COHSMAT CALABAR FORUM

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@precious123 - 5 days ago

I have taken a buy trade on EURUSD. Stop loss adjusted for breakeven because I no wan hear any story

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@asuquokelvin - 5 days ago
Quoted - precious123

I have taken a buy trade on EURUSD. Stop loss adjusted for breakeven because I no wan hear any story

My plan for Eurusd today well clear and marked out if price test the 1.13511 level and breakout above 1.13698 and retest 1.13583 and shows rejections I will go long on EURUSD my invalidation is below 1.13511 level if price breaks below there then I look for short

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@asuquokelvin - 5 days ago
Quoted - precious123

Oil prices are falling so USD will weaken and eurusd exchange rate will rise, at least for today. So, I see only buys

If oil is falling it means one thing since oil is a riskier asset then USD should be strong because dollar is a safe heaven pairs, dollar doesn't move in direct correlation with dollar, if oil is weak and dollar is strong fundamentally dollar will be stronger than us oil but if dollar is weak fundamentally and oil is weak they can both go in same direction it's just the fundamentals, I am having same buying view on eurusd but it's a scalp and short term because I am not following the overall trend which is bearish check the oil chart and dxy chart on the 5th and 12th of may and on the 7th of April you will see that dollar was weak on 7th same way usoil was weak but dollar became stronger on may while usoil was weak it's just a fundamental factor which was fed rate stance on the 29th of April look at the chart and also refer to news on that date to see

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@asuquokelvin - 5 days ago
Quoted - precious123

Okay I get you. I exited the buy at breakeven, now I have seen a sell signal so I have gone short

I also marked usdcad since it moves in same direction with dxy infact it gives a fast edge on what will happen I use it as my X3 while dxy as my lag pair to correlate Eurusd, if usdcad breaks above that high at 1.42389 and retest the box are at 1.42291 and reject I will buy with invalidation at 1.42221 and profit target of 1.42505

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@asuquokelvin - 5 days ago
Quoted - titi_nwa

But oil is traded and paid for in USD so falling oil prices means less demand for USD which can weaken USD

Check my charts examples to see clearly further studies has made me think understand that dollar and oil can move in same direction but not all the time reasons that geopolitical issue can cause oil price to drop while the economic factors of us dollar keeps it strong oil is paid for in dollar while dollar it's self is price in commodity, but economic factors can cause a change in the way they move and oil is a risky asset so if there is a risk off environment oil will definitely drop price while USD will do better check the charts for example the dates are marked out there , when policy changes it weakens or strengthen the dollar and in a risk off environment dollar perform very well that us oil , let's say during march the vix was at 35 which was a risk on environmental so many investors had bought oil and it pumped up and dollar policy was cool and slow not bad at all, then as we approach April vix had dropped to 20 and we have started entering the risk off environment and investors are taking profits for their positions on oil, and us policy was still steady no much improvement and oil was now dropping and vix got to 15 on may and us policy started changing labour sector started performing well, employment rate increased , housing costs reduced but inflation was still up, so rate must be kept steady or increase a little to fight inflation so now the us dollar is doing well and investors are pulling to it as save heaven and base on the policy changes definitely dollar will perform more better than oil and presently that's what is happening look at the chart for dollar @ 7th April and 12th April an usoil @7th april and 5th April

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@asuquokelvin - 5 days ago
Quoted - titi_nwa

But oil is traded and paid for in USD so falling oil prices means less demand for USD which can weaken USD

Read my replies carefully and then look at the image I dropped you can do your own research too on it

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@precious123 - 4 days ago

EUR/USD BUY

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@precious123 - 12 hours ago

Buying EUR/USD towards 1.14220

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