Expecting price to bounce off of this long time tough support area. Though it may be pushing downwards for a while that was also the case in the past and it still bounced. Lets see if it holds true in the present.
we have multiple resistance's, one even dating back from August 3rd 2016. On the daily price is being squeezed. Price has failed at this resistance trend line multiple times and doesn't look like it has the strength to break it now, however if price breaks above the trade will be invalid.
I have been waiting for this to get down to resistance and reverse. Waiting for it to break the middle resistance 1.42522 before I go long. RSI MACD both signaling upwards. A few leading indicators for EUR economy is coming out today, might be worth waiting for those before going in. The only thing I don't like is going long on a trend that is generally short...
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Euraud Change its trend on daily chart down to up and weekly pivot point around 1.4250. if hold above 1.4250 we can see price toward 1.45-1.46 Advice to buy in range of 1.4335-1.4250 SL below 1.42 TP 1.45
after testing the support on 1.4582 twice the price pull back and we are looking now to see the price on 1.48202 resistance area and looking for a caution there then for the next resistance after the break up
We might break the trendline from the looks of it. IF we do, wait for a minor pullback and the buy.
if we see this candle close above the previous lowest close I feel we could see a move upwards If we get an impulse leg and structure broken we could see a potential 2618 set up