EUR/USD FULL ANALYSIS Breakdown (SHORT This Week?)
Disclaimer:
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Update:
Usually I do a weekly analysis but never really include it in these posts since it seems like its a little long for someone to read through. But, this week I am going to include my Weekly, Daily, and Hourly analysis for this pair and just let me know if you think it is too long of a post or if you like the extra information. Let us get right into the analysis and like always, feel free to message me or comment on these post any question you may have.
Weekly Analysis:
As you can see just looking at the weekly there is a zone where price is having a hard time breaking through and that is around the 1.14000 price range. The reason I really like this zone is cause price had bounced off of this zone 5-6 times in the past and price seems like it already had rejected this zone a little bit. This previous week had made a really big Doji candle, so for any of us to take a trade on this pair we would need more confirmation on lower time frames, from the weekly you could wait for another weekly candle but for a better entry going to a lower time frame would allow us to get a really good entry with a big risk to reward. If I can get a confirmation on a lower time frame then I will look to target the lows of 1.08050 since price has been there in the past, also you have to understand that this can take many weeks for this trade to play out so, if you are looking for a quick easy trade this may not fit your trading style.
Daily Analysis:
Today I decided to include two charts with this analysis, the first one is something that I noticed with this pair which it like to make a move to the downside but then come back all the way to that high retest and then drop. The second one is without the green lines but shows my original analysis you are used to seeing price has made its way back up to this resistance line and showed some weakness to the top side with the ending few candles last week. If we can get further confirmation and momentum to the downside then this could be a longer term trade to the downside but if we can get an entry on the lower time frames, this could be a good risk to reward trade. Although we have already seen big wicks to the topside and already some momentum to the downside, I would want to see more confirmation on the One hour time frame making a close below the recent lows or if you want to be more safe wait for a close on the 4 hour. Since there is a lot of very volatile moves going on recently we are going to place a very big stop loss hoping that we do not get stopped out on a big pullback.
Hourly Analysis:
There is not too much to look at with the current hourly candles, they have been just moving sideways the previous week so we are going to need a big bear candle closing well below the recent lows to get into this trade. If anything, make sure to risk a very little amount of your capital on this trade, their is a lot of pips to get over the next few weeks so do not rush anything and end up taking a stupid trade. Keep your risk managed and look at the long term when taking this trade. Like I already mentioned, if you are not able to stay in a trade long term then maybe this trade is not for you.
Thanks again,
KeySlot
Any of the content presented on my page showing my analysis of the market is just that, an analysis which means this is my personal opinion of where the price is going to go. Do not by any means take this simple analysis for a reason to enter a trade, I am not presenting these analyses as a form of signals, simply a way to get feedback and opinions from others on how my trades look. Take this trade at your own risk, but know forex is a risky market that you can make a lot of money but can lose that money or even more just as fast, enter these markets with your own risk and good luck with your trading :).
Update:
Usually I do a weekly analysis but never really include it in these posts since it seems like its a little long for someone to read through. But, this week I am going to include my Weekly, Daily, and Hourly analysis for this pair and just let me know if you think it is too long of a post or if you like the extra information. Let us get right into the analysis and like always, feel free to message me or comment on these post any question you may have.
Weekly Analysis:
As you can see just looking at the weekly there is a zone where price is having a hard time breaking through and that is around the 1.14000 price range. The reason I really like this zone is cause price had bounced off of this zone 5-6 times in the past and price seems like it already had rejected this zone a little bit. This previous week had made a really big Doji candle, so for any of us to take a trade on this pair we would need more confirmation on lower time frames, from the weekly you could wait for another weekly candle but for a better entry going to a lower time frame would allow us to get a really good entry with a big risk to reward. If I can get a confirmation on a lower time frame then I will look to target the lows of 1.08050 since price has been there in the past, also you have to understand that this can take many weeks for this trade to play out so, if you are looking for a quick easy trade this may not fit your trading style.
Daily Analysis:
Today I decided to include two charts with this analysis, the first one is something that I noticed with this pair which it like to make a move to the downside but then come back all the way to that high retest and then drop. The second one is without the green lines but shows my original analysis you are used to seeing price has made its way back up to this resistance line and showed some weakness to the top side with the ending few candles last week. If we can get further confirmation and momentum to the downside then this could be a longer term trade to the downside but if we can get an entry on the lower time frames, this could be a good risk to reward trade. Although we have already seen big wicks to the topside and already some momentum to the downside, I would want to see more confirmation on the One hour time frame making a close below the recent lows or if you want to be more safe wait for a close on the 4 hour. Since there is a lot of very volatile moves going on recently we are going to place a very big stop loss hoping that we do not get stopped out on a big pullback.
Hourly Analysis:
There is not too much to look at with the current hourly candles, they have been just moving sideways the previous week so we are going to need a big bear candle closing well below the recent lows to get into this trade. If anything, make sure to risk a very little amount of your capital on this trade, their is a lot of pips to get over the next few weeks so do not rush anything and end up taking a stupid trade. Keep your risk managed and look at the long term when taking this trade. Like I already mentioned, if you are not able to stay in a trade long term then maybe this trade is not for you.
Thanks again,
KeySlot
