If support holds we may see bullish price action towards upside target 1- then then target 2
However if we get a break of the ascending trendline we could see bearish price action towards downside target one
EURUSD shows a hanging man on weekly, this in itself is not a sign that Euro will fall, but it is a sign that bulls have definitively lost control, I will be looking for confirmation early this week.
I am short Euro from 1.1420 with stops at 1.450
just wanted to let you know what i'm looking at this morning, a bat pattern completing right a daily structure zone on the hourly chart. Stops above X, targets as usual for harmonic patterns.
If you want to share your idea or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
EUR/USD long - Expecting reversal back to 1.1403 which also coincides with our Lower Higher where many unfilled orders are potentially still awaiting to be triggered & then expecting price to 84 pips while risking 10 pips.
on EURNZD we're testing a key daily structure area (yellow box-black line) that also coincides with a psychological number (1,54). This is important for me because it tells me we could see a reversal down on a lower timeframe such as the 4H (the chart that you see): in this case, if you zoom in you can see why am i interested in this. There's a long pin...
we were looking at this pair few days ago searching for a short setup. Now the background is changed and we see this chart as a trend continuation chance. As you can see price has shown some selling pressure around 1,5050 but not enough pressure to stop the trend from continuing up. The break and close above that level signifies a clear willingess to...
here you can see the 4hr chart on EURNZD, i'm about to short this market and i'll briefly explain you why: firstly, the black line stands for a daily & weekly level of structure, that acted as support in the past, secondly, the RSI is overbought in this timeframe and it's showing some divergence on the daily chart. In addition to that, there's an AB=CD...
EURUSD bounced off 38.2 fib @ 1.0845, confluence with Horizontal support and 200 day moving average. Went Long at 1.0870 adding on pullback to 1.0890 area. Initial resistant at 1.0952 which is 6.8 fib of 1.0255/1.0840 or at 1.0980 (78.6 fib).
EURUSD bounced off 38.2 fib @ 1.0845, confluence with Horizontal support. Went Long at 1.0870 adding on pullback to 1.0890 area. Initial resistant at 1.0952 which is 6.8 fib of 1.0255/1.0840 or at 1.0980 (78.6 fib).
Confluences are on the chart.
Confirmed downtrend with lower highs and lower lows
Looking like its reversing into 5th wave
MA crossover on 4hr TF
Rejection of long term trend line with tweezers forming on the daily TF
My tip is wait for the daily to close as a doji or spinning top. Stops above previous spike (122.090)
the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance.
As we go on lower...
OVERALL VIEW: SHORT.
The pair moves in long deep waves.
Failing to break the previous highs, we've seen the market begin a new downward cycle of lower highs, held only by 38.2" fib on the weekly chart.
This acted as resistance straight after the Brexit rally, and has since been tested three times and held as support. Demand is doing well to hold this favored...