I previously marked up a bullish opportunity and i have attached the analysis below. Since then, price traded higher and has retraced into what i would see as a flat correction. From this point on, price has the potential to move bearish toward our take profit at 0.70752
The stop loss has been placed at 0.69010 creating an opportunity with a 1:2 risk to reward...
Why is EURUSD correcting lower after such an impulsive breakout?
Firstly, we have nothing in the way of major economic releases or ‘news bombs’ to send the major currency pair in either direction.
After an aggressive turnaround in stocks, we have seen the market relatively flat this week as we consolidate...
As you can see from our resistance zone ( red box ) price has used this numerous times as support and resistance, this time some bad news pushed price down into this area again but priced bounced in a bullish manor.
We have some USD news coming out in just over 1 hour and the outlook for this news is better than expected for USD so if this comes in as expected we...
EURUSD is forming a bullish doji on 4H after a retest of our broken daily descending wedge pattern.
This retest lines up with a strong daily resistance, the neckline of a double bottom and 61.8% fib retracement.
I am already in this trade with entry at 1.1226.
There is high impact EUR news at 18.00 gmt so I will be moving my SL to break even nearer to the time.
EURUSD has broken and is now retesting a daily descending wedge chart pattern.
The retest lines up nicely with an area of strong resistance, the neckline of a double bottom formation and the 61.8% re-tracement of the previous bull run.
Target 1 is at the previous high 1.1330 (113 pips), target 2 is a daily resistance and 1.27 fib extension at around 1.1415 (195...
Our clients come 1st, this is why we teach them in the simplest form, as you can see from our charts SIMPLE IS BETTER.
We are on a mission to show people how easy trading is if you peel back all the b#llshit and don't let people brain wash you in to thinking any different! Half the crap put on the internet is put up on purpose to confuse people so they fail and...
After finally breaking out of this major channel pattern since the start of the year, we can see that price has also broken this current resistance too. Waiting for a retest of the now-support level 1.12150 area to then go long and let the bulls take control.
EURUSD is coming to the end of it's RSI Flag and Candlestick falling wedge. Candlestick and RSI in absolute sync. I'm feeling bullish, but i have seen falling wedges on EURUSD end up bearish in the past... please leave youR opinions below!
We will be keeping a close eye on this trade and you should also, this is only analysis and not a signal.
As we can see from the chart that price has been respecting our daily trend line ( TL ) for months now with each retest of this TL coming from a bounce off strong support but then breaking this support.
Now price has just recently bounced off another key...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.114.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
What are we expecting from this pairing this week...
We can see price was respecting a lovely trend line for around 6 weeks, price recently made a bullish run and broke out of this trend line, what we are expecting to happen is price coming back down to respect this trend line and then pushing higher to reach our resistance zone ( green box )
You can also see...
As you may have already gathered, I am a Bullish Trader. My edge is bullish, so I only buy and I don't sell.
EURNZD reached some daily and weekly support where price then reversed Bullish. I have pulled Fibonacci retracement from the start of the bullish move at the bottom to the top where price started retracing. I always mark my entry points at 50% but do...