IvanLabrie
Short

EURUSD: Update and Key Hidden Levels

FX:EURUSD   Euro Fx/U.S. Dollar
In this chart I describe the current estimated trayectory for the Euro             .
I expect a brieft retracement, if we were to move above the last daily high, crossing the recent FOMC minutes release Key Level, and go to test the low volume resistance levels above, and eventually test the top FOMC key levels if said resistances fail to hold.

It's possible to go long above the last daily high using a tight stop, and closing and flipping short when we approach the overhead resistance.
I outlined two potential paths EURUSD             might follow, and in both cases, I'm expecting monthly and quarterly downtrend continuation as we break all FOMC support levels on the way down.

Check related ideas for my previous charts covering this pair, and also check the EURCHF             posted by my friend Tom Killick, might be a nice pair to add to your portfolio to profit from this expected Euro             meltdown that I forecast here.

Cheers,

Ivan Labrie.
Comment: Closing the gap, day turns up and we might get our rally to sell against.
Comment: It's on...

snapshot
Comment: Testing FOMC support, we might see a bounce here, sell any rally!
Comment:
snapshot


Daily, weekly and monthly levels in one chart.
We might bounce higher here, selling rallies is ok, but you could also go long above a high before selling.
Trade active: Currently long, the January 26-27 FOMC meeting key level held the decline.
Comment: If we break the current resistance we might trigger a larger rally.
I'll update it as we move forward, first target is 1.11281, target #2: 1.17136 (not confirmed yet)
Do you still keep your long? Or it can bounce back to 08 area?
Reply
Yes, went long at 1.09137, stop 1.0864.
Holding. I only closed half today.
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OLIGARCH IvanLabrie
But what are your thoughts further? Now everyone waits ECB?
Reply
snapshot


Next week we might have more confirmation.
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OLIGARCH IvanLabrie
All I need is it to reach 1100, so I can get out with no loss from my Longs, but still 1306 is playing the role for me.
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1306 waiting to get hit. brrrrrrr
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Logical - Thanks for sharing
+2 Reply
You're welcome, good luck!
+1 Reply
BUYING ON 50% REVERSAL OF ABC MOVE IS GOOD IDEA
very nice setup Ivan it does not look like that EURUSD gonna make new lows as i can see very strong DIVERGENCE on MACD on WEEKLY chart
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GoodLuckbabe GoodLuckbabe
snapshot
her we got the MACD divergence
+1 Reply
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