EURUSD Simple Trade Plans; Pre/Post ECB News (new uptrend).
Updated
ECB deposit rate facility news comes out soon, as well as speech from the ECB in general terms relating to monetary policy.
Anything that confirms a quicker easing cycle will likely feed into a downside drip for the EURO. This comes as a near term uptrend forms on a second high.
Upside moves will rely on anything that will delay a cut (unlikely). The FED has made its position clear lately leading to real weakness around the USD.
Anything that confirms a quicker easing cycle will likely feed into a downside drip for the EURO. This comes as a near term uptrend forms on a second high.
Upside moves will rely on anything that will delay a cut (unlikely). The FED has made its position clear lately leading to real weakness around the USD.
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No change from ECB. Unsurprising reaction.Awaiting further market moves.
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EURUSD further crumbling, lock in some gains.Comment
1H TL breaking. Likely we may see a bounce given higher TF support areas we land to:Lower 1h TF,
Higher TF levels:
ECB rhetoric slightly shifting around 1 cut. Dangerous. Supports new found up trend and long bias.
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Lack of news causing a stall. Strength flowing through USD post fed comments.Comment
ECB and FED cut trajectory somewhat along the same lines, slight tentative rhetoric from ECB board members.Would not be surprised if any fall to lower side of TL takes some
Time. Support areas must be broken, longs therefore lower.
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Upside TL (1H) Broken. Push back to local MA's would assist new found downtrend to be sustained. Re shorts applicable therefore (blue circle)Comment
EUR weakness feeding in, market crumbling lower.Take some gains as approach key mid level support zone.
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Video update:
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Kill shorts.Comment
Light rejection as expected. Weak reaction for demand, ideal lower for longs.Comment
Follow through continuing, although not heavily, kill longs and re-position lower.Comment
Price Popping for reshorts.Trajectory still being followed.
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Brace for fed.Comment
Rates held. Helping EURUSD fall further.Comment
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Re-shorts applicable. Further moves likely to depend on sentiment (mixed at the moment).
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Very important pre fed update:
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