Past Performance The Euro uptrend could be over, reading from the price action in the daily chart. For the first time in roughly seven weeks, USD bulls pushed prices below the middle BB or the 20-day moving average. This follows the high volume rejection of higher prices on May 4 from around the 1.1100 primary resistance. #EURUSD Technical Analysis The...
Past Performance Euro prices remain in a range, evident in the daily chart. Even though the uptrend remains, the failure of buyers to break above 1.1100 points to weakness. As it is, USD bulls appear to be building up momentum. Still, the uptrend remains provided prices range above 1.0965, the local support level. #EURUSD Technical Analysis The consolidation...
Past Performance The uptrend remains, but USD bulls are rejecting attempts higher. From the daily chart, primary resistance lies at 1.1100, marking May 4 highs. The failure of prices to move higher last week supports bears. There must be a sharp dump below 1.0965 and the middle BB, or the 20-day moving average, for sellers to fully take control. #EURUSD...
Past Performance Euro prices are lower as USD bulls rejected attempts for higher highs. The immediate resistance lies at 1.1100, as a double top will likely print in the upcoming sessions. A notable development when prices rejected higher prices on May 4 was the rise in trading volumes. This may suggest that USD bulls are keen to participate, a move that could...
Past Performance Euro bulls have the upper hand, printing higher highs in the daily chart. Gains of May 3 were conspicuous but failed to break out above 1.1100. Still, the bulls have the upper hand despite the clear double-top forming. #EURUSD Technical Analysis The Fed raised rates but didn't push the Euro above the immediate resistance level. The May 3 bar...
here we can see a break out and a clear uptrend and we can now confirm that its using its previous downtrend as support so we are looking for a great entree
Euro is strong. Buy and aim for a 1:3 risk reward ratio. Stop loss below 16.28 with take profit above 16.65
Is it a double top? Not quite yet! It's too bullish to even think about shorting the Euro. Alright, I'll cut to the chase... Elliot wave count suggests that there is more to come for the euro. 1.22 level isn't that far away and it wasn't long ago that Euro was supported at 1.19 level. So, according to Elliot, there should be a final (wave 5) push up before we can...
The so called "Trump effect" was again in play last week as the markets sold the USD whilst he gave his press-conference; so I thought I'd put that theory to the test and have an alternate Elliot Wave count to the upside similar to my original idea EUR Long idea I posted back in Jan 2017. This is again is becoming my preferred count as I anticipate the a...