Fair enough, 1.20 and 1.19500 not this week but...
There are 8 ECB speakers today, a few already spoke and overall the governing council mood is:
"Yes we monitor the EUR but don't want to start a currency war with Trump"
The message is clear enough, as long as EURUSD doesn't extend too much above 1.20 the ECB is "cool" about it. With this said the previously noted targets for this week are at the moment not realistic but very realistic over the medium short term, on the chart above you can see our "cheap" buying zone where we will look to enter long, yesterday after the ECB we sent a plan to the Private Network members to buy the pullback at 1.18300 (range mean) but we didn't execute it today since we have already some USD short exposure in another pair.
Anyway in the chart above you can see part of our plan, full thought process, and exact entries and exits will be sent to the Private Network as always
There are 8 ECB speakers today, a few already spoke and overall the governing council mood is:
"Yes we monitor the EUR but don't want to start a currency war with Trump"
The message is clear enough, as long as EURUSD doesn't extend too much above 1.20 the ECB is "cool" about it. With this said the previously noted targets for this week are at the moment not realistic but very realistic over the medium short term, on the chart above you can see our "cheap" buying zone where we will look to enter long, yesterday after the ECB we sent a plan to the Private Network members to buy the pullback at 1.18300 (range mean) but we didn't execute it today since we have already some USD short exposure in another pair.
Anyway in the chart above you can see part of our plan, full thought process, and exact entries and exits will be sent to the Private Network as always
Oh and by the way, if you have been waiting for a spot in the Private Network we have just opened 2 extra seats (we are working on something BIG for the Network members so these will likely be the last seats at the current price), text "I WANT TO JOIN" @JayRally
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https://besomebodyfx.com/quiz3/
Not valid for the current members, this quiz is way too easy for you guys 😉
Not valid for the current members, this quiz is way too easy for you guys 😉
BeSomebodyFX
Quiz | BeSomebodyFX
Giveaway quiz on trading fundamentals, the first scoring 100 wins a free month in the Private Network, this one is probably the easiest we have prepared so far...
BeSomebodyFX
https://besomebodyfx.com/quiz3/ Not valid for the current members, this quiz is way too easy for you guys 😉
Definitely way too easy, we have a winner, but feel free to do the quiz anyway if you haven't yet, we are going to give detailed explanations of the correct answers tomorrow so that will be educational
AUDUSD to catch up with CHNUSD...
Expecting AUDUSD to expand further to the upside as Victoria is easing lockdown measures and data is pointing out to positive developments on the COVID front, China during the night announced that they may have a vaccine ready for the Chinese by November, and Chinese retail sales showed growth for the first time since the lockdown.
But why does this matter with the AUD?
China and Australia are trade partners, what's good for one is good for the other, indeed you can see the correlation between AUD and CNH in the chart above, and the AUD is slightly lagging the CNH so there is further upside potential up to 0.74000
We are comfortably sitting long from 0.72500 with stop loss at brakeven in the Private Network, oh and the cherry on the cake is that retails are heavily selling today as you can see from the bubble chart.
To put it simple, expect further upside on AUDUSD but keep in mind that we will de risk before tomorrows FOMC meeting
Expecting AUDUSD to expand further to the upside as Victoria is easing lockdown measures and data is pointing out to positive developments on the COVID front, China during the night announced that they may have a vaccine ready for the Chinese by November, and Chinese retail sales showed growth for the first time since the lockdown.
But why does this matter with the AUD?
China and Australia are trade partners, what's good for one is good for the other, indeed you can see the correlation between AUD and CNH in the chart above, and the AUD is slightly lagging the CNH so there is further upside potential up to 0.74000
We are comfortably sitting long from 0.72500 with stop loss at brakeven in the Private Network, oh and the cherry on the cake is that retails are heavily selling today as you can see from the bubble chart.
To put it simple, expect further upside on AUDUSD but keep in mind that we will de risk before tomorrows FOMC meeting
BeSomebodyFX
AUDUSD to catch up with CHNUSD... Expecting AUDUSD to expand further to the upside as Victoria is easing lockdown measures and data is pointing out to positive developments on the COVID front, China during the night announced that they may have a vaccine…
Same story, different day...
AUDUSD jumped 40 pips from yesterday's analysis but it's back to 0.7310, same story here, still expecting upside here, it's just choppier than expected but understandably so since we have the FOMC meeting today.
As noted yesterday we are comfortably long from 0.7350 in the Private Network with stop loss at breakeven and we will de risk heading into today's FOMC meeting.
Like yesterday there is some upside to catch here, the intraday traders can target 0.7350 which is where sellers liquidity is resting, swing traders like us will have to deal with the choppiness and patiently hold
AUDUSD jumped 40 pips from yesterday's analysis but it's back to 0.7310, same story here, still expecting upside here, it's just choppier than expected but understandably so since we have the FOMC meeting today.
As noted yesterday we are comfortably long from 0.7350 in the Private Network with stop loss at breakeven and we will de risk heading into today's FOMC meeting.
