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.
I have entered a long position on EURUSD for the following reasons;
1) Jumping late on this move - but I still believe there's a lot of potential for moves to the upside in this bearish market.
2) Recent touch of trend line and strong rejection indicates moves higher.
3) Close above fib 0.618.
4) Close above 20 ema supports bullish bias.
Let's see how this...
Price tested flip horizontal resistance + 0.5 fibonacci retracement level + downtrend resistance. The market is printing the head and shoulder trend reversal pattern. RSI is also printing a Bearish divergence signal. A breakout below the neckline of the H&S pattern could lead to further dip.
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...
If you would like my strategy so you can also profit from it then send me a message or comment on this post, it is COMPLETLY FREE!
I think we could see some downside moves from this pairing as our support zone has been touched more that a £10 hooker, the more times a level is touched the weaker it gets! A bit like knocking a wall down with a sledge hammer, the...
The EUR has been bearish for a Week now and it has now crossed the support on a 4 hours chart and heading towards the next support line 1.17131. I would go Short in this trade.
This is not a recommendation and only an Idea Please do your research before placing the trades.
The support for the pair is very strong which has many touches before.
The Double top pattern has been formed on the 1 hour chart and now will reverse on the Support.
This is not a recommendation and do not take any responsibility for your trades.
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...
Don't actually do that LOL
I am convinced that this is a strong setup though, On the 4H we can see price broke through resistance and has now come back down to test it as support before bulls step back in and push price higher. On the monthly timeframe price broke through a trendline and has just come down to re test that as support and also price is at strong...
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...
You cant lose what you never had to begin with rite :p
1.18000 was a lovely level as we had Trendline lined up with resistance, price hit these and bulls tried to break through to the upside, bears were too strong and pushed price back down below these 2 very important levels which created a spike that would have taken peoples stop losses out before dropping.
Look how well this trade played out, bulls tried to push price through this strong trendline and resistance level but the bears were too strong and pushed it back below our levels. 1.19000 is where i got in the short trade so i am currently running +90 pips and because trade is deep in profit i have left this open over the weekend. I will only leave trades open...