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Forex Forum Archive for 06/06/2020

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Mtl JP 21:30 GMT June 6, 2020
comedy time

The protestors , for some reason, remind me of Darwin and his theory
-
(WSJ) Experts Sound Alarm Over Coronavirus Spread as U.S. Ramps Up Reopening, Prepares for More Protests

CDC chief encouraged demonstrators to get tested to help mitigate potential rise in Covid-19 cases

Mtl JP 21:22 GMT June 6, 2020
Monday Amazing Trader 8 June 2020

(WSJ) OPEC and its allies finalized on Saturday an extension of their record oil-production curbs through July, delegates said, after Iraq and Nigeria agreed to slightly deeper cuts to compensate for their failure to adhere to recent agreements.

OPEC, Allies Finalize Deal to Extend Oil-Output Cuts

AT Trader john 20:42 GMT June 6, 2020
Monday Amazing Trader 8 June 2020

LATE Friday
DJ: 27,111 +829
SP: 3,193.3 +81.6

2-yr 0.222% +1.2 bps
Spread 10s-2s +70.0 bps (+64.98bps)

10-yr
US: 0.922% +10.2
UK: 0.361% +0.6
DE: -0.279% -0.1

EURUSD MACRO TREND: HIGHER
Spots (Pivot Point prev day)
EURUSD 1.1291 (1.1318)
GBPUSD 1.2671 (1.2662)
EURGBP 0.8909 (0.8934)
USDJPY 109.61 (109.51)

Past Week 1.1384-1.1101 (283 pips)
fri: 1.1384-1.1279 (105)
thu: 1.1362-1.1195 (167)
wed: 1.1250-1.1167 (88)
tue: 1.1250-1.1115 (81)
mon: 1.1153-1.1101 (52)


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20-day avg: 1.0985
50-day avg: 1.0920
100-day avg: 1.0958
200-day avg: 1.1012

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Israel MacroMicro 17:02 GMT June 6, 2020
EUR/USD

TAI

you probably win JP contest for words saving, but your post without levels and/or dates is the sort that never can go wrong and ultimately not tradeable at all.

dc CB 16:22 GMT June 6, 2020
comedy time

On the advice of state police, retail outlets along I-95 (a critical vehicular artery connecting Westchester and southern Connecticut and the city) are closing and boarding up their stores on Saturday

In response to Facebook threats of looting and rioting, Clinton Crossing Premium Outlets will be closed Saturday and Sunday, according to an official of the retail outlet center.

Entrances and exits at Clinton Crossing, a member of the Simon Property Group, will be blocked with Jersey barriers. Some stores, including Polo Ralph Lauren and Finish Line, were boarded up starting Friday morning.

"Based on the credibility of threats and law enforcement recommendations, the decision has been made to temporarily close," Nathan Ramos, area general manager, wrote in a letter to mall businesses."...Our goal is to provide a safe environment for tenants, customers and employees."

Clinton Crossing, off Exit 63, is home to about 70 outlet stores, including the upscale Coach, Dooney & Bourke, Kate Spade New York and Michael Kors, as well as Sunglass Hut and Yankee Candle.

The following message was posted to premiumoutlets.com.

"We are deeply saddened and troubled by the murder of Mr. Floyd and mourn his senseless loss," it reads. "We stand united for racial equality and pray for the healing of our communities."

____________________________________________
Meanwhile, a candidate for Baltimore City Council told looters and rioters to "take that mess to Towson" (a suburban area) urging them to light fires and loot stores in the suburbs because Baltimore is still "traumatized" from the Freddie Grey riots.
____________________________________________
Washington DC
According to the Washington Post, police expect between 100k and 200k protesters on Saturday, far short of the million people organizers had brought together.

Lagos Brokers 16:03 GMT June 6, 2020
Top 10 forex brokers list - 9 best forex brokers 2020
Reply   
Best Forex brokers. 9 best forex brokers for 2020, we recently updated our forex brokers list Compare brokers with minimum deposit, commissions , spreads, trading platforms & execution.

