Dollar Index looks growh up soon. You can watch dollar index (DXY) as guidance for this pair.
You must patient for safe trade.
Wait until the price breakout the support line (grey on chart).
After retest thats the best entry position. Place the stoploss above the suport. (Maybe 30-40 pips, depend on you)
Remember if price has broke, Support become the...
This post for educational only.
As my previous post must wait to entry position on this pair.
Now EURUSD broke the line..
Now you can entry buy now. Because have retest on lower time frame.
How to avoid false breakout?
Place STOPLOSS below the wick.
If there is price reversal. You can change sell setup, watch the bearish candle confirmation.
Find the lower...
The USD's strength in the past few days keeps pushing this down. In my last post on this I hoped it would hold at 0.382 Fibonacci but did say it could drop to 0.5 and 0.618. This price aligns with previous structure so there will be support here. For the moment it is still bearish so we need to wait for a sign that it will turnback before entering another long....
Welcome traders to a free analysis breakdown.
Today I am highlighting possible trade ares on EURUSD, if you any questions on the pair let me know in the comment section below.
Once the pair gives us a valid trade entry I will be sharing the trade with the Alpha community, I hope you all found this breakdown helpful .
If you liked this free educational please...
This is just an idea and analysis on my own and is not recommended to use the same. Just sharing what I think is going to happen in the future. This analysis is not responsible for any loss or profit. Please do your own research before placing the buy orders.
according to the daily timeframe this trade is a downwards trend. However, as the trade entry is coming off a very abnormal S/R, there is a small chance the trade can go the opposite way!
does not fully comply with my trading plan but its a Monday so F*** it!
P.S We also got USD news at 1.45PM (UK time)..
EURUSD in this triangle, consolidation, so the best option is to look for cycles to develop and trade it with the W and D trend. For now, waiting for price to take previous high and when it pullback it will be the time to go long, targeting previous D highs.