EURUSD was very bullish this week.
Preparing for the next week here are the closest key levels that I spotted:
Resistance 1 - 1.9665 - 1.2 supply area
It is the closest zone that I would consider for shorting.
Let the market reach it & then look for confirmation on intraday timeframes to short.
Support 1 -...
EURUSD is very close to the year's low.
On a chart, you can see your detailed trading plan.
All the steps in the plan must be strictly met to make the plan valid.
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- Ascending channel
- Following the 4H EMA
- Looking for rejection previous resistance and the support line of the channel for bullish confirmation
Will wait for bullish confluence among indicators (currently not in our favor) before entry, to further increase trade probability.
- The UK unlocking on Monday 19th could see a boost in the...
Here is our forecast on EURCHF.
The level where the price is trading right now is decent
and the price will most likely retrace from that.
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Another strong day for the dollar index as the bulls push higher. We now wait patiently for the 200EMA to be tested.
Is this fundamental data being priced in early? We have seen a volatile bond market recently and key economists predicting a strong dollar before the end of the year.
We covered this in our last publish looking at the DXY and how we could be...
The gold price is in an important position - in the correction zone formed by two support and resistance lines. This zone appeared within a long-term downtrend channel that has existed since summer 2020. Let me remind you that after a strong fall at the end of February, the price came to the support line 1675.40 - the lower border of the downtrend. The price...
Sell: USD / JPY
SELL limit: 110.245
SL @ 110.450
TP @ 109.650
Max Risk: 2%
(When calculating, do not forget about different spreads from Brokers)
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Have a good week to everyone
A good buy opportunity is unfolding for usd/chf. Currently trading in an ascending channel. Another attempt for the top of the channel is going to happen soon. The aim is to trade Wave C of this correction. I am looking to enter at 0.91 and at 0.9055 with SL at 0.902 (conservative SL = 0.896) . This will be an aggressive trade, with a stop loss at 0.90. The RR is...
Price is currently trading around the 0.8570 region. We have seen strong rejection off 0.8564, combined with key level, trendline and 61.8 fib level bounce. If we see a bullish candle close buyers could take control. A break through could see a test of 0.85. We remain bullish on this pair having bottomed out on the HTF and rising COVID cases weighing on the GBP.
Price has been in an overextended cycle to the upside. We are now beginning to see downtrend structure forming on the 4HR Chart, with lower lows and lower highs. Price has bottomed out at the 80 whole level. Will the channel continue to be respected?
EURUSD still leaves bearish clues.
Trading in a long term bearish trend,
the pair started to slow down a bit,
but still keeps falling within a falling parallel channel setting new lower lows and lower highs.
I believe that bears will keep pushing the price to the year's low.
1.17 - 1.172 is the major demand...