Why is EURUSD correcting lower after such an impulsive breakout?
Firstly, we have nothing in the way of major economic releases or ‘news bombs’ to send the major currency pair in either direction.
After an aggressive turnaround in stocks, we have seen the market relatively flat this week as we consolidate...
As you can see, as EURUSD reached resistnace, it bounced off of the resistance line and started its bearish trend. however, it returned to that resistance line and reflected off at the same resistance line. indicating a double top. and you can see, the bearish trend has started. But there is still a lot of room for profit. The above three TP's are just the start....
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
As you can see from our resistance zone ( red box ) price has used this numerous times as support and resistance, this time some bad news pushed price down into this area again but priced bounced in a bullish manor.
We have some USD news coming out in just over 1 hour and the outlook for this news is better than expected for USD so if this comes in as expected we...
You can see where price has entered our support and resistance zone before and bounced back out of it.
This time we are expecting another bounce as price is at this level again, we are expecting price to use this zone or area as support therefore making bullish movement from this level.
We have quiet a few news releases tomorrow that will directly target this...
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...
We are expecting a bearish short term run on this pairing, as you can see marked out by our arrows that price has touched this trend line more than a 40 year old virgin touches his.... Xbox controller ;p ( I was going to say something else but I don't fancy getting banned just yet ) haha.
Price is currently sitting at this trend line and the current candle has...
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.
Back into the market after a long weekend in both U.K. and U.S. and we are looking at the continued downtrend of Euro versus US dollar.
A series of lower highs continues to form with support around 1.11 area providing a short opportunity of 90 pips. We also have the formation of an Evening star candle or tweezer top if looking on longer time...
As seen I've identified Supply and Demand Zones for EURUSD
This week I'm expecting price to find resistance at one of the two
supply zones identified on the H4 before bullish price movement.
If these zones are not reached as price could reverse and fall early I will wait till it has fell back into my
Its key when using institutional Supply and...