EURUSD
EURUSD
EURUSD
DISCLAIMER: Do not consider this analysis as an Investment or Financial advise.This analysis is made for educational purpose.
I have marked all the important levels that we can expect this week in the chart along with the description.
Levels With no marking are intermediate minor levels that can be Considered as Target / Profit booking area for scalping , But sometimes it Might make major reversal.
Club these levels with you existing trading strategy / skill / experience to have an edge.
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A probable current scenario
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It took lot of efforts to make this kind of analysis so if you find it useful the do give it a boost it keeps me motivated.
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1.08718 is the current support level successful breaking below it might give bearish momentum.
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any short movement might not give a chance for retest trade in upper levels.
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its a probability that we can consider these selling be the last exhaustion selling for the week.
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Always be cautious
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I don't even know why people dislike the post even market haven't moved against it. Anyways this week idea might be the last one for EURUSD because i was not expecting this response for the analysis as it take lot of effort to do it and i dont want it waste it. Since i had to keep this idea uptodate thats why i am posting its update.
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Find a setup for short near the levels marked in red lines with proper stoploss, because its a last value area for the shorts to sell on high.There might be no retest if it goes down, and if somehow it breaches both the level then planning short might not be the best idea.
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let it reach the levels to get best deal with minimum stoploss
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lets hope it does not move beyond blue highlighted area
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Start planning your trades with stoploss and if it continues to be bullish then dont try to fight with it.
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we do not want it to cross last level
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Stop entry levels 1.09107
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limit entry point 1.09288 and 1.09244
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Always have stops to protect the position.
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Guys the blue highlighted area that is marked is the last area for shorts, crossing it will not be good for shorts, long positions will be initiated from there , therefore have your stoploss ready and try not fight with the market.
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1.09210 stop entry point
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It looks like Longs are not backing of so stay alert with the stoploss
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pretty much the last reaction point
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but my bias for short was over after it breached blue highlighted area.
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it can be a sharp fall, if it fall from here.
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does anyone is in the trade?
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It has breached the important level, it might have converted it to bullish cycle, but still it needs some bearish movements to collect stoploss at various levels for easy movements on the upside, Its was bullish in the weekly level but now it had breached the monthly resistance that means buyers do have some potential here. Momentum moves requires a lots of stoploss in spreaded areas, so in order to be bullish next month or week it will need sellers stoploss at various levels. So even if you see some selling its just making way for the next big move.
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Hope these levels were useful for some people, This will probably be the last weekly analysis for EURUSD because i was hoping for a better response for it, but i guess it wasn't that much of useful for many of them. Since its still alive of the week so here are the few important points.
1.Most probably it has change from bearish cycle to bullish cycle as it breached the important resistance area.
2. we are seeing some selling because if trend want to shift it is going to need some stoploss from the shorts.
3.Until it Breaks below the Breakout Area marked with yellow trend line Bullish sentiments will be vaild from lower levels.
4.Try to Club your strategy with these levels specially if you are planning long ,look for confluence area which is justified with you long or short setups.
Hope you all have a wonderful trading week.
1.Most probably it has change from bearish cycle to bullish cycle as it breached the important resistance area.
2. we are seeing some selling because if trend want to shift it is going to need some stoploss from the shorts.
3.Until it Breaks below the Breakout Area marked with yellow trend line Bullish sentiments will be vaild from lower levels.
4.Try to Club your strategy with these levels specially if you are planning long ,look for confluence area which is justified with you long or short setups.
Hope you all have a wonderful trading week.