extreme prices around 1.105. For Breakout Traders we saw a Trap near Weekly Highs at Weekly Level 1.1056. Why would you place buys up there without a Daily candle close confirmation above 1.1045 Daily level IDK to be honest. Yet it was still brutal for buyers as price dropped back to more attractive prices. I was one of the buyers but I flipped my bias bearish as mentioned in Yesterday's publishing. I stated that " For better buys one of the previous 1Hr Zones at 1.1045 or 1.1027 or if we pull back harder.. maybe we'll consider more short term downside because it is quite early in the week " . So based off this I let go of my Ego and began taking sells and it went well. Moral of the story.. follow your trading plan and utitlize tight risk management. Taking a step away from the computer and going AFK can help with psychology enormously. The brain is able to do a reset and when you return, it's in a more optimal state. With that said More Analysis : Looking for a pullback to 1.098 4Hr Zone for Asian and continuation of momentum to the downside. Observing the potential Daily Candle bearish engulfing and hard push to upside early in the week on Mondya, I like more opportunities to the downside. Weekly target is looking like 1.086 which would be a break and retest on the Weekly timeframe. 1.086 being a weekly Level. For buys I would like to see support at 1.0953, maybe consolidate and move up from there.
Short
by ShrewdCatfx