EURUSD appears some more downside is inbound. Price is struggling to break higher and daily timeframe shows some nice resistance forming at this level.
1hr bullish TL is now broken and price is below daily pivot. I am looking to short down to the 1.1200 level where the 4hr/daily TL is for a retest.
Long term I am bullish but a pullback south is due first
the downfall starts from here.
Each of the candle making lower high and lower low this is good sign for the EU to go down.
LBLS indicator is in blue still i am bearish here.
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First of all: the last trade which we short from 1.1994
is very profitable. +300 pips, so it is wise to take some profit of the previous trade
PLAN A: If the bullish BAT pattern works
and price failed to break down 1.1660
,we can consider to buy EURUSD and aim for 1.1841 and 1.1937
PLAN B:
If NFP is very good and Dollar get strong,
when we see 1.1660 is...
Will be looking for reversal patterns to form around 78.6 and the Downtrend. This short will be invalidated if it continues break but I can look to go long if I see a break and retest on the 100 fib
Definition trend and change of trend ( Trend reversal)
Downtrend - Definition
A downtrend comprises a repeating sequence of:
1) A downward extension
2) A swing low
3) An upward pullback
4) A swing high
A downtrend ends when price breaks the swing high which leads to the lowest swing low of the...
The euro has been falling against the sterling, There has been an overall negative correlation, the whole market is going short. This is a good indication for long term trades. However the market has been bouncing in the short timescales such as M30. Therefore in my opinion, after this high of 1.13356 I believe the market will see a big downfall, however this is...
We might feel that as the 30min chart is bit weakening in the EURUSD counter part ,it might come down.
It is not the actual case!
The price may bit come down until 1.13200 below to this there is no down as of now possible.
EURUSD has stong up line hence after this point reversal price will quickly jump to reach 1.3500 and 1.3600 level.
LongbuyLongSellindicator...
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.1185.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: R1=1.122.
TP4: R2=1.124.
Set the stoploss of these orders at breakout of S2=1.1175.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
What are we expecting from this pairing this week...
We can see price was respecting a lovely trend line for around 6 weeks, price recently made a bullish run and broke out of this trend line, what we are expecting to happen is price coming back down to respect this trend line and then pushing higher to reach our resistance zone ( green box )
You can also see...
I only use take profit / limit orders to close a position if it is not possible to watch the trade play out. I quite often find when placing orders to close a position that the target will be missed and a profitable trade is lost. This is how I would move my stop to protect profits if in front of my screens. It means I will not get out at the top but I will catch...
The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.
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