On the left is trading, on the right is theory. The entry level is around 1,1092. This level is an H1 head-shoulder or an M15 ATR half distance. In my experience, these two signs together are a sufficient condition in daily trading. The target price is H1 MA100,200 crossing points. The target price is 1.1190
Currently, I have identified a rising fractal pattern in the movement of the exchange rate. The analysis shows that ATRs also double (yellow rectangle). This assumes increased volatility for next week. If the analysis is correct, the exchange rate may start to rise significantly. Target Price 1.1594 In the event that further south is on Monday, the analysis is incorrect.
There's a lot going on here.
-Bullish Pin bar rejects 1.10650 support level and weekly trend line.
-The poorly circled area (my bad) shows shift in momentum past the previous swing.
-The exchange rate retraces 78.6% on the support that price most previously rejected.
Looking to go long ya dun know.
Continuation of the analysis with the previous observation that the EURUSD movement is reversing. More specifically, the wave sequences rotate around the orange axis of symmetry. If my theory is still correct, then around 1.1169 the exchange rate will have to turn north again. In this case, I am calling a long position with a target price of 1.1455. This...
As far as risk goes you have to.. for the biscuit. We see Multiple technical confluences surrounding the 1.1170 handle with an X marks the spot scenario. Quarterly chart implies a continuation of the long term up trend for the pair.
We are sitting around the 61.8% Fibonacci retracement level and have support from an ascending and descending trendline. With the...
Price has been acting within a parallel trend line channel and has recently hit the resistance line of this. Price has also reached a strong horizontal resistance zone and has bounced off which gives a us a short term long bias. Trade has been input with a Stop Loss of 40 pips and a Take Profit of 110 pips. FX:EURUSD
EURUSD - Intraday - We look to Buy a break of 1.1155 (stop at 1.1120)
Trend line support is located at 1.1125. Majority of the initial daily losses being recaptured. Posted a Bullish Hammer Bottom on the Daily chart. Economic figures could adversley affect the short term technical picture. A break of yesterdays...
I suppose the wave sequence remains. I always look for wave sequences near significant levels. These are the ATR axles or in this case the MA100 level. It can be seen that in the split figure, the first and second sequences perform the same forms of motion. Therefore, I assume that a wave sequence will not be continued to the south, but a wave sequence. If my...
I base my assumption that the exchange rate channel is currently rising. Yesterday's correction could have been a downward shift from this wave channel. This is also confirmed by the fact that the fractal in the previous triangle also carried this wave structure. I now expect a more sustained rise.
EURUSD looking like its formed a new channel showing a clear continuation pattern in pursue of a bullish direction. Alongside US weakness ahead of us with major bearish signs on the DXY, this may be the push the Euro needs to complete this move.
EURUSD - Intraday - We look to Buy at 1.1228 (stop at 1.1198)
A 5 wave bearish count has been completed at 1286. Expect trading to remain mixed and volatile. Bespoke support is located at 1.1228. We have a 61.8% Fibonacci pullback level of 1.1288 from 1.1193 to 1.1286. Ichimoku cloud support comes in at 1.1288....
EURUSD - Intraday - We look to Buy at 1.1230 (stop at 1.1200)
A 5 wave bearish count has been completed at 1.1193. Selling posted in Asia. The rally has posted an exhaustion count on the intraday chart. The medium term bias remains bullish. Trading between support at 101230 and resistance at 1.1300. We have a...