ICmarkets

EUR/USD: Technical outlook and review...

FX:EURUSD   Euro Fx/U.S. Dollar
512 9 4
Weekly Timeframe: The weekly timeframe shows that price has broken below a major weekly Quasimodo support level at 1.1109, and, as a consequence hit weekly demand coming in at 1.0760-1.0988.

Daily Timeframe: Yesterday saw the Euro             take out daily demand at 1.1045-1.1127. This consequently drove the market south into a daily swap area seen below at 1.1016-1.0952 (located just within the weekly demand area mentioned above at 1.0760-1.0988).

4hr Timeframe: The latest coming in from the 4hr timeframe reveals that price closed below the mid-level number 1.1050, which, subsequently, saw price viciously spike north up to a 4hr decision-point supply area seen at 1.1114-1.1143 (this move was likely a result of negative unemployment numbers coming out of the US). Following this, price continued south down to the 1.1000 psychological threshold, where, at the time of writing, supportive pressure is currently being seen.

With all of the above taken into account, we feel that the Euro             is trading in oversold territory at the moment and could be ready for a bounce higher. Nevertheless, before this happens, we feel there’s a good chance that price will challenge the 1.1000 level once more, although this time we expect a push deeper to be seen, thus taking out more stops i.e. sell stops (liquidity) for pro money to buy into.

With that said, our team’s main focus in this market today will be to watch how price behaves if a retest of 1.1000 is seen. However, please do keep in mind that we have the mighty NFP release later on, which, as you probably know, could distort any technical signal seen, so do trade cautiously.

Current buy/sell orders:

• Buy orders: 1.1000 (Predicative stop-loss orders seen at: dependent on where one confirms this level).

• Sell orders: Flat (Predicative stop-loss orders seen at: N/A).



iam short may be lost my stop is comming ... may be may be
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Hi Troikafx,

Where are you short from?

IC markets
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Troikafx ICmarkets
Hi IC 1.10141 still Alive
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Troikafx Troikafx
Go to 1.10000
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Troikafx Troikafx
or 1,09869 is ok too may be
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Hope you're still in that short Troikafx
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Troikafx ICmarkets
Yeah take profit close 1.09660 So Good
Reply
Well done, nice trading!
Reply
Troikafx ICmarkets
So good Analisis Mr
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