Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on EURUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...
- Key supply area and failing to break
- Price is exhausted / long extended wicks
- Bearish pressure
- Break of 0.786 fib level and close below
I'll be placing an order @ 0.618 fib level. If price closes below the 0.786 fib level then I expect a move to the most recent lows.
Alot of traders have been trying to short EU last week... But the trend Keep moving to the upside....
Maybe with the way I personally look at EU right now, shorting it might be this week....
What do you think Guys
1.16000 is a key level that will be used as a springboard for the bulls to push price higher and higher. If you go on the monthly chart and mark this level on the chart you will see why. I am also expecting USD weakness as DXY is at a lovely resistance level also which adds confluence (another reason) for me to take this trade.
If you want to know more about my...
As per the support & resistance trendline, EURUSD is moving slightly upside.
The last candle is running at the control price. Its a pullback here. Now pay attention to the support trendline B . If it breaks down, there will be a fall up to the support trendline A .
It means it's a boom.
As I explained, It may fall for 1.18260-1.18000 levels below.
Yesterday I said that my bias on EurUsd changed to bearish and spoke about a potential target of 1.18.
This target was reached just now and considering the strong support under 1.18 I expect a rebound. O the other hand the old 1.18-50-1.1860 resistance should be well defended by bears and here is where I will look for selling opportunities.
A potential target can...
1st target 1.17000 as you can see its a great support zone and a nice round number! This price is still 80 pips away, my TP2 will be a lot deeper as i am holding it as a swing trade.
Again see how simple my chart is, see how you cant confuse yourself with charts like this? This is my advice for new traders... KEEP IT SIMPLE! I do have a lot more advice if you...
EURUSD has failed to break out the 1 hr trend line hence, going short for this trade for an hour. Hopefully the trend will go down until it reverses on the support line from 4 hr chart.
This analysis is not a recommendation, this is just an idea and do not take any responsibility for profit or loss.
According to this chart, EUR/USD will keep moving upside. S-RSI crossover is confirming that. We may see the following levels soon: 1.1865 - 1.1915.
Keep your eyes peeled at the hurdle (1.1695) .
Breakdown of hurdle: 1.1640 - 1.1600 .
I don't recommend selling the EUR/USD until the breakout of my hurdle.
Short positions initiate at the hurdle line with targets at 1.1720 & 1.1695 in extension.
According to the chart, the breakout of hurdle lines means a short downtrend. Hence, don't initiate a position before confirmation of breakdown. And don't buy/sell in that mid area.
GBPUSD and EURUSD tend to follow similar patterns as they correlate together
I am anticipating price testing hourly support before shooting off to a weekly resistance level
The 50MA will be tested and then price should bounce off of it.. I will look at the 15m chart for entry
With the drop of the GBPUSD the EURUSD will follow, the correlate quite nicely together and the GBPUSD usually moves first.
I see alot of divergence on the 4hr and daily timeframes which signals that a significate change in the market is coming, but before entry I will wait for price to break its trendline and support.
Then we will trade to the next level of support