ALLRIGHT GUYS, SINCE PRICE ACTION IS NOT SHOWING ANY SIGNS OF WEAKNESS YET ON DAILY PRICE CHART, I THINK WE ARE GOING QUITE A BIT HIGHER AND MAX OUT NEAR 1200.
THIS WOULD BE THE SWEET SPOT FOR SWING TRADERS TO START BUILDING UP EXPOSURE ON SELL SIDE WITH TARGET SET AT 1000.
ALSO, HERE'S WHAT I'VE POSTED @ FF (FACTORY FORUM) THIS SUNDAY. SO FAR SO GOOD. )))
EUR USD EOW update and target for next week.
Daily/Weekly bullish close.
On daily chart we got the following:
Price/RSI div - same as the last time - 1150 - 1400 - last time produced a 250 points move
projecting same move to current low 0900 + 250 = 1150 - valid target for bulls next few weeks
Bear TL broken on daily (see red lines)
Overall, bullish outlook
Elsewhere - retail is 90% NET short EURUSD - more gains likely
November/December - strong seasonal period for EURUSD based on past 10 years of history
However, primary direction is still DOWN, but next 4-8 weeks I expect gains.
Conservative target for bulls is 1150, aggressive target is 1200.
Immediate target for next week is 1100. Recommended strategy is buying early next week with a tight stop loss (10-20),
near market open, unless there's a gap down (which is not likely at this stage).
Comments, questions, let me know. Have a nice weekend, traders!
If you like the analysis, feel free to upvote it!
PS: below is the daily price chart of EURUSD with my TA
THIS WOULD BE THE SWEET SPOT FOR SWING TRADERS TO START BUILDING UP EXPOSURE ON SELL SIDE WITH TARGET SET AT 1000.
ALSO, HERE'S WHAT I'VE POSTED @ FF (FACTORY FORUM) THIS SUNDAY. SO FAR SO GOOD. )))
EUR USD EOW update and target for next week.
Daily/Weekly bullish close.
On daily chart we got the following:
Price/RSI div - same as the last time - 1150 - 1400 - last time produced a 250 points move
projecting same move to current low 0900 + 250 = 1150 - valid target for bulls next few weeks
Bear TL broken on daily (see red lines)
Overall, bullish outlook
Elsewhere - retail is 90% NET short EURUSD - more gains likely
November/December - strong seasonal period for EURUSD based on past 10 years of history
However, primary direction is still DOWN, but next 4-8 weeks I expect gains.
Conservative target for bulls is 1150, aggressive target is 1200.
Immediate target for next week is 1100. Recommended strategy is buying early next week with a tight stop loss (10-20),
near market open, unless there's a gap down (which is not likely at this stage).
Comments, questions, let me know. Have a nice weekend, traders!
If you like the analysis, feel free to upvote it!
PS: below is the daily price chart of EURUSD with my TA
Comment:
here's the daily EURUSD cloud. and my comment.
