Technical Analysis and Outlook:
The Eurodollar has obsoleted two resistance targets: Mean Res 1.095 and Key Res 1.099, respectively, in the latter part of the trading session this week, aiming for a further upside move to Outer Currency Rally 1.110 and Major Key Res 1.116 for the present is deferred. The current downside target is Mean Sup 1.097 and 1.084.
Technical Analysis and Outlook:
The Eurodollar has obsoleted completed Intermediate Inner Currency Rally of 1.092 target and created a new Mean Res 1.095 to restart pivotal pullback to newly created Mean Sup 1.084 and expand the movement to Mean Sup 1.074 at a later development - Big picture downtrend to Mean Sup 1.050 and Inner Currency Dip of 1.046 is in the process.
EURUSD rebounded on Support (1) as suggested on our previous analysis (see bottom for chart) and hit the 1.06650 Target.
The rejection took place both on the Falling Resistance and Resistance (1).
Pullback expected and the first Support level is the 0.236 Fibonacci.
Trading Plan:
1. Buy on Fibonacci 0.236.
2. Buy on Support (1).
Targets:
1. 1.06500 (Falling...
Hi Purposeful traders! This week on GBPJPY I'm looking for continued buys. She has a great opportunity we may need to set our eyes on. I look forward to knowing what you think about the analysis. Let's chat in the comment section below.
So i read Andy Constan tweeted his short position on euro yesterday. Before i go in with my money should do my own analysis. Dude is a legend of course but i will have to stick to my rules and do the due diligence.
On weekly chart here. Clearly see the downtrend is broken. Currently back testing the upper line of channel. If we make a new local high i will be...
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EURAUD is bullish right now
And I think that the market conditions are right
For the pair to move up
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- Has retraced over 50% of its downswing.
- Momentum needs to be resolved here - currently we in a volatility contraction which needs to play out. Up and Down targets have been set.
Here we have a long opportunity on 4HR time frame. The market has seemed to come to an end of downwards momentium. If you switch on to the daily time frame you will also see Spinning Tops starting to form.
