Having made a successful break and close above the daily consolidation phase, Euro bulls are slowly but surely flocking in the market. 1.17971 was hit to the T marking its significance as a key level of resistance to keep an eye on. In order for the long bias to be valid, a break and close above this resistance zone is of utmost importance. Latent buying pressure...
A lot of indecision with this pair. Price attempted to severally break to the upside but was faced with a lot of selling pressure. Currently trading this pair at the moment will result in a lot of uncertainties in terms of profit and Stop loss placement. However,1.15303 looks like a good magnetic zone for price to get attracted to having seen a lot of imbalance in...
For the past 4 or so days the Euro bulls have actively been taking the pair higher. However sellers are still not ready to give up the power just yet with significant resistance at 130.865 holding time and time again. In the past, price retraced almost immediately after hitting the daily resistance level. In an attempt to break it, the pair has now formed a Daily...
With the recent surge upwards of the Euro over the past 10days, Price is now approaching a key resistance zone;1.17743 area. Here 2 things might occur; 1. Price could reject the resistance and make a pullback to take a 'breather' from the bullish momentum and retest the broken trendline forming a HL and continuation of the uptrend. 2. Bullish momentum may persist...
Irrespective of leaning towards a bearish bias, it is important to let this fundamental week first play out as we may gain the momentum necessary for moving the pair further down or recovering its current losses. Currently on the sidelines to see how the market reacts to the released news especially Non Farm Payrolls this Friday
A follow up on the July 29th analysis posted
AREAS OF INTEREST: *128.657-As long as price holds above this zone, we are still bullish *130.398-Additional confluence that price will continue moving up. Suitable entry trigger *128.400-Below this area, Bullish bias will be invalid *132.990-Potential TP
Owing to what price did in the past, we saw an lengthy consolidation phase of up to 14 weeks followed by a surge down of over 500pips. Is EURUSD setting up for what it did in the past? Only time will tell
price is currently at a heavy consolidation phase on the daily timeframe with price constantly testing and rejecting the 1.58819 resistance zone. It is important to note that price is sitting comfortably above a demand zone and the pivot point which signals to me that bulls are still in control of this market. I would however like to see price breakout of the...
Currently waiting for price action to unfold as I desire. Failure of which, I will forgo this pair
sitting on my hands until a break and retest of 1.71500 materializes. Failure to do so, no positions will be taken
Simplicity is the highest form of sophistication.
bearish below 110.245. For now, out on the sidelines until price unfolds the way I want it to
Currently waiting for Price action to play in my favor.
Orders are currently being accumulated for a further push. Bullish above 0.74565 with upward targets to approximately 0.75876
Broken support at 1.28091 that is being retested. If it holds as new resistance then price will continue with its downward descent. Exercise proper risk management and trade what price action reveals to you.
The pair is still in a valid uptrend owing to the fact that price is contained above the ascending trendline and a series of Higher Lows are continually being formed. It is important to note that price is also moving within a countertrendline hence is in a triangle like containment zone. Here two instances might occur: A) A break above the CTL and recent swing...