As long as there is a negative outlook, markets go down, there is no fixed price level for that. Markets will stop going down once the outlook changes. Currently the political uncertainty, trade tensions and a strong USD are keeping the EURO down, its as easy as that. Once it looks like the outlook for the EU starts to change from negative to positive the direction will start to change, not a day sooner.
So can negative outlook determine what price level? If say current negative outlook decide euro should be at 1.1, then euro should go down to 1.1 on the first day and never move after that, unless there are some outlook change. If current negative outlook can't decide what price level euro should be valued , then you have admitted negative outlook doesn't decide market price.
Markets don't work that way dude ... The fundamentals dictate that price should go lower, how low? Who the hell knows that, that all depends on the future outlook that no one knows yet.
they did make the floor @24.00 so AH looks like might be a different story now or will it be. But holding no Biases unless price breaks upwards of 30.00 or candle closes convincingly below 24.00.
"how low? Who the hell knows that" So you have admitted by fundamentals you still don't know how low it should go? In another word, fundamentals can't decide what price level, but by fundamentals people could know euro should not go below 0.9 and not go above 1.5.Fundamentals can only decide a wide range. Within this range, market movement is decided by psychology.
Lol dude, really? Nobody knows how low the market can go since no one knows the future economic outlook, most certainly TA can't predict that. Certain TA levels will be respected as long as the outlooks are within the expected range, once there is a unexpected news event/release/... all other shit goes out the window. Once it looks like the economic/political/... outlook is going to change, people anticipate on that by starting to buy and so start to change the direction of the market. There are thousands of examples from the past in which people thought it can never go lower than X, well, often it did ... (Lehman as the most well known example). Not because someone was drawing funny lines on a chart but because fundamental outlook dictated so. Tell me this, why did the ES start to drop from July 31th?
Score reflects avoidance of negative trade conditions. +100=Great trading, -100=Lousy trading. Anything positive is good.
There's been plenty of negative news in the last 10 years that the markets have shrugged of like it's nothing.