EURUSD outlook

A
@asuquokelvin - 12 hours ago
Quoted - godspowerdan

Price has just been manipulative today

It was only reacting to the fed news which was ahead, and which actually caused the turn around in price direction which we are seeing because the ranging was just too much

A
@asuquokelvin - 12 hours ago
Quoted - godspowerdan

Yesterday's news sent EURUSD sharply higher, sweeping the protected highs of the recent bearish move.

But one thing stands out...

Price failed to take the external high.

That keeps the bearish narrative alive.

That will be achievable today because price is trading at that highs so it's best to terminate every sell reasons except price take out the support marked with the blue line

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@asuquokelvin - 12 hours ago
Quoted - godspowerdan

Momentum alone doesn't change market structure.

The news created a strong rally, but unless EURUSD clears the external high, sellers still have a case.

Watching closely for bearish continuation.

There is no need of thinking of any sells options, price has already break above other highs that were created within that range which I have marked so price is definitely bullish because

1: couldn't break below the external support below the range

2 price has actually broken above the other lower highs it created inside the range

3 price is breaking above the external high

The only point remaining is price to create a good pullback leg to create a higher low

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@asuquokelvin - 12 hours ago
Quoted - godspowerdan

I'm not chasing yesterday's bullish candle.

I'm waiting to see how price reacts after the news settles.

Structure first. Emotion last.

That's a perfect idea, I have 3 conditions

1. Price should take out the intermediate high that I mark as the external high

2. Price should pullback to the demand zone of that bullish movement

3. Shows a bullish rejection around 23.6 level

Then I will now take the trade base on the rejection reaction that I will see

A
@asuquokelvin - 12 hours ago
Quoted - nsg_usd

EU-Price replicated the volume at 1.1378 price levels, invalidating the bearish channel. A confirmed break above the key Resistance level, will further confirm the bullish narrative.

The validation is still necessary though, anything is possible, so waiting for a deep pullback is very necessary, the breaks for me is confirmed but the pullback has not been confirmed yet, so it's just to wait for price to pull back into level like 23.6 as that will be more better

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@asuquokelvin - 11 hours ago
Quoted - xellow

EUR/USD buy or sell? Which should we do because price is falling?

That is because you are looking at a lower timeframe, just wait for price to reverse to a discounted level of that bullish movement, trading is about patience okay, then when price get to that box at 38.2 to 23.6 then you look out for a rejection or go down to a lower timeframe look for a lower high that has been taken, then you wait after a bullish leg has been formed or otherwise call a higher low on that lower timeframe then you can buy on a pullback to that lower high on that lower timeframe so that is it, it's just to have patience, if we must consider sells is when price takes out the lows that started the bullish move

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@asuquokelvin - 11 hours ago
Quoted - godspowerdan

Price has finally taken out that external high, so i can comfortably look out buys

This is not a breakout it's a sweep, but already the buys has been confirmed except price breaks below the lows that started the bullish movement

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@asuquokelvin - 10 hours ago
Quoted - godspowerdan

USD pairs can be manipulative especially EU. I'll just be watching it afar until i see price either protect the highs or lows

Am not concerned on the manipulation and more concerned about my pd array levels, around 38.2 to 23.6 if price action around there doesn't show a bullish reversal when price gets there I will just leave it

A
@asuquokelvin - 10 hours ago
Quoted - godspowerdan

USD pairs can be manipulative especially EU. I'll just be watching it afar until i see price either protect the highs or lows

Am not concerned on the manipulation and more concerned about my pd array levels, around 38.2 to 23.6 if price action around there doesn't show a bullish reversal when price gets there I will just leave it

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