I posted 2 signals with exact entry prices last week, based on a formation on the 4 hr chart. These 2 signals are backed by the 12 hour and 8 hour charts with similar formations. The early entry price I provided is currently 40 pips plus, the second one is currently break even. Target for both signals can be the second reverse-hook on the 12 hour chart, which is near 1.3160
For a major buy-formation on the daily chart, the violation of the low of yesterday's daily price-bar is required, without violating the low of Sep. 9th. If the low of yesterday is violated today, then the high of yesterday is a legitimate buy-entry (daily chart)
The USD has been trading mixed. Higher against CHF and SEK and lower against GBP and CAD and unchanged versus the JPY, NZD, EUR, AUD and NOK. The GBP depreciated even after the minutes of the last policy meeting of the Bank of England have revealed that the same two members voted for a 25 basis points interest rate, despite the referendum in Scotland. The CAD has soared after the Governor of the Bank of Canada, have said, he was cautiously optimistic about the future of exports to economic recovery. Stated that the Central Bank does not attempt to manipulate the value of the Canadian currency.
takechance posted: Today I took a short entry at 1.2920. My target is 1.2775. Maybe in a week or so.
My short trade from the 1.2920 level will most probably see the target of 1.2775 very soon. Next immediate low levels I am forecasting are 1.2832 and then 1.2775.
Cheers and happy trading.
Nice prediction. You simply went back as far as you could with the h4 chart and looked for the last time eu accumulated near its current price and that is how you got 1.2832... Under that we have 1.2807 1.27655 and 1.27549
You must admire how EU was able to stay sideways for the time it did Showing higher highs and higher lows and then all of a sudden have the rug pulled out from under her. I would take a stab in the dark and say that if eu doesnt go back to 1.2920 before 1.28078 then EU will for sure have a big time correction in the making. Right now on all smaller tf eu is clearly showing accumulation, I would say one more long red candle down before any reversal back to 1.2950 If it makes a clean bounce from here I would be shocked.
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