EURO/USD RSI SIGNAL ANALYSIS - Diagonal parallel channel acting as confinement zone for price, good for timing buys/sells and for stops above or below. - Red zones on the chart are oversold levels and green are overbought. RSI OVERSOLD - Can remain oversold for 28 - 30 weeks - Prime time window to buy is from week 26 - 28 RSI OVERBOUGHT -...
The EURUSD pair is staging the strongest long-term buy opportunity, the kind of which we saw last time on our May 30 bottom buy idea (see chart below): As you can see that was the most optimal Higher Low buy entry inside the (then) Channel Up pattern, a formation which we've modified since into the pattern you see on today's analysis. The price recently...
Due to the price action signs and buyer weakness, there is potential for a significant decline in the EURUSD within the 15-minute time frame.
The EURUSD pair got rejected at the top of the Channel Down, which keeps the trend bearish. This is the first bearish formation after our July 10 buy signal (see chart below) that formed the temporary High: As long as it stays below the Channel's Lower Highs trend-line, we will be bearish, targeting 1.08450 (above Support 1). The 4H RSI however is on Higher...
The EURUSD pair is about to form a MACD Bearish Cross on the 1W time-frame, which is the chart that perhaps serves at understanding the current situation better than any other. It's not just the Channel Up pattern since November 2022 that is driving the trend but also the candle action on weekly terms. As you can see after each Channel Up top (Higher High),...
The EURUSD pair is rebounding just before hitting the 4H MA200 (green trend-line), with the 1D RSI printing a similar formation to the January 06 2023 rebound. Within this 8 month Channel Up pattern, the 4H MA200 has been the pivot between bullish and bearish sequences, hence the Support now that we are on a bullish leg. As long as it holds, we are expecting the...
EURUSD gave us last week a very successful buy signal (see chart below) after the 4H Double Bottom: Our long-term Target of 1.11350 has been hit and now we look at the next most efficient level to buy as this is an extension of the long-term Channel Up pattern to form the technical Higher High. As you can see on this chart, this bullish wave resembles those...
EURUSD followed the buy recommendation we made more than a month ago on the market bottom (see chart below) precisely on the way to our 1.11350 long term target: The price is now above the 4H MA50 (blue trend-line) with the 4H MA200 (orange trend-line) strongly supporting, having almost caused the Double Bottom of last Thursday. The break-out above the Lower...
The EURUSD pair has entered its new bottom phase to price the new Higher Low on the 6 month Channel Up. That has completed the sell continuation we called after the 1D MA100 (green trend-line) broke 3 weeks ago and set a 1.0700 target: The 1D RSI break-out above its MA trend-line, practically confirmed the start of this bottom process. We can't overlook the...
On Friday's EurUsd market commentary, I've written that the 1.0750-1.0760 zone is strong resistance for the pair and a break above could lead to gains towards 1.0850 and to a change of medium-term downtrend. The pair, indeed reversed from that zone, but what should have been a correction is looking more and more that a resumption of the move started in...
Two days ago I've written that EurUsd could be ready to reverse to the upside, but for confirmation, we need a break of 1.0750 zone resistance. The pair took a dive under 1.07 at first, but this proved to be a false break and now is trading again in this important level o resistance. The recent rally from around 1.0630 is very strong and indicates a bottom is...
Yesterday, EurUsd spiked under 1.07 and, after a low at 1.0674, the pair reversed and managed to break back above the falling trend line started at the beginning of the month (we also have a long tailed bullish engulfing on our daily chart). This spike and reversal could very well suggest a bottom in place and EurUsd could be ready for more gains. Confirmation for...
Last week, as well as two weeks ago (see charts below) we called for a sell continuation on EURUSD after the 1D MA100 (green trend-line) broke and called for a 1.0700 target: The target was reached and as you see the price hit the Inner Higher Lows trend-line of the long-term Channel Up, similar to the Low of February 24. At the same time, on a perfect...
The EURUSD pair is close to hitting our sell target as presented to you on our last week's analysis (see below): The 4H MA50 (blue trend-line) remains the Resistance since May 08 and following the 4H Death Cross, we are on the 2nd part of the correction within the 6-month Channel Up. The Lower Lows as defined by the previous correction phase of February show...
The EURUSD pair is still trading inside the long-term Channel Up pattern we identified more than 2 months ago and bought the bottom (see chart below): With the recent price action however, we shift our attention to a shorter term Channel Up due to the possibility of extending the recent selling. The pair is basically trapped within the 1D MA50 (blue...
The EURUSD pair continues to trade inside the long-term Channel Up pattern we used to call for our big bottom buy more than 2 months ago: Today the price is testing the 1D MA50 (blue trend-line) for the first time since March 24, having broken below the 0.236 Fibonacci level for the first time since March 17. The 1D MA100 (green trend-line) was the level that...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.