Expectations are a decline.
Instructions - if trade flat or has not moved in the next 24 hours, take small loss or small profit.
Trade with caution, this is not financial advice.
Entry: Market
SL: 1.21650
TP: 1.20200
Confluences:
- Reverse head and shoulders pattern has been fully formed
- General downtrend on the monthly timeframe
- Expecting a bearish engulfing candle to form to signal the start of a downtrend
Posted earlier is a Weekly outlook of EURUSD. On a lower time frame however, the pair is showing high possibility of going lower. In the event that price rally up but got rejected below 1.22600, then the pair is likely going lower. A close above 1.22600 will indicate price momentum has changed to bullish even on H4; hence a long trade outlook begins.
N.B
- Let...
With Fibre unable to close above the closing level of Week 14/12/2020 at 1.22524 as posted last week (see below), the pair has finally indicates its weakness and ready to revert to its mean or below. Any short-term (H4) rally-up could possibly be a good short trade.
However, the pair on the longer timeframe is still bullish!!!
N.B
- Let emotions and sentiments...
EURUSD is now close to the predicted 1.23000 level as indicated in the Nov 7 post (see below). With the recent little pause, the pair has gathered much momentum to violate 2018 swing high at 1.25557 and create a higher-high in coming days/weeks...
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your...
- On the daily timeframe, EURUSD appears to be forming a symmetrical triangle pattern, and a fall towards the lower trendline would support the continuation of this pattern.
- Looking to the coming week(s), we should expect to see the price fall to at least the 1.09897 level, which proved to be a strong resistance level throughout April and May.
- By close of...
- On the daily timeframe, EURUSD appears to be forming a symmetrical triangle pattern, and a fall towards the support line would support the continuation of this pattern.
- Looking to the coming week(s), we should expect to see the price fall to at least the 1.09897 level, which proved to be a strong resistance level throughout April and May.
- By close of play...
As an update to our Jan 5 post on EURUSD titled "EURUSD-Likely-To-Find-Buffer-At-1-10977", actually, the currency pair actually found the buffer at that level. Now the H4 sentiments has turned bullish while Daily is still bearish. As a result, we are expecting price to re-test the low at 1.10817 EXCEPT the US/Canada/Ukraine vs Iran is escalated - in that case, EUR...
Gold broke lower out of this channel after testing this weekly level to the upside. Prices then pulled back after testing the daily level to the downside and is currently rejecting the 61.8 fib. If we see bearish price action I will enter short
GBP/USD is in a key area and we have had two 4hr inside bars. A break above this area would show that support is holding, therefore giving long opportunities. A break below weekly support at 1.2420 would see us short to around 1.2250-1.2200. It is important to remain unbiased and trade what we see here
