Forex EUR/USD Daily Video, July 24, 2023

[Sive Morten]

Good morning,

Market is finishing our downside trading plan and coming to 1.1050-1.1060 area that we consider as very attractive for long entry:

 

[davedubai]

Hi Sive,
EURUSD's straight drop to 1.1065 from 1.1145 and i am witnessing its struggle to climb above 1.1100 is indicative of bearish pressure on pair yet not over. Any further insight after recent news ?
I am tightly holding solo long in the pair and will add more near 1.1030/35.

 

[Sive Morten]

Hi Sive,
EURUSD's straight drop to 1.1065 from 1.1145 and i am witnessing its struggle to climb above 1.1100 is indicative of bearish pressure on pair yet not over. Any further insight after recent news ?
I am tightly holding solo long in the pair and will add more near 1.1030/35.

Hi Dave, we do not consider yet the long entry. According to our plan we wait 1.1060 target and appearing of bullish patterns then. Once they will be formed, we consider long entry.

But, if you're already in, just keep stops below daily K-support area and oversold for awhile.

 

[davedubai]

Dear Sive ,
Yes kept SL below K support. Yes short trade is still open with ++ pips in it.
Really happy to have education and informative analysis of economical changes and data reviews from you.

 

[soul rebel]

...I am looking at the 15m chart... there is a 1.27 butterfly extension developing that meets the 50% DRPO target for take profit on short and at the same time taking a long with stops below K-support as defined above

 

[davedubai]

...I am looking at the 15m chart... there is a 1.27 butterfly extension developing that meets the 50% DRPO target for take profit on short and at the same time taking a long with stops below K-support as defined above

Welcome aboard.. Can you post chart ?

 

[Sive Morten]

Welcome aboard.. Can you post chart ?

...I am looking at the 15m chart... there is a 1.27 butterfly extension developing that meets the 50% DRPO target for take profit on short and at the same time taking a long with stops below K-support as defined above

I suppose Viresh is talking about this one: