Potential short opportunity here. The candles have broken through the rising wedge pattern, waiting for price to cross below the major resistance (dotted line) and the 13 EMA (purple line). If price breaks these two lines then would expect price to retrace around the 200 EMA (red line).
Price appears to be in a downtrend for the foreseeable future. Price has declined since a bearish pin bar formed off the 200sma in my bearish zone on the daily tf. Price also most recently broke minor support on the daily tf. Hoping for a retest and continuation to get in short to next daily minor support.
on EURUSD price is testing a key resistance area on the daily chart. As we go down on the 4hr chart, you can see it's created a nice pinbar (with a long wick to the top) along with RSI divergence at a psychological number (1,0800).
I'm waiting to see next bar, if it closes red, i'm shorting this pair.
Stops above the highs, target1 roughly at 1,25:1 RR,...
1. A good buy entry if price breaks above 1.05900 with T.P. @ 1.07800 with S.L. 1.04630.
2. A good sell entry if price break below 1.04100 with T.P. @ 1.02020 with S.L. 1.05150.
Here are the factors that may move the market for the week. Alternatively, check forexfactory.com calendar.
Jan 10 Tuesday 6:00pm SGT, EU-Unemployment Rate
Jan 12 Thursday 9:30pm SGT,...
today i want to show you an opportunity that i will be looking to over the next few days.
As you can see in the chart, euro has reached new lows last week, breaking the strong daily resistance that held for a long time. Now price is retesting the resistance level (that could become support) in confluence with a 382 Fibonacci retracement.
In the next...
The hammer candle from Tuesday bounced from recent resistance at 1.11200 indicating that sellers are not strong enough for a break below.
The Bollinger bands have also tightened showing a lack of volatility, which is often seen before a period of strong volatility.
I am holding out for a candle to break above the 1st top bollinger band and close in the upper...
Good morning traders,
I trust you are all enjoying your time off, whilst I have some time I decided to do another eur/$ chart, as most of you already know my incredible bearish outlook on the pair still stands;
The bearish break looks similar to that found in August 2015 suggesting a move toward the trend lows at 1.052xx
The ECB appears to be on hold for now...
EURUSD is in an upward channel. We will be looking for long position entries should prices move towards support - timing wise, we will be looking around the green highlighted area. Hoping it does not look like a 'picture in the clouds' sort of idea with the short-term H&S reversal or looking longer-term, a H&S continuation pattern. I have witnessed stranger...
the stage is set....
do not be fooled into thinking otherwise, eu is getting smoked
brexit, italian loans, immigration dirving a wege in unity
negative rates stimulus
not a single reason going for the euro
gl and see you bears at the beach club