After a strong downtrend on the pair , we saw a trend line breakout followed by retest. We then see price making higher highs up to a strong support/resistance zone , making a pullback to the 61.8% Fibonacci on the current rally, combined with a doji candle rejection on a short term trend line recently formed.
Following positive news on consumer and industrial confidence , service sentiment and business climate gives us positive outlook on eurozone.
Technical analysis confirmations
1-Daily and 1H MA match
2-Price rejecting Daily MA21
3-RSI 6 divergence
4-Price formed strong pin bar at significant previous low on 4H chart.
5-Good risk-reward 2:1
Following positive consumer and industrial confidence reports , business climate and industrial sentiment gives us a strong fundamental positive outlook on EUR. On the technical line we have multiple confirmations
1-Daily and 1H MA match
2-RSI 6 below 20
3-Price rejecting 3rd touch trend line plus previous high test in/between MA`s
4-Price rejecting 0.5 Fib...
Overall the pair is trending up with Daily MA8 above Daily MA21 which gives us trend confirmation. We also have MA200 on 15m chart rejection , combined with short term trend line. Enter with 1:1 RR , but keep in mind for potential new highs.
Well formed channel on 4H chart.
3 consecutive bullish weeks for usd/chf
Daily MA shows upside momentum
Pin bar formed around channel low on daily chart , followed by bullish engulfing bar.
We still dont know if the price will rally for new highs , the confirmation we looking for is 4H chart MA cross and start scalping on 15m chart in the way of the trend. If...
Hello traders. Eur/usd overview for the week ahead.Currently price react of 61.8% Fibb level. We have well formed channel and head and shoulder pattern. From now on we looking at either respecting the second shoulder and 61.8% level , price breaking the channel and looking for Buy scalps on 15m chart along the way. The second scenario is if price does not respect...
usdcad long scalp
Strong support resistance level test
Pullback in-between MA50-MA200
Pinbar + closing above high gives us momentum advance
1:1 short scalp reward
When price hit half of the target , stop loss to be reduced half as well.
eurjpy short trade
Daily momentum down
1H momentum down
Previous support break test (resistance now)
Pin bar rejection
Daily pivot point rejection
Closing below low gives us momentum advance
0.382 Fib Retracement