Good morning traders and a happy Monday.
Were starting the week off with some major data events coming out of both the US and Europe.
Firstly we have the German Ifo Business climate (EUR) coming out at 09:00 GMT (my local time).
This has the power to move the market a substantial amount therefore i will not be entering a trade until we see...
My overall bias on EU today would be long.
Trend line is holding nicely.
There has just been a cross over on the Stoch and RSI is looking very bullish.
MACD also bullish.
Not the best time to buy now but after a reversal (off or close to the trend line) would be a good time to get in.
On a fundamental front this week Monday was a read day for the USD and for the...
USDCAD could be a possible set up for a short.
DXY Head and shoulders looking very likely so on the back of this we are going to be looking t get in on the action.
USDCAD looks the best set up t take advantage of this as we can see EMA cross a key area of S/R.
We are just going to be patent with this one and wait for the cross to be confirmed and a nice bearish...
Classic, simple trendline break trade.
It is good to wait for a lower low to be made for the trend reversal to be confirmed. Then I like to enter on the next lower high for a better R:R entry.
Use the 1hr 50ema and daily pivot as dynamic resistance once both are broken and the retested from below.
Potential short opportunity here. The candles have broken through the rising wedge pattern, waiting for price to cross below the major resistance (dotted line) and the 13 EMA (purple line). If price breaks these two lines then would expect price to retrace around the 200 EMA (red line).
Potential Inverse Head And Shoulder on the 1D and 4H timeframe, waiting for more of a confirmation of the H&S to continue playing out before taking a position to attack previous high of 0.77245, BANK HOLIDAY Monday so no positions will be taken.
Will resistance be respected or ?
- Major bullish engulfing candles in the mix.
- EMA's look like they may cross soon indicating a change of trend.
The next candle close could tell us what we need to know.
The EUR/USD seems to be in a bit of a pickle, there was a false breakout represented by the ABCD shape, but there seems to be a reason behind that as the Coppock curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA,...