Like yesterday there is some upside to catch here, the intraday traders can target 0.7350 which is where sellers liquidity is resting, swing traders like us will have to deal with the choppiness and patiently hold
BeSomebodyFX
Same story, different day... AUDUSD jumped 40 pips from yesterday's analysis but it's back to 0.7310, same story here, still expecting upside here, it's just choppier than expected but understandably so since we have the FOMC meeting today. As noted yesterday…
Another day another push but the FOMC in a few minutes will likely be a two side business so expect some heavy chop, looking at CNH strength i would expect AUDUSD to reach 0.74000 next but we have de risked ahead of Powell and not looking to do anything before he speaks
AUDUSD possibly aiming again for that 0.73500
Sellers stop losses are resting there so i wouldn't be surprised to see that being hit and the squeeze lower again, we could remain in these choppy conditions until the elections so make sure you know how to adapt.
This is where short term traders benefit the most if they know what to do
Sellers stop losses are resting there so i wouldn't be surprised to see that being hit and the squeeze lower again, we could remain in these choppy conditions until the elections so make sure you know how to adapt.
This is where short term traders benefit the most if they know what to do
What do you think comes first for the Dollar (DXY)?
Anonymous Poll
45%
Above 95.50
28%
Below 90.00
27%
Just taking a sneak peak at the results...
BeSomebodyFX
Fair enough, 1.20 and 1.19500 not this week but... There are 8 ECB speakers today, a few already spoke and overall the governing council mood is: "Yes we monitor the EUR but don't want to start a currency war with Trump" The message is clear enough, as…
EURUSD locked in profit, entered right below Q3 open level at 1.17500 on that liquidity hunt, now well in profit.
EURUSD range is well in play here, make sure you make good use of it because we are, exact trade details and confirmations are being sent to the Private Network members as usual.
You can check the original plan on the attached message, the "cheap" and "premium" zones are still valid, now that price is back to the range mean it could pullback to the "cheap" buying zone again so keep an eye open
EURUSD range is well in play here, make sure you make good use of it because we are, exact trade details and confirmations are being sent to the Private Network members as usual.
You can check the original plan on the attached message, the "cheap" and "premium" zones are still valid, now that price is back to the range mean it could pullback to the "cheap" buying zone again so keep an eye open
BeSomebodyFX
https://besomebodyfx.com/building-the-case-for-some-temporary-dollar-strength/
The Dollar didn't waste time, EURUSD it's now below Q3 open price, a daily close below here and we open a move towards 1.15
Don't forget that the impatient get squeezed out, don't sell low, sell high.
Don't forget that the impatient get squeezed out, don't sell low, sell high.
BeSomebodyFX
https://besomebodyfx.com/building-the-case-for-some-temporary-dollar-strength/
EURUSD we got the daily close below Q3 open price, 1.15500 is our target.
Don't forget, sell high and not low
Don't forget, sell high and not low
As always many miss the bigger picture distracted by the short term noise...
Both GOLD & SILVER are begin dragged down by a stronger Dollar and lower stocks, but these are only factors that reinforce the longer term bullish view, the FED will need to step in if the Dollar keeps gaining and stocks keep falling, and more stimulus or even the possibility of negative rates in the US will further support precious metails.
So while the short term view is still bearish as we see more strength for the Dollar on a short term basis (as outlined in the research published on Monday), the current environment of "Interest rates will remain ultra low for the foreseeable future" will keep GOLD and SILVER well supported over a 12 month horizon
The 20 handle in SILVER and the 1750 zone in GOLD is a gift for the smart traders
Both GOLD & SILVER are begin dragged down by a stronger Dollar and lower stocks, but these are only factors that reinforce the longer term bullish view, the FED will need to step in if the Dollar keeps gaining and stocks keep falling, and more stimulus or even the possibility of negative rates in the US will further support precious metails.
So while the short term view is still bearish as we see more strength for the Dollar on a short term basis (as outlined in the research published on Monday), the current environment of "Interest rates will remain ultra low for the foreseeable future" will keep GOLD and SILVER well supported over a 12 month horizon
The 20 handle in SILVER and the 1750 zone in GOLD is a gift for the smart traders
EURUSD to 1.15500 before the Elections...
Going to make it quick, we expect a pop higher in EURUSD to 1.18 to then sell off back to 1.15 before the Elections and then and only then (after the elections) resume the bullish trend towards 1.25 when the reflationary theme picks up steam, but that's another story, what interests us right now is the potential sell opportunity around 1.18
Going to make it quick, we expect a pop higher in EURUSD to 1.18 to then sell off back to 1.15 before the Elections and then and only then (after the elections) resume the bullish trend towards 1.25 when the reflationary theme picks up steam, but that's another story, what interests us right now is the potential sell opportunity around 1.18
BeSomebodyFX
EURUSD to 1.15500 before the Elections... Going to make it quick, we expect a pop higher in EURUSD to 1.18 to then sell off back to 1.15 before the Elections and then and only then (after the elections) resume the bullish trend towards 1.25 when the reflationary…
Keep in mind this can push higher than you think before the real next leg lower