amanpaulbhogal

Opening week sell possibility 1 - EUR/USD

Short
FX:EURUSD   Euro / U.S. Dollar
1. EUR/USD

EUR/USD rebuffed the ~1.1430 resistance area , the fourth time this year, and the 200 ema closing on Friday as a bearish engulfing bar. A ranging pattern between 1.1430 and 1.0820 is quite apparent. Although it can be argued that signs of an up trend are noticeable since July 2015, a retest of price at the previous low at 1.1080 or trend line in the nearby area showing bullish signs for upward continuation should confirm bullish momentum over the nearer term. For now, I'm taking my cue from the rejection behaviour around 1.1430 and look to sell EUR/USD .

entry - below low of bearish engulfing bar
stop loss - above high of bearish engulfing bar
target - around 1.1080

Comments

Great chart here amanpaulbhogal. I'm new to binary options with no prior experience and have been learning about support and resistance.
This is great help. Many thanks
Reply
Thanks zchinhori. Hope you enjoy options trading. :)
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out