Forex Cryptocurrency General Chit Chat Thread 2019

Mr. Wood

Mr. Wood

Banned
Joined
Oct 4, 2013
Messages
26,961
Reaction score
5,127
Mon Jan 25

Tue Jan 26
Australia Holiday
7:50am BOJ Monetary Policy Meeting Minutes
3:00pm GBP Average Earnings Index +Bonus (Nov)
GBP Claimant Count Change (Dec)

Wed Jan 27
8:30am AUD CPI q/q
AUD Trimmed Mean CPI q/q
9:30pm USD Core Durable Goods Orders (MoM) (Dec)
USD Crude Oil Inventories

Thu Jan 28
3:00am USD FOMC Statement
3:30am USD FOMC Press Conference
9:30pm USD Advance GDP q/q
USD Initial Jobless Claims
11:00pm New Home Sales (Dec)
 
Mr. Wood

Mr. Wood

Banned
Joined
Oct 4, 2013
Messages
26,961
Reaction score
5,127
tvc_4d1362290f45feb65f5522fb5a7243f9.png


long term down trend target 1.19 seems to far.
bullish divergence. looking for short term long position TP ard 1.292

tvc_4da98b9a8e013e95cd52918281ea2663.png

alternatively, if short, TP first at 1.245
 
Mr. Wood

Mr. Wood

Banned
Joined
Oct 4, 2013
Messages
26,961
Reaction score
5,127
Currency Pair of the Week: EUR/USD
January 25, 2021 9:53 PM

Technically, on January 8th, EUR/USD broke lower from an ascending wedge that began in mid-October 2020. The pair retraced to horizontal support and the 38.2% Fibonacci extension from the low on November 4th, 2020 to the high on January 6th, near 1.2062. In addition, EUR/USD broke out of a flag formation (red), which targets all the way up near 1.2800. However, based on the angle of the flagpole, which is used as a target for a flag pattern after the breakout, it suggests it may take a few months to get there (remember, price rarely moves in a straight line).
9a7abdd26adf4713aa95c5246bb42002.ashx
Click to expand...
 
Mr. Wood

Mr. Wood

Banned
Joined
Oct 4, 2013
Messages
26,961
Reaction score
5,127
FOMC leaves rates unchanged as GME and TSLA steal the show: DXY, USD/JPY
January 28, 2021 6:36 AM

As stocks moved lower, the US Dollar moved higher, closing the day up near up nearly 0.5% and just below its own 200 Day Moving Average near 90.65.
d0ad209ea7f940bab679a634e8e2228a.ashx
Click to expand...

USD/JPY has been moving lower since 2015. On a daily timeframe the pair has been moving lower in a descending wedge , with a test of the bottom trendline and current low on January 6th near 102.59. After bouncing off a trendline, one would expect price to try and test the other trendline, currently near 104.45. This level now acts as next resistance and confluences with the 61.8% Fibonacci retracement level from the highs of November 11th, 2020 to the January 6th lows, as well as, the prior highs from January 11th.
659fc1993f9a4358b71b5b0c0e6878b9.ashx
Click to expand...
 
Mr. Wood

Mr. Wood

Banned
Joined
Oct 4, 2013
Messages
26,961
Reaction score
5,127
You must log in or register to reply here.
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ Forums. Forum members and moderators are responsible for their own posts. Please refer to our Community Guidelines and Standards and Terms and Conditions for more information.
Top