ICmarkets

EUR/USD: We're watching for price to break above 1.29580

FX:EURUSD   Euro/U.S. Dollar
151 0 1
Weekly TF: The EUR/USD             sold off sharply last week breaking below the weekly demand area at 1.31037-1.32262. This move potentially cleared the way down to a prominent weekly ‘buy zone’ seen at 1.26591-1.28010.

Daily TF: A reaction has been seen around the top of a daily demand area at 1.27541-1.28676, not surprising really considering this area is sitting just above a weekly ‘buy zone’ mentioned above at 1.26591-1.28010. The subsequent rebound rally produced a potential bullish closing price, but the only way find out if this buying is legit and not just traders covering their shorts with be a follow through to the upside. A key area in particular is the daily decision-point area (supply) above at 1.31589-1.31091.

4hr TF: Our P.A confirmation buy level set at 1.29056 was recently triggered (just above the 4hr S/D flip area at 1.28970-1.28590 and round number 1.29), a subsequent rally followed up to an important 4hr decision-point level at 1.29580, which in our opinion NEEDS to be consumed (essentially meaning price breaking above this level) before any pending buy orders are set.

Pending orders/P.A confirmation levels:

• Areas to watch for buy orders: P.O: No pending buy orders are seen in the current market environment. P.A.C: 1.29056 (Active-awaiting confirmation) (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).

• Areas to watch for sell orders: P.O: No pending sell orders are seen in the current market environment. P.A.C: 1.29950 (SL: Dependent on price action after the level has been confirmed TP: Dependent on approaching price action after the level has been confirmed).
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