EURUSD – SPOT: Selling On Retracement To Within The 50% Range Of Bearish Fakey + Long-Tailed Pin Bar Setup
Price Action: Price formed a Bearish Fakey + Long-Tailed Pin Bar Setup overnight.
Price exploded higher from the Giant Bullish Fakey Setup that had formed late last week (We did not consider trading this setup, as given its huge size, it would have been...
EURUSD – SPOT: Selling On A Retracement
Price Action: Price moved higher from the Inside Bar Pattern that had formed late last week (We did not consider trading this pattern).
Price moved significantly lower from the recent Bearish Multi-Bar Fakey + Pin Bar Setup (Event Zone) that had formed over four weeks ago (We suggested trading this setup in the April 25th,...
Wow, as I see in the past 3 weeks, I catch up my prediction that Euro/Sterling Pound is drop, now this is the reality it.
Now, if you see, this is a bear scenario that I see in this par
Now, in H1 we see an Euro so bearish and we hope an entry short in this green zone with the good candlestick + confirmation to entry in short
Fundamentals Keys:
1. Euro/...
The European pairs have closed back below the Weekly/Monthly Support....And a Head & Shoulder pattern is seen to form at this support (strong confluence!!) on the Daily chart. We can expect price to meltdown to the Weekly ascending trendline below to act as support. For now only look for sells!....price is retracing to a 61.8 zone
EURAUD - Daily time frame. I was anticipating a reversal pull back on this pair for a few weeks and now i can see this pair and euro pairs falling into a corrective structure on daily time frames. After this big corrective move I see further strength in euro pairs and another extension/impulsive move to the upside on weekly time frame.
Fundamentals: - The QE program in the Euro zone is still well under way and the latest Non Farm Payroll figures squash Janet Yellens speech last week which I expect to bring the Euro back down to major support levels. The recent rally in the Euro has mainly been caused by the weaker USD which now seems to be back on the strong side. I will be looking to sell again...
Fundamentals:- The Euro is still one of the weakest currencies out there at the moment and with further stimulus likely in March from the ECB we should see further downside. The AUD has been showing some strength in the economy but still has some mixed data. It is the technical picture that makes this trade more attractive at the moment.
Technicals:- As you can...
The success of this trade is really going to depend on the outcome of the ECB press conference later today. If the ECB is dovish then the Euro will fall to previous lows of this year. However if they come out with hawkish tones in their language then we could rally back to 11050 and 13000. The fundamental direction for the Euro is bearish so I expect it to return...
