US10Y : It is better we keep this in focus
Soon it would be FOMC and a new set of dot plot.
Till then, everyone is nervous. FX would likely be trading sideways. While all eyes are looking at the various FX pairs, it is this chart that can provide some clue as to what the MARKET is actually thinking.
See that is found a footing first at the 100MA. For the last 3 days, it seems to move UP and found a footing at the 200MA.
This week would be decisive. For further signs of what the MARKET is thinking, we look further to the COTR due this FRIDAY. And also what happens to OIL.
For EURUSD, if you have a keen eye, you would have noticed why previously I mentioned 1.0655 was the LOW. Of course, it went slightly below that. The point was, it did NOT go to the POC just slightly below @ 1.0612 or 1.0525. Understanding this is crucial for what can HAPPEN next and how to trade this.
Good luck.
P/S : As always, do not just believe what I say. Use your common sense.
Till then, everyone is nervous. FX would likely be trading sideways. While all eyes are looking at the various FX pairs, it is this chart that can provide some clue as to what the MARKET is actually thinking.
See that is found a footing first at the 100MA. For the last 3 days, it seems to move UP and found a footing at the 200MA.
This week would be decisive. For further signs of what the MARKET is thinking, we look further to the COTR due this FRIDAY. And also what happens to OIL.
For EURUSD, if you have a keen eye, you would have noticed why previously I mentioned 1.0655 was the LOW. Of course, it went slightly below that. The point was, it did NOT go to the POC just slightly below @ 1.0612 or 1.0525. Understanding this is crucial for what can HAPPEN next and how to trade this.
Good luck.
P/S : As always, do not just believe what I say. Use your common sense.
Comment:
When trading Dollar FX pairs, this is the most important chart to look at. But surprisingly, few pay attention. What a shame.