As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=124.1.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=125.
TP4: R2=125.25.
Set the stoploss of these orders at breakout of S2=123.9.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
Is EU telling us where it is going to be heading in the year coming? Looking at an On-Trend Continuation in the current area. 61 & 38 Confluence on the 1.15 Mantle, wicks out to the top, Previous Price Reversal Area, 3-4th Loose
hit on the Downtrend line, 100EMA floating across the top. Very nice set-up, possibly for the first half of the year.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1485.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.156.
TP4: R2=1.159.
Set the stoploss of these orders at breakout of S2=1.147.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of ...
Looking to Buy EURGBP as its in a uptrend. We have seen price break previous resistance and now testing the new support. We can see price bounce up from Buy range or the 200MA. Target is 0.90500 (60-70pips).
With a breakout on a previous uptrend and an upcoming resistance from a previous head and shoulder this is called the neck line which i have labelled on the chart. The breakout has retested the only support line and i will personally be taking a short on this pair.
AS we can see there is a good 2:1 long setting up on the EURUSD.
Price has pushed down to the untouched zone and we are seeing more buying pressure froths level.
The 2 hour chart shows a strong moved down with that engulfing candle which will offer little resistance to the upside at around the 1.15200 level
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.1375.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=1.1305.
TP4: S2=1.127.
Set the stoploss of these orders at breakout of R2=1.139.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of ...
plenty of reasons why this trade should be taken as shown in the chat and with no news reports due to be released to Wednesday this should be a good trade to take place.
Price found the 1.14500 level this week as a hard area to push past, overtime price got to the level it found strong selling pressure.
For the most part price has been ranging between 1.1§300 and 1.14500
Two areas that I have got my eye on are firstly the lower Demand zone at 1.12200 when price found this area last, there was strong buying pressure and shows ...
My views on EURUSD:
After breaking a major downtrend with strong bullish momentum and one my resistances, now the pair is looking to test this area as a support to possible bounce and shoot up again.
Either it hits the line and drops. if so then we drop to 4hr and look for entry e.g first engulfing candle.
Or it goes beyond our line and we leave the trade.
With news allowing the break of resistance we are waiting for the retest to show the old resistance becoming new support for a long position. This allowing us to set up a nice trade.
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.
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