Here is my new analyse for eurusd
So far, the price is at a high level of reversal, but nothing says that we will see a reversal. My stochastics do not tell me that there is a big reversal here and now. But with time, it can change. The price can go a little lower. I explain.
There is a chance to see the price making a try to climb higher from here, but there is considerable strong and immediate resistance even before hitting the ichimoku cloud on this chart.
I see different stages, three steps where a fail will make the price fall back. I think the highest step will end inside of the cloud "only if the price goes that high". I do not see the price go higher than the cloud at this moment.
In my opinion, the current situation indicates that the price may simply go down a bit more before seeing a reversal somewhere on the red support line on the chart.
Conclusion: the eurusd is still bearish but it can change slowly. If it goes up now, then look at the three steps as TP's. But the chance to see the price go up is probably on the red support line. I think the reversal could push the euro into the cloud on H4 but not above it. Although it can go above but then the market will need to make a correction. But eurusd is still bearish and we need to see a real strong reversal to have a bullish future. In fact, I have to give other information, the view on my stochastics on the Weekly chart showed a potential bullish sign last weeks suggesting there could be a push up, but it took too long to see the price fall down this week and see a reversal happen. This made the stochastics on the weekly chart changing to bearish. I do not want to say more about it. Do not pay attention because it moves and can become bullish again if we see the reversal occur next week.
So far, the price is at a high level of reversal, but nothing says that we will see a reversal. My stochastics do not tell me that there is a big reversal here and now. But with time, it can change. The price can go a little lower. I explain.
There is a chance to see the price making a try to climb higher from here, but there is considerable strong and immediate resistance even before hitting the ichimoku cloud on this chart.
I see different stages, three steps where a fail will make the price fall back. I think the highest step will end inside of the cloud "only if the price goes that high". I do not see the price go higher than the cloud at this moment.
In my opinion, the current situation indicates that the price may simply go down a bit more before seeing a reversal somewhere on the red support line on the chart.
Conclusion: the eurusd is still bearish but it can change slowly. If it goes up now, then look at the three steps as TP's. But the chance to see the price go up is probably on the red support line. I think the reversal could push the euro into the cloud on H4 but not above it. Although it can go above but then the market will need to make a correction. But eurusd is still bearish and we need to see a real strong reversal to have a bullish future. In fact, I have to give other information, the view on my stochastics on the Weekly chart showed a potential bullish sign last weeks suggesting there could be a push up, but it took too long to see the price fall down this week and see a reversal happen. This made the stochastics on the weekly chart changing to bearish. I do not want to say more about it. Do not pay attention because it moves and can become bullish again if we see the reversal occur next week.
Comment:
Update. I have made it to TP2 and now I will look what will happen next week. It can just reverse down here so I stay out until the next direction will be clear. I will not trade inside of this cloud. The last move on 1H ;-) Happy weekend
Trade closed: target reached
Comment:
Oops: I was already thinking about what I will do during the weeken. Correction: the last move on H4 (screenshot)
Comment:
Here is the trade plan (always using trailing steps) GL !
Comment:
tradeplan on hold (waiting)
Trade active:
from 1.1058
Comment:
TP 1 : 1.1040
TP 2 : 1.1027
TP 3 : 1.0985
TP 2 : 1.1027
TP 3 : 1.0985
Comment:
SL moved to 1.1027 (TP2)
Trade closed: target reached:
TP1 and TP2
