radoslaw.mazgaj
Short

London Session Watch - EURUSD

FX:EURUSD   Euro/U.S. Dollar
198 0 0
The false break of the inside bar candlestick pattern on EUR/USD             has caused the price to slide significantly lower. This false break candlestick also formed at the 1.2732 resistance level which we covered on Monday. The false break inside bar candlestick pattern also formed at the 200 period moving average as well as the upper band of the Bollinger Band , which adds weight to this drop. The false break of the inside bar candlestick pattern itself is another bearish engulfing bar candlestick pattern which once again adds fuel to the bears. Since the price failed to cross above the 200 period golden moving average coupled with Tenken-sen crossing below the Kijun-sen, we could see this false break of inside bar candlestick pattern leading the price lower in today’s London session. The Parabolic SAR indicator and the MACD indicator are supporting this downside movement and the volume and the volatility (as we can see throught the Average True Range (ATR) indicator) are increasing which is a good sign to the downside. On the flip side, the Stochastic indicator, Commodity Channel Index ( CCI ) and Relative Strength Index ( RSI ) are showing the price is currently in oversold territory which could potentially cause the price to take a breather before proceeding lower. The current resistance level for this market is at 1.2732 and support level at 1.2500. With all that being said, we could still have some selling opportunities in today’s London session and the 1.2500 support level could serve as a target for sellers to take profits.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out