Sept 2, EURUSD spot vs. binary

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Sept 2, EUR/USD spot vs. binary

The yellow line is an incentive move from the Kumo – location is good, Momentum Band twisted, ADX turned trend & chikou is clear. The close of the blue Hammer is a good spot entry. A little consolidation into the Momentum Band is fairly likely though so it’s not a good binary bet.

Oval 1 is a possible level for a binary trade. It’s a rejection of the significant red candle at the spot entry & it’s a fake break of the tracks to it’s left. Oval 2 confirms the level nicely. The third candle in oval 2 and the three candles in the rectangle to it’s right are great binary spots. Price is very unlikely to move through that level without first testing the low or at least consolidating.

EUR/USD Forecast

The EUR/USD pair is highly recommended for traders who are only beginning to trade Forex. It trades easily by retail traders as well as by Central banks and financial institutions around the world. The most active trading sessions takes place in London and New York and the most commonly used EUR/USD Forex charts are the Daily, 4 Hour and 1 Hour charts. The traders at Daily Forex will post the latest Euro to US dollar forecasts and will keep you totally updated regarding EUR/USD trading.

EUR/USD receives additional interest from volume generated by the Euro-crosses (e.g. euro/British pound (EUR/GBP), EUR/CHF and EUR/JPY. This interest tends to be contrary to the underlying U.S. dollar direction, making it an attractive market for short-term traders.

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EUR/USD Forecast

Consolidating Above 1.0832

The Euro has gone back and forth during the trading session on Monday to kick off the week.

The Euro bounced a bit from a major support level just below the 1.08 handle, an area that I had been calling for a couple of the past videos now.

Over the past two weeks, the US saw initial jobless claims surge by roughly ten million due to the global Covid-19 pandemic.

The Euro broke down rather significantly during the trading session on Thursday, reaching towards the 1.08 level, an area that I had suggested that could be targeted.

The Euro continues to go back and forth, and I simply think there’s no real directionality to this pair right now.

The Euro initially fell during trading on Tuesday but then turned around to show signs of support.

The Euro initially tried to rally during the trading session on Monday but has seen a lot of resistance at the 1.1150 level.

The Euro has initially pulled back during the trading session on Friday and looked quite soft until the Europeans and the British went home.

The Euro has been all over the place during the month of March, as markets are trying to figure out what to do with themselves.

The Euro has rallied a bit during the trading session on Thursday, breaking above the 1.10 level.

The Euro has been very difficult to trade over the last couple of days because although it has been bullish during most of the time, it keeps pulling back rather rapidly.

The Euro rallied a bit during the trading session on Tuesday but gave back a significant amount of the gains in order to form a bit of an inverted hammer.

The Euro has been all over the place during the Monday session, as the Federal Reserve has suggested that it was going to expand quantitative easing yet again.

The Euro initially tried to rally during the trading session on Friday, reaching as high as 1.08 and above.

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Euro FX Jun ’20 (E6M20)

Euro FX Futures Market News and Commentary

The dollar index (DXY00) on Wednesday rose +0.197 (+0.20%). Jun euro-fx futures (E6M0) closed down -0.0044 (-0.41%), and EUR/USD (^EURUSD) fell -0.0029 (-0.27%). Jun yen futures (J6M0) closed up +0.02 (+0.02%), and USD/JPY (^USDJPY) rose +0.07 (+0.06%).

The dollar index on Wednesday posted moderate gains after EUR/USD weakened when EU officials Tuesday night failed to agree on a pandemic rescue package. Higher T-note yields on Wednesday were also supportive for the dollar. The dollar was undercut by dovish Fed comments and the minutes of the Mar 15 FOMC meeting.

U.S. stock indexes rallied sharply Wednesday on hopes the U.S. economy can reopen sooner than earlier thought. President Trump said late Tuesday that his administration is developing plans to reopen parts of the country that haven’t been hit by the coronavirus, while keeping “hot spots’ such as New York and New Orleans shuttered for longer. Confirmed cases of the coronavirus have risen above 1.49 million global. Read more

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The AUDUSD edged higher yesterday but appears to be on the verge of stalling in the rebound off its March low. Significantly, the AUDUSD is nearing the.

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AUDJPY shows incomplete sequence from April 2 low, favoring more upside. This article and video looks at the Elliott Wave path.

Rosenthal Collins Group – RCG Direct Wed Apr 8, 9:06AM CDT

Bulls still have overall technical advantage but are fading this week and price uptrend now in jeopardy.

Alan Bush – ADM Investor Services Wed Apr 8, 8:55AM CDT

The Treasury will auction 30-year bonds.

Anton Kolhanov – Kolhanov.com Wed Apr 8, 8:06AM CDT

An uptrend will start as soon, as the pair rises above resistance level 1.0900, which will be followed by moving up to resistance level 1.0957

Phillip Streible – Blue Line Futures Wed Apr 8, 6:52AM CDT

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