Forex FOREX PRO WEEKLY, November 14 - 18, 2022

Andreas.
Where do you find that Dollar Index chart? Cannot find it in my MT4 list
Hi Freddy, usually it depends on quote list of particular FX Broker. Mine FX Choice also doesn't have it now, but previous it was in the list. Probably the yours one also doesn't have it...
 
Morning guys,

Market still stands quiet, coiling around the top, what I think stands more in the bulls' favor. I suspect that this silence comes from undercover political games that are spinning up now. Speaking about Andreas scenarios above, I'm more gravitating with action to 1.0535 first rather than H&S downside action that we still have on intraday charts:
eur_d_18_11_22.png


Because, first is - 4H chart now has the evident triangle shape, which is not bearish and also is accompanied with strong bullish dynamic pressure, as MACD is going down, while price action is not.
eur_4h_18_11_22.png


Second - because on 1H chart price action is not bearish. It has to be different on the right arm of H&S pattern. But here we do not see bearish control, despite that yesterday EUR still was able almost touch the neckline. So, as we've said, if you have bearish positions with b/e stop - you could try to hold them. If not - we suggest it would be better to not take the new ones. Bulls could consider upside butterfly scenario here. As usual invalidation point of the pattern is its lows - 1.0275

eur_1h_18_11_22.png
 
How do they switch money so fast?
One moment down, then in the blink of an eye it goes the opposite way.
 
Morning guys,

EUR has hit daily XOP and now the major question is whether we get reverse H&S and correspondingly deep right arm pullback. For bulls it is indifferent situation as anyway we wait for the pullback for entry, while bears here do not have the context to sell. Bears could consider setups only on intraday charts:

View attachment 80949

On 4H chart we can't consider recent performance as DRPO because of too big difference between the tops. But we have here divergence and K-support area around 1.0140-1.0190:
View attachment 80950

On 1H chart we have a kind of H&S pattern and price already stands at 5/8 right arm resistance. It means that short-term bearish background is ready. But we still have one tricky moment - bullish divergence. So, if you consider short entry here with 1.02 target - think about this "additional" moment. Still, stop could be placed very close and potential loss will be small anyway.
View attachment 80951
Hi Sive, On Wednesday 4Hr chart you provide exactly what is SO helpful: "But we have here divergence and K-support area around 1.0140-1.0190:" by specifying the area, so there is no uncertainty as to where the "K area" lies on this chart. GREAT, thank you.
 
How do they switch money so fast?
One moment down, then in the blink of an eye it goes the opposite way.
WHO has ALL this money to move the price of the EURUSD that much in just a few minutes???
UP & DOWN in just minutes !!!
Freddy there are a lot of automatic robot trading algorithms, millions transactions per second. The "real" market is not changing so fast, when you trade 1 Mln and above lot. If you take a look at the quote board in big banks, say, UBS, the quotes are changing relatively slow. Once, when I've traded through SaxoBank, they said that for lost above 1Mln they have manual quotation. So you have to request the quote. It was few years ago but this example just explains the difference between big guys and us.

I even do not exclude some randomizing quote algorithms by retail brokers. For instance, real big bank quote holds and gives a spread of 10 pips for example, while Retail broker shows you chaotic price fluctuations in this spread and shows you that quote is changing.

Other words, if we trade 1000$ and see the fluctuations as you've described - it doesn't necessary mean that they are really happen. ;)

Hi Sive, On Wednesday 4Hr chart you provide exactly what is SO helpful: "But we have here divergence and K-support area around 1.0140-1.0190:" by specifying the area, so there is no uncertainty as to where the "K area" lies on this chart. GREAT, thank you.
I've got the hint. ;)
 
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