Don’t panic, jawboning was more Hawkish for USD ! Let’s see how price reacts next week.

4 HR

Look for support to be broken and price to decline into the 38.2 fib ext and the 233 MA in blue. The trend line still shows lower highs as stoch's want to fall now.

1 HR

Look for price to live above the 233 MA in blue. New pivots next week will come out and give some further clues. With the wide stops planned out of 50 + pips the volatility should not have knocked out any trades.

5 thoughts on “E/U & U/J Update Post Yellen”

  1. Miles says:

    Thank you for the nice post James. EURUSD fell according to you plan and ended the week sitting on the 233MA and MM3. USDJPY didn’t retrace at all and just skyrocketed. Let’s see what next weeks pivots will bring to us!

    1. James Mauro says:

      Thanks for the feedback Miles. The move in U/J was volatile Friday in crossing the hourly 233 (weekly 5) but it still has a chance to retrace. I’d watch for a shallow one tho if this is the beginning of a weekly trend and look to reload (ie.. add a 3rd trade ;-). E/U also fell below the hourly 233 so this could be the continuation of a “Friendly Trend” especially if price falls below the 4 hr 233 and holds, so if you’re in from the recent top (ie.. if 3 trades are on now 😉 don’t get out yet with FOMC in Sept and try to reload more in the coming weeks!! Good luck and its nice to know there’s life here & someone is actually reading plans.

      1. Miles says:

        I don’t have any trade in place yet but starting to feel the market so that I could jump in when ready.
        Keep up with the great job you’re doing James, I clicked on “follow” to your profile so I hope to see more of your ideas!
        By the way, never heard of 233 SMA, why you like it better than the Wayne’s 200 EMA?

        1. James Mauro says:

          The 233 EMA is simply another fib number so it correlates thru time frames a little better for me since the other moving avg’s are fibs as well. For ex.. the 1 HR 233 is = the Weekly 5 EMA as mentioned above in the plan so it can be used to see into the future in essence to catch an early ride onto a weekly 5 ema. This would be longer term trades that can last up to a few months !

          1. Miles says:

            Great to know James, it’s true 21 55 are Fibs so it makes sense 233. Now I’d have to ask Wayne why he chose 200 since it’s the only non-fib number in his strategy 🙂 Thanks for sharing!

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