EURUSD: Standing on strong structure level Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Oct 18, 2019 7:20 AM

hey traders,

this week is very very bullish for EURUSD.
If you analyze price action on a daily tf
you may notice than we haven't seen a pullback for quite a while.

Yesterdays, pair has reached key level of resistance 1.113 and, for now, buyers do not push the market higher.

I believe that there is a high chance to see a pullback from this level.
I will be looking for a confirmation on lower timeframes to short the pair.

Target levels will be: 1.108/1.105

Good luck!

Comments

fhendrick888

⋅ Oct 18, 2019 12:55 PM

It seem the bullish break 1.114 .. should we retest it on 1.116 or 1.118?

charliefornia

⋅ Oct 19, 2019 12:46 PM

with highs like these from the news,i doubt the institutions will be able to resist selling lol

charliefornia

⋅ Oct 19, 2019 2:00 PM

@charliefornia, especially now that they announced brexit deal is delayed

UnknownUnicorn5176330

⋅ Oct 19, 2019 6:43 AM

19/10/2019 EurUsd Rate - Spot Price 1.1165 From my book and recommendation is that the Current High is capable of 1.1219 & 1.1224 before Consolidation Phase will take place within the Index and current rate. There is some consolidate after 1.1224 highs - With A Target Returning Low towards 1.1050 and tag just below this level.

RiverThink

⋅ Oct 18, 2019 2:14 PM

Check out my analysis

DocWonmug

⋅ Oct 18, 2019 11:23 AM

I am looking for the same pullback and see if honors the bottom of the channel you have marked. If so, it is possible the uptrend will continue.

VasilyTrader

⋅ Oct 18, 2019 11:47 AM

@DocWonmug, bullish pressure is very very strong
I am looking for a reversal confirmation the entire week but bulls still pushing through

VasilyTrader

⋅ Oct 18, 2019 7:21 AM

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