Synapse

EURUSD - Trading Opportunities within Super Trend

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

Hopefully you've taken a look at my Super Trend analysis for EURUSD             that remains current on the weekly scale, I followed up recently with a Drill Down to see how we've progressed. This chart is to show some current market movements that could give you reason to go long/short in the very near future for short to medium term swings.

EURUSD             recently broke the key 1.09 (and rising) level I mentioned I made a note that should it confirm the break it would make quick work of the distance between that and the 1.0840-1.0800 support zone . You can see that the market has done just that today.

So where to from here?

Look for Selling opportunities near 1.09, I'm skeptical that the market will let us reach the trend line at 1.0935 area, but stranger things have happened.
If we crack below 1.08, you can use this level just as we used 1.09 and 1.1070 to sell off of

What is all this Bearish , Short and Selling nonsense? I want to BUY the EURUSD             , when can I do that!??!?

My answer to you is we finally have a trade where the Euro             Bulls might stand a chance of surviving in this Super Trend! I've outlined the projections in Blue Trend Lines . We have a potential Broadening Descending Wedge - Almost Always these will break the Top Resistance. Furthermore though, it is only a potential set up! It gives people who are short on euro             a target to search for if we drop aggressively as well as a buying opportunity for you. Please note that the Broadening Descending Wedge pattern does require 3 touches on its support to be valid, currently we only have 2.

Please do your own analysis before entering any trades. I am not an Elliot Wave trader but I find the concept extremely fascinating, if your EW Counts match up with anything you see here I would love to see them. Liked what you see? Follow/Comment/"Like"
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out