TraderAvDM

EURUSD finally drops to the first Support 1.0770, more weakness?

FX:EURUSD   Euro / U.S. Dollar
Hello friends, if you have been following my ideas on EURUSD , you will already recognize this chart. Well, as I was expecting, EURUSD finally dropped to the Support Level around 1.0770 and also managed to bounce up from the support level jumping more than 80 pips.


However, it was a short-lived bounce, and price is now back to the support Area .

At this point, I advise traders not to jump into Buy trades because there's a very good chance that EURUSD can drop to 1.0640 next week.

Comment: And there goes the weak support as expected
Trade active: Anticipating this move Sell active at 1.0797
Comment: Another sell limited @1.0815 also triggered as my followers here many already know

Comments

I want to share my idea
+4 Reply
TraderAvDM Yuriy_Bishko
@Yuriy_Bishko, This is good. I think the same. Thank you for sharing this
+1 Reply
Tnx for that,,,, i had sl 1.0650 but now i thik i well close it
+4 Reply
TraderAvDM BOJAN_S1
@BOJAN_S1, At 1.0650 we can start looking for buys
+1 Reply
eminmikheev BOJAN_S1
@BOJAN_S1, interesting
Reply
The current rise to 1.0802 is at 0.618 FIB as per 4h candle. So should we expect the drop from here as per your new update?
+3 Reply
TraderAvDM shoaibshuja5
@shoaibshuja5, Personally I don't use Fibo. My new update was based on the assumption of a reaction at the 100Hour EMA. But, if it lines up with your Fibo analysis, then it is even better I guess. As far as I know most people who use Fibo say that 0.5 and 0.618 levels are most reliable. So, what do you think?
Reply
shoaibshuja5 TraderAvDM
@TraderAvDM, I am newbie in forex and just started to analyze the charts. I am following you actually. Saw many other charts but found you ahead. 0.618 is also called golden ratio as you know and YOUR 100 EMA is acting as resistance (YOUR mean Your :) ) I am expecting a downward movement from here as you predicted perfectly.
+1 Reply
TraderAvDM shoaibshuja5
@shoaibshuja5, Thanks mate. I already sold it. So, let's see if we get that drop. Although I am not expecting much today.
Reply
shoaibshuja5 TraderAvDM
@TraderAvDM, I also sold it and as you said, market is going to slow down in next 2-3 hours and then towards closing after few hours so as expected, movement may be least.
I really appreciate your good work. Keep us updated. Thank you
+2 Reply
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