EURUSD Full Technical Analysis with Long and Mid Therm Targets
Charts Explained
The Major Pair EURUSD is currently at a Major Support Level which was formed on 24. July 2017 and got tested in Oktober/November 2017 and latest on end of may.
Due to the ECB News yesterday we had a bearish trading day and tested the Major support level once again.
If we are looking at our charts we can see a descending Triangle formed on the daily chart.
The fact that we are on the Major support we are looking for a buy here. The Target on the daily charting for a long-term trade is expected around a price of 1.25600. Until we get to this price we will probably have two major swings.
I have also added a Fibonacci retracement. I am looking to see the first Target at a price on the 0.5 retracement level which is 1.19640.
This Level is also the level for our Head and shoulder which we are forming (drawn on the 3rd chart)
This means if we have our breakout we are probably going to form our head and shoulder. From this point, we will probably turn into a bearish market again. When we are forming our Head and Shoulder we are facing at the same time the resistance level which is around our mid-term target.
Technical Overview
-Major Support Level 1.15294
-Descending Triangle Pattern
-Fibonacci retracement to 0.5 level
-Right shoulder confirmation on the Fibonacci 0.5 level
-Left shoulder resistance confirms Fibonacci retracement level and shoulder swing.
-Expected Market in the next weeks (Bullish / Bearish / Bullish )
-Target 1 (1.19640) left shoulder and Fibo level
-Target 2 (1.25600) Descending Triangle calculation
How am I going to Trade this informations step by step?
First Trade
- Open a long position on 15.06.2018 at 7:30 am
- Setting a Stop Loss at 1.14700
- Taking Profit at 1.19640
Second Trade
- Open a short position on 1.19640
- Setting a Stop Loss at 1.20756
- Taking Profit at 1.16500
Third Trade
- Open a long position on 1.16600
-Setting a Stop Loss at 1.15500
-Taking Profit at 1.25600
Charts in full size
Daily
Hourly
4Hours
The Major Pair EURUSD is currently at a Major Support Level which was formed on 24. July 2017 and got tested in Oktober/November 2017 and latest on end of may.
Due to the ECB News yesterday we had a bearish trading day and tested the Major support level once again.
If we are looking at our charts we can see a descending Triangle formed on the daily chart.
The fact that we are on the Major support we are looking for a buy here. The Target on the daily charting for a long-term trade is expected around a price of 1.25600. Until we get to this price we will probably have two major swings.
I have also added a Fibonacci retracement. I am looking to see the first Target at a price on the 0.5 retracement level which is 1.19640.
This Level is also the level for our Head and shoulder which we are forming (drawn on the 3rd chart)
This means if we have our breakout we are probably going to form our head and shoulder. From this point, we will probably turn into a bearish market again. When we are forming our Head and Shoulder we are facing at the same time the resistance level which is around our mid-term target.
Technical Overview
-Major Support Level 1.15294
-Descending Triangle Pattern
-Fibonacci retracement to 0.5 level
-Right shoulder confirmation on the Fibonacci 0.5 level
-Left shoulder resistance confirms Fibonacci retracement level and shoulder swing.
-Expected Market in the next weeks (Bullish / Bearish / Bullish )
-Target 1 (1.19640) left shoulder and Fibo level
-Target 2 (1.25600) Descending Triangle calculation
How am I going to Trade this informations step by step?
First Trade
- Open a long position on 15.06.2018 at 7:30 am
- Setting a Stop Loss at 1.14700
- Taking Profit at 1.19640
Second Trade
- Open a short position on 1.19640
- Setting a Stop Loss at 1.20756
- Taking Profit at 1.16500
Third Trade
- Open a long position on 1.16600
-Setting a Stop Loss at 1.15500
-Taking Profit at 1.25600
Charts in full size
Daily
Hourly
4Hours