I closed shorts actually, but I have longs now, so that's good at least.

Jimmy wrote: Thu Oct 10, 2019 1:40 pm

Were you in any longs? Hope you made a bit of profit bro

I closed shorts but I have longs now. I think we will see a rally to 1.1100 next week.

Huh, I could swear my initial response disappeared for some reason, go figure. Sorry about the double post.

mlawson71 wrote: Sun Oct 13, 2019 1:55 am Huh, I could swear my initial response disappeared for some reason, go figure. Sorry about the double post.

Haha it's all good Mr. Lawson. Maybe you've had a long week :P

EUR/USD Technical Analysis: The upside met strong resistance in the 1.1060 region

• The rally in EUR/USD briefly surpassed the key 55-day SMA in the mid-1.10s last Friday and recorded monthly tops in the 1.1060/65 band, although it did not close above it.
• If the pair manages to gather extra traction and clear the 55-day SMA, the next stop could be September’s peak at 1.1109.
• Above this area emerges the 100-day SMA at 1.1139.

Source: https://www.fxstreet.com/news/eur-usd-t ... 1910140940

It looks like EUR/USD may pull back from 1.1060 and depreciate back to 1.1000 before it begins rallying again.

EUR/USD is still developing around 1.1030, but the move north will likely continue. Let's see whether it will rally above 1.1100.

mlawson71 wrote: Wed Oct 16, 2019 3:10 am EUR/USD is still developing around 1.1030, but the move north will likely continue. Let's see whether it will rally above 1.1100.

Yes I think we might see a small move to the upside but overall the trend is still heavily bearish!

EUR/USD buoyed by German stimulus hopes but upside break still found wanting

EUR/USD holds higher after talk of potential German stimulus earlier


On the one hand, talk of fiscal stimulus is a good thing - especially from Germany - however, it will only come if there is further significant deterioration in economic conditions. So, is that really a good thing? Will it be too late to act if that is the case?

That is the question that traders will have to gauge over the next few quarters when looking at the euro. In the mean time, I would dismiss such hopes as being fluff as it still falls under the category of "all talk but no action".

But what is the price action saying in EUR/USD?

As it stands, price is trying to combat near-term resistance around 1.1055 with the swing region around 1.1070-75 the next level to eye for buyers. There are also large options sitting at 1.1075 so that may yet play a part in limiting gains on the day.

As for any downside move, sellers will have to break through the key hourly moving averages in order to establish some form of near-term control in search of a break below 1.1000.

Yesterday, the lows failed to breach the 200-hour MA (blue line) near the 1.1000 handle and that remains the key line in the sand for any move lower from hereon.

Source: https://www.forexlive.com/technical-ana ... n-20191016

EUR/USD is still testing 1.1060 but has not broken out above that level yet. It may still do so before the end of the week.

EUR/USD finally broke out above 1.1100! The last high is at 1.1165, so I think that's the next target.