Euro trading in downtrend for FOREXCOM:EURUSD by AtlasTrades

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In my opinion as soon as price will reach support level (1.17500), we can open long position. I think price can change trend and start growing. Resistance (1.19000) can be our target.

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Comments

Is there a possibility of forming a head and shoulder pattern? It looks set to head south...

blissfulHeron64214

@blissfulHeron64214, thanks for comment

blissfulHeron64214

@blissfulHeron64214, i don't think so

I guess still we are in correction wave, it is H1 chart we are at the bottom of channel and it is oversold, but if you look at H4 and Daily clearly it is bearish and overbought.
DXY also has the capacity to grow around 94.06, more pressure of EUR.
But absoloutely longterm is way above 200MA and bullish we are just talking about correction now ...

Masih-Iran-Spain

@pleasantEggs34155, thanks for sharing, mate

Masih-Iran-Spain

@pleasantEggs34155, lets wait for result

Good idea, here is what I have on the subject

EURO (eurusd) SHOWS STRONG REVERSAL pattern

Solid view, buddy!
What do you think about my analysis?

EURUSD: Candlesticks & Scenario For Next Week

VasilyPonomarev

@VasilyPonomarev, very accurate, we are on the same line

I like the analysis but I think it does a head and shoulders or something along those lines and declines down to 1.62500, This will make it a healthy uptrend and only then will I buy