We have a triple top created on the EUR with great convergence with the RSI respecting a simple resistance at around 60% . If the triple top plays out and still fits my idea after market opening this evening, there is no reason this pair cannot fall to the 1.21500 supply area and further to 1.20711 support. Although we do have to take into consideration...
I have entered short today on the EURUSD ( I know not the best idea to enter a positin on a Friday but I'm still learning and I'm testing my aggressiveness )
On the weekly: The market has respected the major structure level now resistance, and the sellers aggressively took over.
EUR/USD remains in a 500 pip channel extending from 1.2093 down to 1.1548.
T.D.I. (Traders Dynamic Index) on the higher time frames suggest we are moving lower and a re-test of the 1.1548 low is a possibility.
As the 200 day simple moving average rises to meet the price, the more price is drawn to it.
A projection of 200 sma meets the bottom of the...
EUR/USD jumps by 44 points amid rate hike
As the currency rate was falling the last three weeks in a row, traders used the Federal Funds Rate hike to sell the Dollar and elevate the pair to the 1.1844 level. As long as market sentiment remains predominantly bearish the rate is expected to continue moving in southern direction. As for today, a deep plunge back to...
Ahead of FED Announcement on Dec 13th, NFP will be released on Friday.
Market sentiment is mixed. FED is largely expected to raise rates for the third time this year. The key factor will be the tone toward further rate hikes, as chances of getting another three hikes in 2018 have been steadily decreasing.
Our prediction is EURUSD will be priced between 1.17500...
So I'm expecting EURUSD to fall to 1.18040 zone before heading back up to 1.18725 zone which aligns with the descending triangle and double top formation and the new downtrend line proceeding the head and shoulder pattern, this also aligns with the possible shoulder being completed...
So long story...
just wanted to let you know what's my view about EURUSD. My analysis, as usual, starts from higher timeframe: in the daily chart i've detecred an already completed pattern at a previous level of structure (resistance) looking left. This creates the condition i want in order to trade and tells me the side that i want to join: the SHORT side. Another great...
here on EURUSD price is testing an important daily structure that could push it higher before continuing in the downward direction. This is a counter trend trade so be aware of it. Nonetheless, i can see some buying pressure at this level, thanks to the pinbar followed by a big engulfing. The pinbar represents the pressure that arises at the touch of a...
Price appears to be in a downtrend for the foreseeable future. Price has declined since a bearish pin bar formed off the 200sma in my bearish zone on the daily tf. Price also most recently broke minor support on the daily tf. Hoping for a retest and continuation to get in short to next daily minor support.
As my harmonic pattern target is approaching, i'm looking for SHORT position.
looking to start entry at 1.07800 and my TP will be at 1.05000
If the price climbing towards my SL and the signal still valid, i will move my SL 50pips above proposed SL.
There is a potential BEARISH CYPHER which seems to get missed, but since the RESISTANCE LEVEL is around @1.06300, we should still wait for a potential reversal. There are minor resistance and support levels being around 1.06100 and 1.05900. The next support level I would mention is targeted around 1.05600!
Strong level pullback test
Pullback in/between MA50;MA200
Daily momentum down
4H trading below MA50
1H momentum down
15M momentum down
Pin bar rejection of support/resistance level
Pin bar rejection of a trend line
after banking some pips over the night on the AUDCAD trade (see attachment) i want to share with you a 2618 trade that's forming on EURUSD.
For those of you who aren't familiar with this formation it basically consists on selling/buying the .618 retracement of the leg that breaks the double top/bottom's neckline. You can see the visual illustration...