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This week the EUR/USD has hit a major resistance point, shown above, having been tested twice and upon both occasions the price has been rejected.
Watch closely this coming trading week, depending on news releases throughout the week regarding both the euro and US dollar (beginning Monday 24th April), could tip the price either way.
Will be posting an update and ...
As can be seen on the four hour chart a head and shoulders pattern is forming, strong resistance at 152.650 entered short trade at 152.620, take profit at 151.300.
it speaks for itself.
everything is plotted, watch out for fundamentals.
wait for the neckline to be broken
once broken enter a long trade or wait for wait for a retest.
Everything is plotted. wait for the retest.
watch out for the 14th, aussie fundamentals will be released.
Take prof is plotted as well. trail stop as you go.
everything is plotted.
watch out for fundamentals.
do be careful as today 5/12/2017 Canada's unemployment rate will be released along with a lot of fundamentals.
wait and observe, this is just one prediction. might happpen.
the purple line is a 50% retracement of in the daily timeframe. this would be a good profitable trade
although i have plotted a take prof you will need to monetize this as this currency is in a bull market and has been and i dont think it will change soon.
be sensible on how long you hold this trade for.
The bias of the bearish momentum is now back in motion. I have plotted all you need to know on the chart. head and shoulders. broken through a previous support region.
I recommend you [b]hawk the 4 hour chart and wait for a strong reversal candle once the price action reaches the baby blue ray i have plotted as that is what i will be doing.
Don't let greed ...
The bias of the bearish momentum is now back in motion. i entered a short on the right shoulder even after and while the consolidation was in play just below the neckline. I TP when i saw the price action started to retrace.
It did retrace and it has now reversed at 50% and tested it's previous support (now turned into resistance)
Everything is kept simple and ...
From the analysis i have done, it will be a plain Jane. You do not only see a break through the strong trend-line but also a head and shoulders pattern.
I have taken a deeper look into the 4-hour chart and believe it has already retested the neckline and will be entering a the trade.
(Take a look at the 4 hour chart, it has already tested its previous res and ...
Fib level 78%
ABCD trading C-D Leg
strong daily resistance
ABCD trading C leg
Fib level 78% line matches up with strong resistance on daily chart
trending down stalling then continuing
Sell order at 1.25478
break out of the uptrending range
I believe that eur_aud will continue to fall. Price rejected my fib level 38% level and then price started to fall hard. With continuing bearish movement. Also my MA's crossed over to the downside for added confirmation that price will arrive at 1.3250.