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Previous month closed positive. Price has now returned to the key support level of 1.15000 and although the week closed negative last week price was still unable to close convincingly below this key level. The close of the day candle bullish is possibly an early sign of reversal. Looking for price to hold this level before getting long with a target of ...
Previous month candle closed positive, price has fallen below the previous key support level of 1.15000 hitting a new Week Support level of 1.13100. The week closed positive above this level showing bullish momentum. Price is now expected to return to the 1.15000 level to retest it.
Month Support at the 1.15000 level broken. Week candle also closed convincingly below this level heading lower towards the next Week support level of 1.13100. Looking for 4 hour candle close above this level before entering long for a reversal back up to the 1.14000 level.
Month Support held at the 81.500 level, strong bullish close of the previous Week's candle momentum heading higher towards the key Week resistance level of 84.300. Further Day resistance is just above this level at 84.500. Looking for a fail of the 84.500 area before entering a short position
Sell limit 84.500
Month Support at the 1.15000 level has currently held although the close of last months candle still shows overall bearish momentum. The Weekly candle which also closed below the key week support level of 1.17150 also confirms bearish activity and will now act as potential resistance. Looking for a fail of the 1.17150 area before entering short.
Key Monthly Support area of 1.15500 being respected. Momentum currently heading back up towards Week Resistance level of
1.17150. A wider range of 1.15500 to
1.16300 has also been established.
Price has been rejected off of the Monthly Support area of 1.15550 heading up to the Weekly Resistance level of 1.17150. Waiting for Fail of level before getting short. Note Price is in a wider Range of 1.15550 to 1.18350
Key Day support level of 24250 held, price currently heading towards a key Day resistance level of 25450. Looking for price to climb to level and fail before looking for short opportunity.
Price closed below week support level of 1.17150 after a strong rejection off key day resistance at the 1.18350 area. Momentum expected to retest Month Support at the 1.15500 level before looking for long opportunity.
Month Support Held at the 1.15500 area. Week Resistance area of 1.17150 has been successfully breached, price heading towards the next key level which is day resistance at the 1.18300 level. Looking for a fail of the 1.18300 area before getting SHORT for the retrace back down to the 1.17600 level. 1.36RR Trade
Short Term Reversal off of the Weekly Resistance level at 1.17150 level. Day Candle has currently turned negative. 1 Hour Engulfing Candle. If price returns to 1.16900 following NFP will look for short opportunity 1.18RR
Take Profit 1.16425
Downtrend has hit key Month Support at the 1.15550 level. Looking for a close above the level before looking for long opportunity back up to the weekly resistance level of 1.17150.
Possible Long. Monthly rejection off the lows, Week Down heading lower towards both Week and Day Support at the 24640 level.
At Week Support, possible daily close positive, 4Hr starting to show signs of holding key level. Will enter long position if price reaches 1.33500 level with
1.6 Risk Reward Trade
Could still continue lower towards the 1.30400 area
EURUSD likely to head lower after a convincing close through weekly support at the 1.17100 level.
Momentum is therefore likely to continue lower to Monthly Support at 1.15550.
1:1 Risk reward short trade with stop being placed above the previous days high of 1.17380 and a take profit level of 1.15650