The name euro was officially adopted in December of 1995 and replaced the former European Currency Unit (ECU) as the official accounting currency on January 1, 1999. It is the official currency of the euro zone, which consists of 19 of the 28 member states of the European Union. It is the second most traded currency in the world after the United States Dollar and the second largest reserve currency.
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.1300 would begin in Midterm.
Trade Setup:
We opened 8 BUY trade(s) @ 1.1677 (day close price) based on 'Vale & Two-day reversal candle' at 2018.08.27 signaled by DTO.
Total Profit: 40 pip
Closed trade(s): 0 pip Profit
Open trade(s): 40 pip ...
Midterm forecast:
While the price is below the resistance 0.9305, beginning of downtrend is expected.
We make sure when the support at 0.8965 breaks.
If the resistance at 0.9305 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Trading suggestion:
There is a possibility of temporary retracement to suggested resistance zone (0.9045 to ...
The pair is approaching a major resistance level off 1.18387, this has caused a lot of volatility in this pair previously and I am personally thinking that there will be at least a 50 pip drop when it hits this level.
This analysis was made yesterday, 20/09/18, but I'm just posting now.
This sell idea was check on 1D, 4H and 2H time frame.
If you have a look now, it is starting the down trend and both my res and sup line are the same as the fib lines.
As every other idea I post this one was based exactly in the same principals:
will be looking for a rejection off the daily resistance, and from my analysis I predict that the price will fall towards the 1 hour support line followed by a few hours of consolidation, good luck traders!
- Pauric Finnegan
Head and shoulders pattern formed.
Potentially will fill the right shoulder and carry on long
First target - 1.14
Second target - 1.138
Third target - 1.15
Head and shoulders pattern formed.
Potentially will fill the right shoulder and carry on long
First target - 1.14
Second target - 1.138
Third target - 1.15
Midterm forecast:
While the price is below the resistance 1.6190, resumption of downtrend is expected.
We make sure when the support at 1.5275 breaks.
If the resistance at 1.6190 is broken, the short-term forecast -resumption of downtrend- will be invalid.
Trading suggestion:
There is a possibility of temporary retracement to suggested resistance zone (1.5825 to ...
EU Broke the support yesterday and went further down.
However its now starting to bounce off the trendline in the 4H time frame. If this bounces it will be significant so keep an eye on the chart.
TP1 - 1.147
If it breaks through the top then I will update with another TP
See comment for closer time frame.
