A business approach to the EURUSD pair. We discuss analysis methods for this currency pair, advisors, indicators (we correct errors and refine them) - page 8
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You can go here - https://forum.mql4.com/ru/15972/page193
If you want to improve the Expert Advisor here, you need to openly describe its work, post tests, screenshots.
And explain what exactly you don't like about it....
Gold price has stabilised as it is in a triangle, but may soon break out of it and pull movements in the currency pairs as well. We are waiting for a pullback.
On the EURUSD I am looking down. May not be wrong? Yesterday's 4 hour candlestick is not exactly to my liking.
On EURUSD I'm looking down. Maybe not wrong either? Yesterday's 4 hour candle doesn't exactly look good.
I am assuming an upwards move. VTB analysts' forecast for the Euro indicates a near-term target of 1.47.
And I intend to only buy on pullbacks in the near future.
I assume an upward move. The VTB analysts' forecast for the Euro indicates a near-term target of 1.47.
And I intend in the near future to buy only on the pullbacks.
After the release of the US jobless claims data I will make a decision. >> I will wait.
I'm not working.
Tired.
Totally fucked up.
VTB
The Eurodollar(EURUSD) climbed from 1.4100 to 1.4250, where it is now. The situation allows expecting a correction to 1.4150, which is likely to occur closer to the end of the trading day on 20.08. In the near future, the rate is expected to be in the narrow corridor 1.4200 - 1.4250, where the price is since yesterday at 19-00, and the borders are now acting as indicators of the possible direction.
Gold price has stabilised as it is in a triangle, but may soon break out of it and pull movements in the currency pairs as well. We are waiting for a pullback.
On the EURUSD I am looking down. May not be wrong? Yesterday's 4 hour candlestick is not quite to my liking.
You have the "wrong" candles, it's because of the "wrong" time of your DTs.
P.S. In my humble opinion, everything is beautiful there.
Comment from VTB
So, as we anticipated, the euro showed strong upward movement last night, with a local high so far marked at 1.4269. The Dow Jones index closed yesterday with an increase of 0.66%, at 9279, although most of the day the markets were in the red zone. Stock indices are also rising today. However, oil prices showed a particularly strong upward rally, with the price of a barrel of WTI going up to 72.74 versus yesterday's low of 68.23. The general optimism in the markets is explained by the rising oil prices, the latest phenomenon being the publication of the oil inventories yesterday at 18.30 MSK, which showed a very strong decline.
However, it is easy to see that most of the rally in the Euro-dollar, for instance, took place before the publication of the oil reserves data. Technically the Euro pulled up sharply without volumes is understandable. After collecting the stops below 1.41, it made sense to quickly move the price higher in order to prevent the speculators from buying the Euro at the lows. In the current technical picture, it simply couldn't be hoped that the market would struggle and sell the euro on the rise from 1.41 to 1.42, rather the opposite. The short-term technical picture doesn't imply any strong upside resistance at all, so we believe that the Euro could make a couple more of these upside impulses with almost no volume. The technical picture is getting more and more bullish and the Euro has bounced from the support of the short term rising wedge and it should now go to the resistance, which is now at 1.4480. And here, at the highs of the year and also slightly higher, at 1.45-1.47, there might be a serious struggle and delay, as the Euro will be approaching the high shown on December 18 last year. We believe that this is where the big players will pick up the Euro liquidity, after which buying will lead to a further upward exit of the Euro.
Events happening in the world, which fall into the field of fundamental analysis, confirm the above conclusions. We have already written about the US Treasury reducing its borrowing appetite for Q3 in its quarterly announcement. And today, the US administration announced that it is reducing the US deficit forecast for fiscal year 2009 from $1.84 trillion to $1.58 trillion, by approximately $262 billion. The reduction is due to lower spending on aid to the financial sector, which has started to feel better than anticipated. As we have written, a reduction in the need to raise funds always means a green light for the dollar to fall and vice versa.
Here it is worth remembering not only last year's events but also the aftermath of Hurricane Katrina in 2005 (the city of New Orleans was practically wiped out then), which led not to the dollar falling but to its rising, as the US needed to raise funds for disaster relief (after which the dollar continued to fall in 2006 and beyond).
The green light for a falling dollar also shows an improvement in the US economy, as it is always advantageous to have a period of economic growth in a weak dollar, it helps US manufacturers. But back to the deficit problem. According to the forecast, federal budget revenues in the 2009 fiscal year will be 2.074 trillion dollars, 18% less than a year ago, while expenditure will be 3.653 trillion dollars, 23% more than a year ago. The new figure will be only 11.2% of GDP.
So far, it seems to be no big deal for the US economy. The problem, however, is that there is no prospect of changing the current trend in the future. Even after drastically reducing consumption, the USA is running a monthly trade deficit of $30 billion. Federal budget revenues continue to decline month after month, capital outflows from the US continue month after month. By pumping money into the economy, the US has finally had a positive effect, which we believe is temporary. Warren Buffett's article on the effects of monetarist stimulus was published yesterday in the New York Times. In it, the billionaire wrote that "inflation will impoverish US citizens and the dollar will continue to lose purchasing power".
You have the 'wrong' candles, it's because of the 'wrong' time of your DC.
P.S. In my humble opinion, everything is beautiful there.
It's true that the timing is wrong. But you have to boil it down to what it is.