Eurusd has been in a lateral channel for about a day. Waiting to buy if it breaks 1.11737 One could also See a descending triangle (in blue). It has already broken out of this formation and we should see some further upside if it is valid.
Eurusd has been in a lateral channel for about a day. Waiting to buy if it breaks 1.11737 One could also See a descending triangle (in blue) It has already broken out of this formation and we should expect some further upside if it is valid.
I'm sure many of you have heard about fears of trading on Sundays. Some call it "Trap day" which is a term used to describe a consolidating market. This happens quite frequently on the weekends and we usually will not see a major move until later on in the week. Since it is a Sunday in the market, I will just be setting up my charts. In the chart you can see...
A break and close above the .7500 would open the doors for higher prices. Nice inside bar + bullish combo at a key level. There is a cause for concern since the UK will be electing a nice prime minister May 7th. This may or may not cause volatile market conditions in GBP.
I think we are ending the impulsive wave. Short trade in sell.
Here we have a daily chart setup of the Euro against the US Dollar. The pair is trending in a downtrend so we will be looking for shorts. Confirmation of the downtrend is price currently trending below the 200MA. You can see rejection off of the downtrend-line. At that rejection point you can also see a bearish Evening Star pattern formation followed by a pullback...
In May Forexspecs.com expect decline of EURUSD pair. This Friday NFP data can spike pair up to levels over 1.1320. In medium term butterfly model is valid with long term target over 1.0300 area. Timing is only factor for right wing of butterfly can extend to 1.1320.
It is possible, before we reach the target of bat pattern mentioned above on Daily chart, that we can see the price to go test Pivot Zone. For this to happen, the price must break the channel. Let's see how many times will need to test or if it breaks down the area, or a continuation of upward movement to Bat Pattern target Point D.
TREND CONTINUATION OR REVERSAL EITHER WAY, JUST FOLLOW WHERE THE MONEY GOES NOT WHERE YOU WANT THE MARKET TO GO, MARKETS EBB AND FLOW CONSTANTLY.
Alright everyone this is a pretty crazy post because I am going to try and predict the end of the bearish EUR/USD. USD/CAD is the one that helped me come to this analyzation and the monthly chart on the EUR/USD. As you can see USD/CAD has been at an uptrend since 2013 and finally broke support around 1.23410 level after 11 weeks of consolidation on the weekly...
The pair now is finding support against the uptrend line that started it in March 13. The price didn't got break a resistance in level 1.10281 which is the 61.8% retracement after the fall since February 26. Also we can see a triangle ascending pattern that is being built. I choose a long position for the current level of market with take profit in 400 pips and...
Over the coming month I expect the EUR/USD to move lower and continue its downtrend. However, with looming Greek decisions and the recent retracement strength, I plan to wait until prices form and confirm a double top.
Breakout or not in eurusd is still not clear but the way dax is moving (short euro and long dax) is coming to an end with dax now at upper trendline resistance of 11900. Too many shorts in the system already and any position being closed out or any news -ve for euro will lead to reversal in eurusd as well as in dax. Go long in EURUSD and short DAX
#eurusd has fallen strong after Draghi`s statements about details of QE and Greater appreciation of the dollar with employment data, this trend continues we likely support at 1.05 approximately where the value 161.8% Fibonacci retracement is met, this objective could be met around the release date of data eurozone CPI for February
EURUSD has seen a significant drop after the rally that occurred during the Greek elections. This formed a bigger picture demand zone for the EURO. The intermediate supply zone highlighted has a lot of PA in the area, so it may only hold through one retracement back to the level. The next time price gets to the bigger picture demand zone, it will be the first...