Sive Morten
Special Consultant to the FPA
- Messages
- 18,648
EUR/USD Update, Thu, 27 May
Gud'day Forumers,
First of all, there are a couple of moments that make me expect a bullish bias for today, may be for tomorrow also. First one is a behavior of market yesterday around previous low. Market has taken only one low and left untouched the other, that is more important. So, the conclusion is that this down move was just a wash & rinse of this low and not a breakout attempt. It means, that we can expect up move today. The daily chart also has some signs for that and I think that the possible target of that move is 1.24-1.2467 range - range between previous high and weekly pivot.
But, The fact that market has not reached lows at 1.2130 for a few pips makes me worry about it. Usually BIG GUYs do not release such a possibility to grab sweety stops.
So, what is in result? First, there are signs for upside move, but one trick is still possible - we can see something like solid up move, then, when there are a lot of people will be on Buy side, market will make a strong reverse move and go to the lows. I will not be very surprised if I'll see it. I do not know exactly, possibly it will happen, possibly not, but This kind of trick is a main risk for couple of days. MArket is near to low, it can be choppy. Be carefull.
As for me, I probably take a risk of a short-term Buy with target around 1.24-1.2467.
Good luck.
Gud'day Forumers,
First of all, there are a couple of moments that make me expect a bullish bias for today, may be for tomorrow also. First one is a behavior of market yesterday around previous low. Market has taken only one low and left untouched the other, that is more important. So, the conclusion is that this down move was just a wash & rinse of this low and not a breakout attempt. It means, that we can expect up move today. The daily chart also has some signs for that and I think that the possible target of that move is 1.24-1.2467 range - range between previous high and weekly pivot.
But, The fact that market has not reached lows at 1.2130 for a few pips makes me worry about it. Usually BIG GUYs do not release such a possibility to grab sweety stops.
So, what is in result? First, there are signs for upside move, but one trick is still possible - we can see something like solid up move, then, when there are a lot of people will be on Buy side, market will make a strong reverse move and go to the lows. I will not be very surprised if I'll see it. I do not know exactly, possibly it will happen, possibly not, but This kind of trick is a main risk for couple of days. MArket is near to low, it can be choppy. Be carefull.
As for me, I probably take a risk of a short-term Buy with target around 1.24-1.2467.
Good luck.
Sometimes, i just place orders for a day, make update for you and that's all. If I have a time during the day, I can make some changes.
