Why are we entering?
- Price is at channel support
- We have previous structure at the channel support area
- We are expecting EUR to strengthen for the short to medium term
What are we waiting for to happen?
- Waiting for one 4H candle to signal bullish pressure
- EUR index to reject structure level
What is our confirmation?
- 4H bullish candle
- lower...
EURGBP has been making a really long descending correction and it's time we breakout of this correction and move up! GBP is weak this week so this would push EURGBP higher.
Watch for the wedge to break and a bull flag to form.
Goodluck and trade safe!
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.0833).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCHF is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a...
Potential for a short on EURCHF
Technicals:
- Rejection at previous support and resistance of descending channel (both highlighted yellow)
-In line with the current down trend
- Bearish confluence among indacotrs
- Rejection at 0.5 fib level
Our last EURNZD analysis played out perfectly and we managed to bank over 400pips! We are now approaching another strong area where we can look for buys and look for another 400pips.
On the chart I have indicated the various impulse and corrections.
We appear to be in an ABC correction and we are approaching the major trendline and a previous structure where it...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.1824).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURUSD is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.5871).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURAUD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.5694).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURAUD is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which...
The pattern triangle was crossed to the bearish
direction, however there is no strong fundamental
support for strong dollar as FED's Jerome Powell's
speech was dovish last week. We need to wait
during Monday and figure out market sentiment,
this is now crucial to make weekly trading decisions.
Targets:
Resistance N2 - 1.1880 market open for this...
I will probably get a head kick off her for this title, hopefully it knocks some sense into me because it sure cant knock anymore out haha.
So lets look at the chart, we have 2 levels marked out 1.170 and 1.198, these are strong levels as they have historically been used as good support and resistance if you get the chart up and zoom out then you will see (if you...
The Godfather of Trading... EU.
Analysing across DXY and the USD in general, I can picture a bearish week for the Dollar ahead, given the last 2 weeks have been showing consistent bullish pressure, I think this week the bulls will run out of steam. DXY may be heading back to 92.000 or lower.
I think DXY crashing, will provide the bullish momentum that EU was...
New triangle pattern inside trend channel.
This pattern gives another opportunity
for trading, let's wait for point 5 touch.
Targets:
Resistance N2 - 1.1880 market open for this week
Resistance N1 - 1.1836 (Daily low for July 12)
Support N1 - 1.1770 weekly low price for this week
Support N2 - 1.1711 Monthly low
News US to follow:
12:30 Core Retail Sales...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.4817).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCAD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
