So, the purple line supported twice and now up we go. Next resistance is the blue line at 1.1756 area. Let's watch and see how this unfolds. I can add more shorts up there. image image

EURUSD

Good luck with that! If we get a short squeeze for Christmas, it would be interesting to see for sure! But Christmas is still 2 weeks away. A lot can happen before then.

Cable Update (GBPUSD)

I decided to draw a new bullish trend line (blue) to see if price respects it if the bears break down through the purple line today. (It looks like they are trying to get set up to break through now.) It would coincide with 1.16434 area at 1:00 p.m. ...

EURUSD

I decided to draw a new bullish trend line (blue) to see if price respects it if the bears break down through the purple line today. (It looks like they are trying to get set up to break through now.) It would coincide with 1.16434 area at 1:00 p.m. ...

Only EURUSD

I am continually amazed how well the lines I've drawn behave as barriers in both directions. In the 15 minute chart, see how the purple line resisted at first, right after FOMC? But then the volatility became too aggressive, so it broke through. And ...

Only EURUSD

I am continually amazed how well the lines I've drawn behave as barriers in both directions. In the 15 minute chart, see how the purple line resisted at first, right after FOMC? But then the volatility became too aggressive, so it broke through. And ...

EURUSD

So, FOMC drove the price above the purple line, which indicates a clear bullish breakout. Now let's see if the purple line works as a support area to drive further bullish action. But if not, then it's likely to drop all the way back down to today's ...

EURUSD

So, FOMC drove the price above the purple line, which indicates a clear bullish breakout. Now let's see if the purple line works as a support area to drive further bullish action. But if not, then it's likely to drop all the way back down to today's ...

Only EURUSD

There was a rate cut today, as expected.

EURUSD

See here how the purple line held the price down then red line held it up. I was sideways, not sure which way, but now I'm starting to lean bullish for FOMC and the rest of this week. But of course I could be wrong. I'm equally hedged though. Most ...

EURUSD

See here how the purple line held the price down then red line held it up. I was sideways, not sure which way, but now I'm starting to lean bullish for FOMC tomorrow and the rest of this week. But of course I could be wrong. I'm equally hedged ...

Only EURUSD

So, price dipped below the red line, but popped back above. However it stayed below the purple line. So, I guess it looks sideways for now until Wednesday. I'm currently hedged equally with 2 long and 2 short positions. Waiting for breakout. Don't ...

EURUSD

Red line resistance didn't hold, but price is still under the purple line, so sideways for now. I'm currently hedged equally with 2 long and 2 short positions. Waiting for breakout. Don't know which way. image image

Only EURUSD

On the 15 minute and hourly charts, it does look like a bearish break through the red line support, now turned resistance. image image

Only EURUSD

Not yet. 4 hour candle needs a clean break, close and hold below the red line at 1.1640 area to make it short term bearish. Another break, close and hold below the red line at 1.1585 area is medium term bearish. Finally, a break below the blue line ...

Only EURUSD

I added another red trend line for the 15 minute chart. And price has already broken above it. If it stays above, could this mean it's signaling a bullish Monday? image

EURUSD

Does this not look like the tide is turning bullish again? If price stays above the red line, it's bullish. image

Only EURUSD

So, last night, I added an additional bullish support trend line (purple) to see if price might react to that. And.... It did!!! So now let's see what happens, break down below until the red line at 1.1586 - 1.1600 area? Or support at the purple ...

EURUSD

And now we have a clean 4 hour candle close below the blue line. Next thing to watch is how price action reacts if it goes back up, does the blue line resist or not? If it resists successfully, then it's likely going down to the red line area. If it ...

EURUSD

So far, EUR/USD price has respected my blue bullish trend line. It is still acting like a barrier. But based on MACD, I'm expecting it to break down through it to anywhere from 1.1635 to 1.1600 area, close to the red line, then we'll see what ...

EURUSD