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.
You cant lose what you never had to begin with rite :p
1.18000 was a lovely level as we had Trendline lined up with resistance, price hit these and bulls tried to break through to the upside, bears were too strong and pushed price back down below these 2 very important levels which created a spike that would have taken peoples stop losses out before dropping.
Look how well this trade played out, bulls tried to push price through this strong trendline and resistance level but the bears were too strong and pushed it back below our levels. 1.19000 is where i got in the short trade so i am currently running +90 pips and because trade is deep in profit i have left this open over the weekend. I will only leave trades open...
Next stop or point of resistance will be 1.19000, I was looking at 1.18000 been used as resistance which we caught 30 pips off the bounce before price broke through this level then came back down to test it as support before moving up.
So now i will be looking for at least a 60pip bullish movement at market open and when price reaches this level i will be looking...
According to this chart, EUR/USD will keep moving upside. S-RSI crossover is confirming that. We may see the following levels soon: 1.1865 - 1.1915.
Keep your eyes peeled at the hurdle (1.1695) .
Breakdown of hurdle: 1.1640 - 1.1600 .
I don't recommend selling the EUR/USD until the breakout of my hurdle.
This should be fun, i mean i have heard nearly every chat up line going but I'm sure a few of you will surprise me haha.
Marked on the charts you can see some key levels, These 3 key levels are at nice round numbers and look how well price respected these levels, is it a coincidence or are key round numbers really the best place to set orders ;p
We could see a...