SHOW ME THE MONEY is what my ex wife said to me as she filed for a divorce, so i opened my wallet and sitting there was a £1 coin so that is all she got! Doesn't she know everywhere is pushing contactless payment now so i dont keep cash on me.
This looks like a lovely setup if you have patients, as we can see 1.16000 is a key level that has previously been used...
Looking at my chart you can see a clear resistance zone that price is currently at, so i can only see downside moves from here.
Also if you look on the monthly chart price is also at a good level of resistance, line this up with my outlook of a stronger USD this week now the elections are settled this makes a lovely trade setup so expect bearish moves.
We are waiting for the price of the box to break. The direction of the trade is clear after the box is broken, so do not miss it.
Fibo analysis, don't forget to like me.
20 $ for 1 month support,
35 $ for 2 months support,
50 $ for 3 months support
Everyday signal and secret lessons.
1.16000 is a key level that will be used as a springboard for the bulls to push price higher and higher. If you go on the monthly chart and mark this level on the chart you will see why. I am also expecting USD weakness as DXY is at a lovely resistance level also which adds confluence (another reason) for me to take this trade.
If you want to know more about my...
As per the support & resistance trendline, EURUSD is moving slightly upside.
The last candle is running at the control price. Its a pullback here. Now pay attention to the support trendline B . If it breaks down, there will be a fall up to the support trendline A .
It means it's a boom.
As I explained, It may fall for 1.18260-1.18000 levels below.
The support for the pair is very strong which has many touches before.
The Double top pattern has been formed on the 1 hour chart and now will reverse on the Support.
This is not a recommendation and do not take any responsibility for your trades.
Yesterday I said that my bias on EurUsd changed to bearish and spoke about a potential target of 1.18.
This target was reached just now and considering the strong support under 1.18 I expect a rebound. O the other hand the old 1.18-50-1.1860 resistance should be well defended by bears and here is where I will look for selling opportunities.
A potential target can...
Don't actually do that LOL
I am convinced that this is a strong setup though, On the 4H we can see price broke through resistance and has now come back down to test it as support before bulls step back in and push price higher. On the monthly timeframe price broke through a trendline and has just come down to re test that as support and also price is at strong...
1st target 1.17000 as you can see its a great support zone and a nice round number! This price is still 80 pips away, my TP2 will be a lot deeper as i am holding it as a swing trade.
Again see how simple my chart is, see how you cant confuse yourself with charts like this? This is my advice for new traders... KEEP IT SIMPLE! I do have a lot more advice if you...
EURUSD has failed to break out the 1 hr trend line hence, going short for this trade for an hour. Hopefully the trend will go down until it reverses on the support line from 4 hr chart.
This analysis is not a recommendation, this is just an idea and do not take any responsibility for profit or loss.