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...
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...
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...
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...
This pair has created a nice double bottom followed by an engulfing bullish candle which suggest a reversal. Also has reached to a level where this pair reacts historically. RSI also oversold situation. I have gone long on this and marked the tp and sl for you as well.
Let me know your thoughts.
Trade safe and good luck.
Right, Right , Right! EURCHF Stumbled across some solid support before reversing Bullish. As you can see Bulls have been in control for some days now.
Price is approaching a critical resistance zone ( the grey price level price is approaching) where we may potentially see price pullback which may also been seen as 'profit taking' .
Price has potential to retrace...