Hello Everyone,
The EURUSD 12 HR price chart is beginning to look the same as it did in early 2018 prior to a significant sell-off.
-From Jan 2018-April 2018 we saw two distinct peaks followed but multiple lower highs.
-In the present, we again saw two distinct peaks followed by multiple lower highs.
-The 50 day-EMA fluctuated in a tight zone just before crossing below the 100 day-EMA and 240 day-LWMA (linear weighted moving average) during the time between Jan 2018-April 2018. We saw a noticeable sell-off once the 50-
day EMA moved below the 100 day-EMA.
I expect to see a similar result when the 50-day EMA crosses below the 100-day EMA in the present.
On the 1D price chart, you can see that price has consolidated around a moderately strong trend-line and the .618 Fib Level. (see chart below)
Entry would be considered if/when the 50-day EMA crosses underneath the 100-day EMA. If this does not occur, no trade would be placed.
*This is not trading advice and is simply my analysis of the current market. Always do your own research*
The EURUSD 12 HR price chart is beginning to look the same as it did in early 2018 prior to a significant sell-off.
-From Jan 2018-April 2018 we saw two distinct peaks followed but multiple lower highs.
-In the present, we again saw two distinct peaks followed by multiple lower highs.
-The 50 day-EMA fluctuated in a tight zone just before crossing below the 100 day-EMA and 240 day-LWMA (linear weighted moving average) during the time between Jan 2018-April 2018. We saw a noticeable sell-off once the 50-
day EMA moved below the 100 day-EMA.
I expect to see a similar result when the 50-day EMA crosses below the 100-day EMA in the present.
On the 1D price chart, you can see that price has consolidated around a moderately strong trend-line and the .618 Fib Level. (see chart below)
Entry would be considered if/when the 50-day EMA crosses underneath the 100-day EMA. If this does not occur, no trade would be placed.
*This is not trading advice and is simply my analysis of the current market. Always do your own research*