Bear snare below 1.4758?
Time will tell...
For Friday's Session Watch 1.4814 and 1.4837 as support.
1.4899 the developing POC and 1.4939 Weekly LVA as target.
To the disadvantage 1.4792 Monthly HVA and 1.4719 previous monthly swing high.
Do not overlook yesterday's signs.
A bullish engulfing pattern change is not something to take lightly.
Last thing I'd be today and next days is to be short EURUSD.
Two key aims for me today:
1.4899 The monthly growing POC
1.4939 The weekly LVA
1.5031/1.5033 Weekly POC and VPOC is likely too far to be reach today, but weekly? ...
Price back below 1.4792 would invalidate the bullish tone.
USDX looking weak (yeah, I'm a genius I know ), using a possible good brief signal for next week.
Notice how each time USDX is forming weekly market construction lows (3 candles MSL), the next week market interrupts the MSL and crater through the MSL to make a new low.
Let us see whether this happens next week too
3 candles breakout to the upside would invalidate the pattern, and signal a possible major movement, but we're at this point, yet
PS: FOMC meeting on 3-4 November.
Very nice daily EURUSD chart with monthly fibs on it.
Notice how we bounced in the 38.2% -61.8% zone.
We've got easy parameters there for November trading.
Have a look at how nicely on the hourly chart, the fibs functioned equally as support and resistance.Originally Posted by ;
New actual new information on the market, still no new high.
Will let the market take daily low and 3 days low as support, before looking for reversal.
We are still above the 50% retracement of Monday's move at 1.4936.
If we go lower will watch 1.4918 (last week high) as potential assistance.
Take note that Latest high low swing 1.5063 - 1.4627 is 1.4845...
Could we close the week above 1.4844 former monthly ?
Market gapped above the breakout point at 1.4901.
Seeing the weekly HVA above 1.5017.