EUR/USD

Exit 2: near 1.2639 - mission accomplished

One rule in price-bar formation trading is:
Do not fight the trend when it is present.
Trading out of a trading range - as I have posted this afternoon - is very simple and has a 95% chance that it works when it is done right.
I have also explained how GAPs work and when the retracement in the direction of the GAP usually starts.
It always starts with a trading range consisting of 20 or more bars, as can be seen on the 1 hr chart today.
According to the rules, bar nr. 17 is the earliest one that should be traded. But it is safer to trade a bar past nr. 20.
The buy-signal I posted was on bar nr. 23 - a very safe bar to trade.

Learn the language of charts and take the guessing out of the game.
Trade without indicators, media manipulation or other people's opinions.
Trade what you see on the charts and not what you think (or others think) should or could happen.
The truth about direction can only be found in the charts.

Trade reference: EUR/USD buy @ 1.2569
Exit 3: near 1.2660 - mission accomplished

EURUSD broke higher during the course of yesterday session, testing the 1.2650 level and closing above the 10 day moving average. We could see sellers coming in between 1.2750 and the all-important 1.28 handle.

The high from yesterday is now a legitimate buy-stop entry on the 4.hr chart (1.2674)
Caution - it has to overcome 1.2681 first, which is a v-stop (low of a reverse-hook)

This trade could take you to:
Exit 1: near 1.2720
Exit 2: near 1.2745 v-stop (next reverse-hook's low)
Exit 3: near 1.2840 v-stop (next rev-hook's low)

According to the consolidation rules - this trade is only valid if prices break on the current bar or on the next bar (4 hr. chart).
The bar after the next one cannot be traded, as it will be bar nr. 6 in consolidation.

Some correction did begin for EUR/USD and it appears that the current target is 1.2710. There is a pretty strong resistance there, so once it reaches that level I will be on the lookout for any signals that it might start falling again.

I agree with you, the daily trend still look bearish, but 1.2710 will be the key level. And don't forget we have FOMC minutes tomorrow.

Looks like the price has been pushed to break the daily high for the last few hours just like yesterday.

waiting for tomorrow and keep an eye on it .

In mid-September, the Fed said it will soon start increasing interest rates short term. Does the time is coming?
Today the dollar started the day lower against almost all G10 peers. Only been stable against the EUR.

they have to. It's about time for the change and for them to pullback their currency

The EURUSD just stays consolidated, lets see how the rest of this week's fundamentals affect the pair.

We are seeing the largest bullish correction in EURUSD that we have seen in months. That alone would be enough to give us pause but the pair is now above its 10 day moving average in a highly oversold environment. While the daily trend still remains strongly bearish the short-term trend is in danger of becoming bullish with a break above 1.2700.

Trade reference EUR/USD buy-stop @ 1.2674
the current bar and the next 2 bars are now a legitimate bars on the 4-hr. chart to enter the trade.

as posted yesterday:

Exit 1: near 1.2720
Exit 2: near 1.2745 v-stop (next reverse-hook's low)
Exit 3: near 1.2840 v-stop (next rev-hook's low)

Nothing much has changed since from yesterday, ranging between 1.2620 to 1.2700. 1.27 level seems to be critical now.

EUR/USD is still climbing slowly but currently the market is not at all volatile, because everyone are waiting for USD Fed to release the Minutes from the FOMC meeting – they should do so later today and then it will probably become obvious whether EUR/USD will break above the resistance at 1.2700 or it will start falling again, heading for 1.2500 (or even lower) again.

Dollar has been lower this week with the market discounting what appears to be a weaker global growth.

Today we saw the 1.2710 as we expecting yesterday and even 1.2748 till now so i will wait till it reverse the trend and we will see.

let's see if there will be a reverse if price breaks 1.2726 and stabilize over with at least 1 candle on the 4 hour chart it can open a possibility to go for 1.2800