Anike

AT Trader john 12:35 GMT June 6, 2020
Monday Amazing Trader 8 June 2020
Reply   

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 8 June 2020
No Major Data
Tue 9 June 2020
AA 9:005 EZ- EZ GDP
B 14:00 US- JOLTS
AA 09:30 UK- Trade
AA 09:30 UK- Visible Trade
Wed 10 June 2020
AA 12:30 US- CPI
A 14:30 US- EIA Crude
Thu 11 June 2020
A 12:30 US- Weekly Jobless
A 13:30 US- PPI
Fri 12 June 2020
A 08:30 GB- Output, Trade, GDP
C 12:30 US- Import Prices
AA 14:00 US- Prelim Univ of Michigan


Minneapolis DRS2 12:24 GMT June 6, 2020
EUR/USD

Many years ago, a EUR/USD trader could depend on momentum to carry a trend. Every day would be another 150, 200, 250 pips. Traders could get home runs every day as the stops were hit.

Those days are gone for the time being. Markets are perceptively thinner, and volatility has increased. Instead of "buy, buy, buy, buy" followed by "sell, sell, sell, sell", present-day market action is more like "buy, buy, stop buying, sell, sell, stop selling". Automated algos can start and stop trading instantaneously, leaving the human traders to ask themselves "what the f*** am I doing buying/selling way out here?"

In such an environment, it is probably not reasonable to expect a continuing trend, unless you are an expert in monetary analysis and can read the tea leaves. Most of us retail traders are not, even if we like to think we are. It is easier to think about continuing trends if one is a long-term position trader with several hundred pips profit in the bag already, but how many here are position traders?

Let your winners run and cut your losses fast. Preserve your capital so that you can survive sudden changes in direction.

Andorra la Vella TAI 10:02 GMT June 6, 2020
EUR/USD

Don't trust this rally. It won't last.

Israel MacroMicro 09:25 GMT June 6, 2020
EURUSD 11270-11215 -11145

reasonable correction targets
10913 for the bigger picture (very marginal)
I think 1.1522 is the bullish target for this month
imo

Amman wfakhoury 07:34 GMT June 6, 2020
EURUSD 11270-11215 -11145
Reply   
Unless it closed above 11350 the price will return to 11270 -11215-11145 as I said in my previous signals.


The only one in the world who confirms the next level and every hour movement

Israel MacroMicro 07:11 GMT June 6, 2020
EUR/USD

the monthly chart is very clear. MAY candle didn't retrace at all during JUNE (yet?), momentum is higher, March high taken and this one can rise to 1.18 and 123 areas. close above March high makes LT trend officially changed

imo

Minneapolis DRS2 04:41 GMT June 6, 2020
EUR/USD

From a trading perspective, the validity of your thesis is really dependent on your timeframe. Although it is tempting to say that 1.08 is in the rear window, there are two things to keep in mind. One thing is that price was at 1.0636 just three months ago, and almost hit 1.14 this week. Sounds really good, right? Price gone POOF! and all that?

A look at the higher timeframe charts (daily, weekly, monthly) may convince you otherwise. Yeah, EUR/USD price has been going up recently, but the charts going back several years show a history of squeezes....up, down, up, down, up, down...over and over again. After 750+ pips of upward movement in EUR/USD, how much farther do you think it's going to go? Why not just do a crazy Ivan, screw all the longs and drag price down to 1.05? That would certainly be consistent with recent history.

Fortunately, chart analysis is not the same as live trading, and thank God for that. If you really think that the USD is now f***ed thanks to the Fed, then buy some EUR/USD or some other pair of your choice, and let your winners run as the profits come in. With all the games the Fed has been playing recently, you might just make a killing if a long-term breakout is in progress. On the other hand, make sure to cut your losers fast. Three months ago traders were selling 1.0650...

 




Actionable trading levels delivered LIVE to YOUR charts

GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium

Mon 27 May 2019
AAGB/US- Holiday
Tue 28 May 2019
A 14:00 US- Consumer Confidence
C 13:00 US- Case-Shiller
Wed 29 May 2019
A 08:55 DE- Employment
AA 18:00 US- BOC Decision
A 18:30 US- EIA Crude
Thu 30 Mar 2019
AAEZ/CH- Holiday
A 12:30 US- Weekly Jobless
Fri 31 Mar 2019
AA 10:00 EZ- Flash HICP
A 12:30 US- Personal Income, Spending, Deflator
AA 14:00 US- Final Univ of Michigan


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