A-B-C-D Trade - page 218

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Both pairs are tentative in thoughts of taking things lower. Sure to be bets on Euro gains with 08:30 GBP and 09:00 EU data.

For intra-day trades, any shorts should be quick, ahead of data.

When assessment unclear, pass on it.

For AUD/USD, there hasn't been a significant pullback yet.

Earlier at 05:30 EUR/USD did bounce up about 40 pips from the-session low support area of 1.36075, which is also near round number. 1st approach is always safest.

 

GBP/USD broke support

 

Let's call this one Moonflower, in honor of Santana's song.

Pair broke below Mars 270 (red horizontal), and approaching Moon 0-degree, which is also the 100% fib channel expansion.

FC plot Moon 180 to Moon 90.

Horizontal fib plot: High = 1.58005 Low = 1.57396

138.2 = 1.57163 (now)

161.8 = 1.57020

 

Split-screen. Left = 15-min with fib extension High = 1.58005 Low = 1.57403

Lower Right = 30-min PSQ9 as price hit 100% fib channel expansion.

Upper right = EUR/GBP gaining of course as it trades opposite direction.

Exit ahead of data as precaution, makes this a shave trade. Price is now experiencing a small bounce , but might explore lower depending on time left..

Files:
GBP-USD_PSQ9_FC_9-14.jpg  158 kb
 

Experienced traders taking bounce opportunity EUR/USD as revisit of high now ahead of 08:30 data.

 

Make it quick, per attached.

Files:
EUR-GBP_9-14.jpg  109 kb
 

Both the GBP and Euro data missed projections, which is further confirmation not to count on them.

We thought fundamental traders had longs on EUR/USD early in session. Some reacting to EU formally floating idea of Euro Bonds.

 

AUD/USD testing day's low of 1.01788

 

EUR/USD approaching day's High of 1.37049, with round number 1.37000 always bounce area.

And as always, our thanks to fxstreet for providing prompt fx news.

 

EUR/USD has retraced to 1.36833 ahead of 12:30 U.S. data, which is mostly projected as negative USD.

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