EURUSD - Lookout for Sharks at 1.1670
It has been awhile since I last posted in the English version of TV.
Has been busy populating the chinese version as I am now currently based in China.
However, due to numerous requests from my followers, I have decided to start posting in here more often now.
Today's analysis is on EURUSD, where I see a potential shark pattern to buy down below at 1.1670.
Bullish Shark at 1.1670
EP 1.1670
SL 1.1630 (40)
TP1 1.1735 (75)
TP2 1.18 (130)
The EP is only a zone to consider, if there is no reaction at this zone, there will be no trades.
Even if EURUSD were to retrace to 1.1775 first before dropping, I will not be surprised.
If you look at the DXY dollar index chart, if DXY falls to 91 after the failed breakout last month above 96, it is just a retracement to lower support levels.
My analysis is if DXY continues to come down to support, we can see EURUSD breaking monthly highs in the coming weeks.
But as with most analysis, do your own due dilligence and control your risk well.
Wish you guys a great trading week ahead!
Has been busy populating the chinese version as I am now currently based in China.
However, due to numerous requests from my followers, I have decided to start posting in here more often now.
Today's analysis is on EURUSD, where I see a potential shark pattern to buy down below at 1.1670.
Bullish Shark at 1.1670
EP 1.1670
SL 1.1630 (40)
TP1 1.1735 (75)
TP2 1.18 (130)
The EP is only a zone to consider, if there is no reaction at this zone, there will be no trades.
Even if EURUSD were to retrace to 1.1775 first before dropping, I will not be surprised.
If you look at the DXY dollar index chart, if DXY falls to 91 after the failed breakout last month above 96, it is just a retracement to lower support levels.
My analysis is if DXY continues to come down to support, we can see EURUSD breaking monthly highs in the coming weeks.
But as with most analysis, do your own due dilligence and control your risk well.
Wish you guys a great trading week ahead!
Comment:
Perfect fall last night during FOMC.
If price reacts at 1.1670, we could go long.
No reaction no trade.
Perfect fall last night during FOMC.
If price reacts at 1.1670, we could go long.
No reaction no trade.
Comment:
When the PRZ fails to stop the fall, it only means the trend is too strong and the market chose to respect bigger patterns/SAR levels.
Remember that PRZ is only a consideration point, it is not a direct entry point.
The next logical support will be at 1.1530, will not be surprised to see it hit this level in the next few days.
When the PRZ fails to stop the fall, it only means the trend is too strong and the market chose to respect bigger patterns/SAR levels.
Remember that PRZ is only a consideration point, it is not a direct entry point.
The next logical support will be at 1.1530, will not be surprised to see it hit this level in the next few days.
One more fake breakout last night.
Will still be looking out for this bullish shark at 1.1670.
Great confluence, let's see how the market reacts over there.
No reaction no trade.