Eur/usd

[gka]

The EURUSD has spent the last 8 hours trying to break through the highest VRM weekly sentiment level at 1.1455. So far failed to break through this level.

For an explanation of the significance of this level see

https://www.complexhamiltoniansystems.com/practice.html#3rd_PointHeader

The next weekly level of resistance from the VRM is 1.1474 which is the middle of the long term trend channel.

I have 1.1473 as today's EURUSD high so far. Just 1 basis point away from the middle of the long term trend channel I quoted yesterday. The sellers in the market were waiting there and it fell rapidly from there.

 

[Poppyseed]

Eur/Usd is consolidating after the pair failed to continue to the upside and slipe below 1.138 level, consolidation continues if the pair stays above the immediate support at 1.1360 level.

 

[Wilson80]

I have 1.1473 as today's EURUSD high so far. Just 1 basis point away from the middle of the long term trend channel I quoted yesterday. The sellers in the market were waiting there and it fell rapidly from there.

Good call and interesting system the VRM. I will definitely look into it. Thanks for sharing.

 

[gka]

Good call and interesting system the VRM. I will definitely look into it. Thanks for sharing.

Thanks. You can find the eur/usd hourly charts with the VRM levels on the last post of the thread

"Predicting future FX support and resistance levels using mathematics"

 

[hatemypips]

Any live testing made with this system? Looks like it's only theoretical reasoning on good trades, what about practice?

 

[Josh7]

The Euro seems to have found some solid ground. I think consolidation will lead to continuation of the move North.

 

[Tempted]

We continue to see sell off of eurusd. What will be the effect FOMC chair speech on eurusd?

 

[fxstrategist]

The EURUSD rallies again to the 55 day EMA, just above the 1.1400 level, which is acting as a resistance. In case of a bullish breakout, its next resistance could be the 1.1500 level. Above the 1.1500 level, its next resistance could be the 200 day EMA around the 1.1601 level. To the downside, the 1.1300 level could act as support.

 

[Wilson80]

Today we might see a break of the symmetrical triangle boosted by the ECB interest rate decision or even by the following Mario Draghi press conference.

 

[fxstrategist]

No real surprise on the EURUSD after the ECB comments. Lots of intraday volatility, but no clear direction. The EURUSD is trapped between the 1.1300 level and the 1.1400 level where we can also find the 55 day EMA.

 

[Wilson80]

Seems like EUR/USD broke 1.1300 level and is now running for the year-to-date low at 1.1214.

 

[fxstrategist]

The EURUSD tries to break below the 1.1300 level, but leaves behind a false breakdown. The pair may continue consolidated between the 1.1300 level and the 1.1400 level with the 55 day EMA also acting as resistance.

 

[Wilson80]

Now is testing the 1.1400 level and looks like is getting ready to pop to the upside toward 1.1500. Let's see what the Fed will bring to the table later today.

 

[Wilson80]

The currency pair is approaching the 1.1500 I'm getting ready to short.

 

[hatemypips]

There will be reversal in new year I expect major sell-off in Dollar

 

[Wilson80]

There will be reversal in new year I expect major sell-off in Dollar

Got in short today at 1.1460. Why will it be major sell-off in Dollar?

 

[fxstrategist]

The EURUSD is very undecided around the 1.1465 level with low volatilty, its most relevant resistance is still its 200 day EMA around the 1.1546 level and its support is at the 1.1400 level. From the current position, the pair may head in any direction.

 

[fxstrategist]

The EURUSD completes four sessions in a row stuck around the 1.1363 level without a clear direction. The 1.1400 level along with the 55 day EMA could act as resistance and the 1.1300 level could act as support.

 

[fxstrategist]

The EURUSD rallies to the 1.1500 level which acts as resistance, but it could try to continue higher. The 200 day EMA at the 1.1527 level could act as resistance.

 

[forex66]

The EURUSD has been in a 200 pip or so range for the past 14 weeks.
If it closes above 1.1500 on the weekly then will look to go long.
If it closes below the Weekly 200 (1.1320) then will look to go short.