Forex FOREX PRO WEEKLY, November 14 - 18, 2022

[Andreas72s]

Sive.... top analysis as always!!!

...this is my view about daily chart US Government Bonds 10Y Yield

View attachment 80849

Hi everyone!
my main target (127.2) has been hit, I don't rule out consolidation at 161.8, but now it's important to look for potential reversal patterns, we'll see...
Andreas

 

[Andreas72s]

Hi guys, if the channel keeps Price Action inside, that means bearish leg in play...

 

[FreddyFX]

On another thought............it gives the feeling that a HUGE effort has been in place to destroy the US$ and notice every day that even it it corrects again, these forces do their very best to make price go up again.
While I notice the exchange rate between the US$ and the MXN stay untouched.
Am I correct in seeing this more as political than economical influences?

 

[Andreas72s]

 

[Sive Morten]

Thanks Sive for your support, ALL very true, in my case I scalp on the M1, so a complete different style of trading than yours. Indeed a bit overleveraged, but was focusing too much on continuation to the 0.900 level. Now just a matter of staying alive and getting out of the DD, lol.

OR
taking some losses and reassess everything.

I see, Freddy you always could send me the private message if you have some special questions or concern on trading process and I could help. Don't hesitate to do it. If you're scalping on 1-min chart then your "direction" time frame should be 5-min probably, or 1h chart at least. Higher time frames you have to use only to foresee big support/resistance area and be sure that your targets do not contradict them. All other things hardly will be useful, including trend direction OB/OS etc.

P.S. DiNapoli opinion that as lower time frame is as more difficult to trade it. So you have chosen the top difficulty level, which is 1-min chart

 

[Sive Morten]

On another thought............it gives the feeling that a HUGE effort has been in place to destroy the US$ and notice every day that even it it corrects again, these forces do their very best to make price go up again.
While I notice the exchange rate between the US$ and the MXN stay untouched.
Am I correct in seeing this more as political than economical influences?

Well, I can't say about some intentional hidden pressure by some "powerful authorities", but if we take a look at public information that we have, I suppose that this is crisis mechanism that is pressing on the dollar. Everything that we discuss in weekly reports - Fed policy, inability to control inflation, deterioration of US economy, liquidity problems etc. First technical effect for the USD demand is coming to an end, re-distribution of necessary liquidity is over. Now everybody starts watching the movie - what will happen with the #1 economy.

 

[Sive Morten]

Morning everybody,

So, today is not too many things to comment. On daily chart EUR has formed inside session and price is still coiling around the top. But on intraday chart we have something to discuss:

Recall "tricky" moment that we've warned about yesterday. On 4H chart now we have obvious divergence with MACD, suggesting bullish dynamic pressure and possible upside continuation in some way. Hardly it will be constant, but EUR still could wash out the previous top:

On 1H chart EUR keeps H&S shape and even has started minor downside action from the "C" point, but take a look at price behavior. It is not bearish and it should be different. This is bad sign for the pattern, that also suggests possible upside action. Thus, those who have positions from "C" top could just move stops to breakeven and see. While we suggest no new shorts by far, until situation around H&S becomes clear.

 

[Andreas72s]

View attachment 80980

INTRADAY UPDATES :

If we look at this bearish swing, Price Action should reach at least 127.2% (according to cluster zone on 4H by Sive). If you took a short position at 161.8% (1.045/1.048) or this morning, it might be correct to move stop loss in breakeven for save your money...
Andreas

 

[Andreas72s]

DOLLAR INDEX :
On the daily chart, trend holds a bullish context above 104.70 area (key level) with potential consolidation, such as a triangle or wedge, before the last bullish leg. If this pattern fails, I expect approach around 102 area.

If we look at short-term analysis (1h), here trend is bearish, but it could be still considered as trend correction, at least as long as price action stays above 104.70 area.

I hope I have been helpful.....
Andreas

 

[FreddyFX]

Andreas.
Where do you find that Dollar Index chart? Cannot find it in my MT4 list