DanV
Long

EURUSD - Could it be potential Buy here?

FX:EURUSD   Euro Fx/U.S. Dollar
1047 6 4
I remain bullish longer term on EURUSD             . However, I think it has pulled back sharply so far from recent high and could be presenting a relatively low risk long entry. A break above 1.3150 would be a confirmation. Likewise a failure below the rising lower parallel of the pitchfork could call in to question of the overall trend, which might continue to range for a while.

Take note of co-related EURUSD             & DXY             chart I will post below
DanV MOD
3 years ago
The DXY looks like have moved of the Sept low and has formed a potential rising wedge, an ending diagonal. If so then break below the rising lower parallel of the pitchfork will confirm further weakness and support EUR rising.
snapshot
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DanV MOD
3 years ago
Potential buy at 1.0350 did not prove successful. However, we now have possible Fib retracement which also have confluence with price symmetry (Pink & Green) around 1.2950 area. We could have that low by late Thursday or Friday this week. Here is the updated chart
snapshot
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DanV MOD
3 years ago
Also here is corresponding Intraday chart of DXY. Any long trade on EURUSD could also be checked against other EUR pairs for confirmation if it helps
snapshot
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KevinT DanV
3 years ago
Hi Dan. You think 80.5 ish is still the target? Or is a pull back up in place?
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butterliesel
3 years ago
hello dan, could you please update your personal view of the actually situation?

thank you, cheers,
Peter
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ForexPic.com
3 years ago
It is time to go short very soon :)
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