EURUSD

We are still trading inside the Wednesday bar. I'm waiting for the close on either side.

Let us see on Monday, when the London Opens. Happy Weekend.

I'm long at this pre-defined low, with stops below the previous close.

I decided to add to the position, because the stop is small here. It makes sense if we are to consolidate here or reverse the London move.

My position size is quite big. I'll move it to BE around 0816 once is moves above 21.

EUR/USD is in a sideways trend

0800 is an important level, we still did not close below it today. NY pushed it up.

Monthly closes today.

Short term trend is still strongly down (inverse 4H chart at London close)

If it is to push to 930x, 800 is an important level that has to hold. We could get a false break of this.

Strong close below this, would indicate sell strength for me. But I can change my mind.

For Longs, we need meaningful close above the 830x levels.

London did not close above this today, so any close above it would be meaningful.

One possibility is a false break during London of 800, and then we range below 830x. I need a PA on 15M to trade it, because if it is strongly trending down at opening, long would be difficult.

These are the scenarios I have, we could be at either end of these levels. This range on 1H, for anyone wondering.

If it is not at the edges during the session, I'll not trade it.

lots of data coming out today from Europe, also others. This could add volatility spikes to both sides.

FOMC day today, it is best to be careful.

Chart attached.

Charts:

I had attempted a Long at small consolidation on lower TF, entry at 0796. But I was stopped out of it, SL was hit at 07936.

I re-entered again at 0790 at this consolidation on 1M (second chart), I did not get the absolute low, my entry was 3 pips higher.

Reason: It was the NY open 1H low. I'm out of the position at 08141.

The opening 1H was up, so generally, the highs/lows act as important levels if the trend was to turn. So, you are able to get low stop entries.

I almost never post after the fact as you can see from my previous replies. But I could not update here live for all trades that I take.

Right now, I think we could be moving out of this consolidation (inverse 2H chart). I don't do any swing trades, so please don't trade on this.

Strong selling is coming in at up move (around London bar open). I expected the move to reverse all the previous session, but it is not (at least not right now).

If we are to go higher, the up move should try to sustain.

I will not be taking any more trades today in the NY session.

For swing traders, on DXY we are still unable to break this level (or zone if you want to call it that).

If we are able to get a close below the range, it would open up the 102.20x level on DXY.

I see 2 possible scenarios for the August month, we either continue to be in the range (that would be Dollar Long), or if we break lower (Dollar shorts). See the second attached chart.

Lot of things could happen during this time that can change things. But for now, I see these 2 possibilities.

I don't really care much about long term trend, but it does help even on Intraday level, knowing the higher levels.

For the reference, it is 2W chart of DXY. If you also look at the Monthly, you will see the same thing.

EUR/USD in an upward trend so i will go long. My SL will be set at the lowest price during the asian session which is 1.07811 as marked with the blueline

Bollinger bands indicator has been activated and its showing me the market may be oversold. I fear a downward trend may start and if so i will close early to prevent losses but let me keep watching

I've moved my SL and made it tighter. SL is now at 1.07994

TP has been set at 1.0806

SL has been hit, market is in a downward trend

We did break down on the Dollar. Quite weak data coming from the US today.

This now opens up the 102.20x level on the DXY. Refer to my previously posted chart (I posted it yesterday mentioning that I see this as possible scenario).

I did not do much today.

There was my setup today at London, but could not take it as I was not in the right mindset today. I'll stay out away right now, because I think my decisions would be bad because of missing out on my entry.

I am feeling desperate to enter because I missed the Long on London bar, which was as per my setup, so I'll just stay sidelined.

EURUSD has managed to climb back up to 0900 again after the NFP.The data out of the US is starting to show weakness. Even though it means temporary up move the dollar strength should return by September.

The upcoming weekly outlook has turned bullish with this strong up move, so first priority would be to look for longs in the next week

The areas of interest in the next week are going to be
Resistance area 0981-1032
Support area 0873-0913

i have said area because a daily bar will have to break down over an area not a line for the move to be confirmed as bearish or bullish.

Intermediate selling area is 0900, if the outlook is strongly bullish the move should not ever close below.

Any hard selling should come after the break down of 0873.

Chart attached:

Without getting into too much detail (you fill the blanks on your own, I'll not hand out my full strategy), mark the highs & lows of the Tokyo session.

It's highs & lows generally act as important pivots (not in typical pivot sense of high + low + close). If you get a break to one side of the high & lows, you can then enter position with a stop on the other side of that range.

Do note that on some days you will get false breaks on one side (mostly during the LO) & then break to the opposite side.

If you can take higher risk (but small stops), then preemptively enter when the price is inside the box during LO.

I've shared out the Tokyo bars in the chart, but only marked highs & lows of the box/range.