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EUR/USD (EURO) HAS CONSOLIDATED AND IS SET TO GO ALL THE WAY UP FROM ITS PRESENT PRICE AT 1.04024 AND IT WILL GO TO AROUND 1.0500, A MOVE OF OVER 100 PIPS. I SAW THIS PROPOSED MOVE YESTERDAY WHEN PRICE CAME DOWN TO 1.039 AREA.
MARKET CAME TO THAT SUPPORT AREA AND IS ABOUT TO RETURN UPWARDS. TODAY’S VOLATILE NEWS IS GOING TO PUSH THE EURO FAR UP. B.O.E GOVERNOR BAILEY’S SPEECH TODAY IS GOING TO SHAKE THE MARKET. WE ARE EPECTING THE ACTUAL OUTCOME OF THIS NEWS TO BE HIGHER THAN THE FORCAST AND THE PREVIOUS PREDICTIONS.
LET’S WAIT AND SEE AS TIME WILL TELL. THIS IS MY EURO PREDICTION FOR TODAY’S NEWS. THANKS, TOPE AJALA, FROM NIGERIA.
EURUSD 4H
Support – trend line taken out – important is how it is going to close this bar (in 2h).
Resistances : 1.04150, 1.04250 & 1.04400
Supports: 1.03900, 1.03700 & 1.03500 ( back to that pivotal level…)
As FOMC come tonight, levels can be breached, trendlines broken, but reaction of the market tonight is going to be wild…so everything is really possible at the end of the day.
I am treating it right now as a Bearish situation and unless I see decisive move back Up , I keep selling on smaller time frames.
Insights you might now find elsewhere
This popular article in our blog is worth revisiting after looking at a EURUSD chart today
I first heard the term “feels bid in an offered market” on the Global-View.com Forex Forum many years ago. It was posted by one of our professional trader members, LA Mel, who used the term mainly for the EURUSD. However, it soon became apparent that it could be applied to all currencies and on both sides of the market (e.g. feels offered in a bid market and vice versa). I soon added to my trader toolbox and still use it today
What Does it Mean When a Currency Feels “Bid in an Offered Market?”
\XAUUSD 4 HOUR CHART – CONSOLIDATING
No change from my last update…
The bounce from the midpoint of 2725-35 support, cited well in advance here, leaves 2771 as the key level, not only blocking a run at the 2785 record high but to keeping alive a lingering risk on the downside. .
In any case, expect support as long as it trades above 2730 and the trendline.
Using my platform as a HEATMAP shows
USD Is firmer (except vs JPY but USDJPY Is still above 155)) ahead of the FOMC (and BOC) rate decisions despite lower bond yields as market is showing little fear of the Fed.
USDCAD is firmer ahead of a widely expected BoN 25bps rate cut.
AUDUSD hit after CPI raised expectations of Feb rate cut.
by next week I should start giving people signals
