Forex FOREX PRO WEEKLY, August 26 - 30, 2019

[Robban68]

Nothing to do at this level, bearish into support. On Friday it is a double close. (Both week and Month). Last week closed at 1.1096, last month at 1.1129. Start closing above these levels coming days will be the first step If bulls lurking around. Tripple Swap today, it hurt to be long

 

[Lolly Tripathy]

Thank you so much dear Sive sir..

 

[Robban68]

Nothing to do at this level, bearish into support. On Friday it is a double close. (Both week and Month). Last week closed at 1.1096, last month at 1.1129. Start closing above these levels coming days will be the first step If bulls lurking around. Tripple Swap today, it hurt to be long

Wrong weekly # mentioned, last week was 1.1139, yesterdays close 1.1092. First one to overcome . So far bears have it, however risky to sell into support.

 

[minimax]

NOW I am 99,999% sure..

 

[minimax]

Loonie looks similar.. 50% on Euro & 50% on Loonie?

 

[Sive Morten]

Howdy friends,

Today I take broader view on EUR and DXY, trying to find out, what is really going on there and find some interesting things. Yes, we do not have immediate good trading setups by far, but overall situation looks thrilling.

I'm talked about it in video today. It is a bit too much to write down it here, but everything is about recent bottom. If EUR and DXY will take out this extreme point then large H&S pattern extention starts to work again and we're going to XOP target. Here is how it looks like on DXY. If market will take out recent top (lows - on EUR), it confirms that recent drop was just a retracement on OP target and major AB-CD is still in the game. Then, upside action to XOP should continue and take the shape of butterfly that finalize this motion. Thus, recent top here is a cornerstone of this setup.

But, as we've said yesterday, it is not the fact yet that this definitely will happen. EUR now shows deep retracements before reversal and despite solid drop, it keeps chances on reversal. Now price stands at our 78.6%, and could hit 88% as it coincides with the bottom of consolidation area. Also it is tricky moment here that EUR AB=CD target stands outside the JP candle, while DXY one - inside. Thus, although it is not too much to do right now here - let's keep watching, it seems fast action should return on market soon:

 

[Lolly Tripathy]

 

[Sive Morten]

View attachment 44107

Hi Lolly, nice to see you again here!
Could you explain your chart. What "VTL" stands for? It seems that they are "Trend Lines"?

 

[gwynfor]

Sorry if this is weak question but what is JP candle ?

 

[Sive Morten]

Sorry if this is weak question but what is JP candle ?

Jerome Powell