The exchange rate is moving in a fairly regular upward wave. The sequences are well identifiable. The ascending sequence is 1-1-2 and the correction sequence is 2-1. In case this regularity lasts for a few days. the exchange rate may rise to 1.12067. You can also see that the current level is suitable for taking a long position.
Monfex is at your service and today we overview EUR/USD.
EUR/USD still is in the downward channel and now the price has approached to the resistance line, and the MA100 also there. Enter a short position from resistance is a good practice.
The target for this idea is 1.08824
Stop lose for our short and buy price by the breakdown - 1.10231 with the...
After breaking from this larger descending channel structure, it seems price is creating a smaller, ascending channel pattern in which we can now see price coming to the supporting trendline of this channel. Aiming for a simple range fill around 120pips
The market has fallen toward the lower channel line. We can expect it to complete the move by returning fully for a retest, where it will either reverse or break through the trendline (lower red line). However, there is a short-term price barrier which must be overcome before a retest is possible, which may have gone relatively unnoticed.
Observe the first swing...
EURUSD - Intraday - We look to Buy at 1.0924 (stop at 1.0894)
Broke the sequence of 2 negative daily performances. Bespoke resistance is located at 1.1026. The previous swing high is located at 1.1024. There is scope for mild selling at the open but losses should be limited. Preferred trade is to buy on dips. A break of bespoke resistance at 1.0960, and the move...
- Currently looking to go long EUR/USD we have bullish divergence on both the daily and 1 hour time frames. Possible reach down to lower trend line before reaching new highs, although we're currently on a nice support area. For now, I have a limit order just above the previous 1-hour...
Whos having a few beers this weekend then? we defiantly are after smashing the markets again.
So for EUR USD we are looking for a 4th touch of our trend line and possibly the break, we will be sitting patiently ( beer in hand ) waiting for this trade to play out as this could be a killer setup for a few hundred pips!
So bullish moves from this point!
EURUSD - Intraday - We look to Buy at 1.0910 (stop at 1.0880)
Trades at the lowest level in 27months. Previous support level of 1.0926 broken. Price action has posted a Doji candle and signals a possible reversal of the recent trend. The selloff is close to an exhaustion count on the weekly chart. The 161.8% Fibonacci extension is located at 1.0917 from 1.1110 to...
EURUSD - Intraday - We look to Buy at 1.1050 (stop at 1.1020)
Majority of the initial daily gains being overturned. Posted a Bullish Outside candle on the Daily chart. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Intraday, and we are between bespoke support and resistance 1.1050-1.1140. The trend...
The movement of the exchange rate is in the reverse wave fractal established on the basis of the previous analysis. In the event that this movement structure persists, I expect a further rise. The Target Price is 1.1231, showing a nearly 1.31% increase from the current level.