JoMarshall
Long

Going Long On The EURUSD

FX:EURUSD   Euro Fx/U.S. Dollar
This is a trade that i will be keeping a close eye on, i will be looking for the market to come down to 1.0800-1.0820 before taking a long position. We have a risk to reward ratio of almost 2:1 and we have a 382. retracement falling on a major support structure and usually when we have a 382 retracement the ABCD pattern comes to mind and 1 to 1 harmonic move of this pattern will terminate exactly where the bat pattern completes, that area happens to also be a major resistant level. So in terms of structure, this is as good as it gets.

Watch my weekly video to see my in depth analysis on this pair as well as the GBPUSD             .

https://www.youtube.com/watch?v=FlS2NeSQ3fI

www.tradewithme.co.uk

Structure: How to make money in the forex market (must watch)

https://www.youtube.com/watch?v=-g93fXLaDyE
muktar
a year ago
Nice technical analysis
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JoMarshall muktar
a year ago
Thank bro!
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chiroma
a year ago
Nice one bro, what price should i buy at? thanks
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JoMarshall chiroma
a year ago
I can't give you a specific price but anywhere between 1.0800-1.0820 is a good place to buy
+1 Reply
susanfx JoMarshall
a year ago
I am also looking same movement.
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JoMarshall susanfx
a year ago
Good! Let's see if the market can give us what we expect
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I_see_BTC PRO
a year ago
Absolutely agree. The 1.0800 - 1.0820 area could be a very good entry point
snapshot
+2 Reply
SyedAnwerSyed
a year ago
Thanks according to levels that is very good idea.
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JoMarshall SyedAnwerSyed
a year ago
You're welcome. Let's hope the market gets there on monday or so
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krescht PRO
a year ago
Agree, I have a similar view
+1 Reply
KayJay
a year ago
@Jo great setup here man :)
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JoMarshall KayJay
a year ago
Thanks bro, we'll see if the market does what we expect.
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lhanrhen
a year ago
thanks Jo looking forward to this!
+1 Reply
JoMarshall lhanrhen
a year ago
You're welcome bro.
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cashio
a year ago
nice one
+1 Reply
JoMarshall cashio
a year ago
Thanks bro
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WaveAlchemy
a year ago
This is nice. Good work Jo. I have some reinforcing analysis.
EURUSD LONG
+1 Reply
JoMarshall WaveAlchemy
a year ago
Nice chart, let's hope we get that drop into our buy zone. Thanks for sharing bro.
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IvanLabrie PRO
a year ago
I'm long already, I don't think it will hit that level again...
+1 Reply
JoMarshall IvanLabrie
a year ago
Yeah we might get a brief rally from this point as it is 382 retracement and RSi is oversold but I still expect it to touch 1.0800-1.0820, but we'll see
+1 Reply
IvanLabrie PRO JoMarshall
a year ago
Yep, wait and see.
Cheers!
Reply
tokuen
a year ago
I do not agree with you for the way I see euro / dollar will continue falling

+1 Reply
JoMarshall tokuen
a year ago
You do not have to agree with me. I trade what I see and structure tells me it will go up and if doesn't then I'll take my loss with a pinch of salt and move on to the next trade. You can't win every single trade. So we'll see what happens
+3 Reply
jhakas JoMarshall
a year ago
nice
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SSSDEV
a year ago
Hi JoMarshall, Do you see 1.1100 levels as target price ,once you would enter into long trade at EURUSD ? Wonder what would happen on jan 21st for Eur/usd. By the way I trade with www.nseindia.com and usually Eur/Inr futures . As our market time is limited I have to trade Intraday and Sometimes I hold onto positions. Usually Eur/inr futures say Jan (2016) mimics Eur/usd.
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JoMarshall SSSDEV
a year ago
Yes I think we will see 1.1100 but I don't know when but if we don't break 1.0800 in the next 2 days then we might see 1.1100 a lot sooner than you think.
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SSSDEV JoMarshall
a year ago
That is right JoMarshall, I understand , But then Where would you forecast Euro/Usd say Jan 21st. Draghi always surprises with his less than dovish statements and we could have a fast rally Eur/Usd. By the way 1.0800 breaks now
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JoMarshall SSSDEV
a year ago
That's not a question I can answer I'm afraid because I don't trade using fundamentals but whatever happens with Draghi's speech I still expect to EURUSD to continue it's recovery based on structure. So we might get a temporary negative affect after Draghi's speech or it might be the fuel EURUSD needs to speed up the recovery.....nevertheless I'm staying long. Yeah indeed we have broken 1.0800, we'll if the break will be sustained
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SSSDEV JoMarshall
a year ago
Thanks Jo, I appreciate your time and the effort taken to answer my queries. You are long too . I too am long Eur/inr but predictions sometimes mean nothing much , but I see 1.1100 levels coming thru.
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RickyBrito
a year ago
Nice Jo!!
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