I belive Eurusd is going to head back into the 1.14586 area to retest a key support level. Currently price is in no mans land. Once price reaches the key resistance level drawn in, we will be looking to sell it off to our first take profit level of 1.09456.
So for now this trade is going to require a lot of patience, as we will not be looking to do anything with...
We can see EURUSD has made a sharp fall to the downside, the first take profit level has been breached at 1.09456.
Now that price has fallen and closed below the first take profit level we will be now looking for our second take profit level: 1.05737. In addition, we will wait for a retest of the new resistance level and then look to sell it off.
Very basic set up. I believe USDCAD is going to sell to the 31.8 fib level, which is also in confluence with a mini structure level: 1.33440. Furthermore i also believe its going to sell off as you'll notice its at a key resistance level in which its rejected 3 times already : 1.34131. Moreover, its also decent risk to reward oppourinty.
I believe we are going to see Eurgbp make a move to the upside towards the 0.92523 level. As you can see we've already had a spike at that level previously in September, the market has pulled back significantly, which i believe is only a breather in preparation for another rally to the upside.
Moreover if you look back, you'll see the 0.88285 level acts as a key...
EURUSD SEEMS TO HAVE BROKEN THROUGH IMPORTANT DAILY SUPPORT AT 1.11200 INDICATING WEAKNESS
ALSO LOOKS TO BE BREAKING ITS ASCENDING CHANNEL!
DOLLAR INDEX LOOKS STRONG WITH YELLEN INDICATING RATE HIKES BEING PROBABLE
NICE SETUP FOR SHORTS TO WEEKLY SUPPORT AT 1.1000 AND BEYOND TO 1.08250
We can see on the H1 chart a double top has been formed. A good oportunity to short for intraday. Then when price gets to the 1.4300 level!!! whould have lots of confluences to go long as a swing trader....
We have recently seen big bullish move on the 1h chart giving us the opportunity to catch a lot of pips on the way up to the monthly key level.
Anyway this is a BEARISH MARKET and we've got to be really carefull. We don't wanna get caught on the shorts.
This trade is taken on a 1% risk on the capital of our account.
Looking at the weekly timeframe, we see that EURUSD has been rejecting the level of 1.13500-1.4ish, and the Fib of 23.6%. We need a break and close above key monthly resistance+ trend line break at 1.15 which will lead us to 1.18500 + the 38.2% Fib. Also it looks like a higher high is about to be achieved for the EUR along with higher lows on the DAILY timeframe....
1.4166-1.4133 price consolidated and dropped. meaning alot of sellers sold at that area meaning a possible unfilled market orders still in that zone.... an example of this below when price on a daily TF reacted and dropped from my zone 1.4101-1.4081 so i expect the same. i will take profit at 1.38500 and i will move my stop loss into profit once it begins to...
Pair ranging in wave 4 Major on weekly chart. Now start forming of wave C of 4-th Corrective wave. We expect wave C to contents waves 5 Minor impulse waves. In next four-five months we expect sharky moves - many up downs and spikes and movement to finish in areas over 1.1700. Until March 2016 we expecting US interest rates to go up and that will be the start of...
