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.
I'm a beginner but the head and shoulder is to become. I seen that other spotted it. So does this pattern mean as it says in the books or what will we looking for if it's fake news.
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 ...
EURUSD Sideway and rejected by 0.618 level
After EURUSD hit 1.1910, price couldn't
make higher high any more
and what we can see is equal highs that rejected
from 1.1815 the 0.618 level.
Therefore Short EURUSD now , SL above 1.1905
TP1: 1.1662
TP2: 1.1450
Good Luck
Although we're in a 4hr and 1 hr downtrend, price looks to be seeking out the outer channel line for support, as well as the green dotted support line where daily and weekly buyers live. These buyers have breached from here previoulsy as well as bounced price from here.
This green line is representative of very good buying value, this should be your target entry ...
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