Synapse
Short

EURUSD - Lack of Buyers Leads to Selling

FX:EURUSD   Euro Fx/U.S. Dollar
614 10 21
Greetings Fellow Traders,

So many on Trading View almost exclusively trade EURUSD             - and we've got a good opportunity coming up!

My outlook and views overall are no secret for EURUSD             - but here's what the current scenario looks like.

Buying power is diminishing, look at your indicators, I can see the divergence just by looking at the candles and chart - confirm it with your indicators. Current bullish strength on the 1 hour, however it hasn't pulled away which increases the chance for another rally to the upside. Topside strength and projected levels are shown.

See previous analysis for EURUSD             regarding my ideal sell areas between 1.1350-1.1425 (we've already entered this area) but there is a chance to make a fresh high.

If we do make a fresh high, redefine the bullish strength and get a good sell position in on a break of that. Targets will be look at where this buying power began near 1.11000 likely to be hit early next week.

Feel free to comment/like/follow
dewpoint PRO
a year ago
Good chart, i remember an entry i had around the 1.1450 level last year, i don't get many of those, so will set an alert for this one. thanks again for posting
+1 Reply
IvanLabrie PRO dewpoint
a year ago
We might have a nice position trade around these parts guys.
+1 Reply
Synapse IvanLabrie
a year ago
I definitely agree :)
Reply
Synapse dewpoint
a year ago
Thanks!
Reply
It does looks good.
+1 Reply
GoodLuckbabe
a year ago
very nice spot Synapse i think one more retest is left before strong rejection also on waiting list for that last retest to get short i think price will start to retrace from around 1.14 to 1.14500 let see will it touch that level or not thanks for sharing
+1 Reply
GoodLuckbabe GoodLuckbabe
a year ago
you also spot that level very nice
+1 Reply
Synapse GoodLuckbabe
a year ago
Thanks! imranafzalmugal4. I agree that even though we've moved lower today there is still a chance for us to see 1.14 yet. In any case, I will be selling any EURUSD rallies from this point.
Reply
GoodLuckbabe Synapse
a year ago
absolutely wright Synapse thanks for sharing
+1 Reply
dchua1969
a year ago
now that it has hit the bottom channel line, should we await it to retrace to your ideal selling point before shorting?
or can we adopt a intraday , going on a 60 or 15 mins chart to long with 1.13204 as the TP (bearish candle)?
there are as many proponents to long EURUSD now as compared to opponents who wants to short and this can be pretty confusing for a newbie
to make an informed decision.
Your advice is much appreciated. thanks
Reply
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