Forex EUR/USD Daily Video, 23 August, 2019

Sive Morten

Special Consultant to the FPA
Messages
12,633
Good morning,

EUR stands in tight consolidation waiting for JP speech, but we treat as technical as fundamental background more bearish rather than bullish:


The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.
 

luckyanand12

Corporal
Messages
107
My thought about today's rally of EUR/USD caused by tweet of Trump. The president has been trying to push Fed for rate cut for a long time but has not succeeded in a long time, which is why I believe that he is either bluffing to weaken $ or cannot really do anything about Fed because it's independent . As well, upcoming election in USA is very near, so trump will not take hard decision like removal of Federal reserve chairperson for a cause that never happened in the history.
Therefore, I am gonna sell EUR/USD against this rally and target (COP) 1.1010-1.1015.
Please add your views to make trading better.
It seems like closure of EUR/USD on Daily time-frame is gonna form a stop grabber. The price penetrated MACD predictor but has not closed above it and looks like it is gonna close below MACD predictor line.
 

Sive Morten

Special Consultant to the FPA
Messages
12,633
My thought about today's rally of EUR/USD caused by tweet of Trump. The president has been trying to push Fed for rate cut for a long time but has not succeeded in a long time, which is why I believe that he is either bluffing to weaken $ or cannot really do anything about Fed because it's independent . As well, upcoming election in USA is very near, so trump will not take hard decision like removal of Federal reserve chairperson for a cause that never happened in the history.
Therefore, I am gonna sell EUR/USD against this rally and target (COP) 1.1010-1.1015.
Please add your views to make trading better.
It seems like closure of EUR/USD on Daily time-frame is gonna form a stop grabber. The price penetrated MACD predictor but has not closed above it and looks like it is gonna close below MACD predictor line.
Indeed, mate. Situation is confusing a bit. We need to see how stable upward action will be, whether it will turn down again relatively soon or not.
Concerning grabber - FX Pro charts shows that we do not have it for few pippets. On Dollar index we do not have grabber as well. To say it definitely we need to check EUR futures chart.
 

luckyanand12

Corporal
Messages
107
Indeed, mate. Situation is confusing a bit. We need to see how stable upward action will be, whether it will turn down again relatively soon or not.
Concerning grabber - FX Pro charts shows that we do not have it for few pippets. On Dollar index we do not have grabber as well. To say it definitely we need to check EUR futures chart.
Yes no grabber, it closed above MACD predictor. So it is a change in trend to upside, right?
 
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