It took a while for the EURUSD to rise into such "new hights"; almost a month.
But that's all for January. After reaching the 1.0700 level the EURUSD will start a downtrend.
So in the next months we will see a falling Euro.
I placed a SLO into this red zone because I think that today (or at least tomorrow) during ...
I'm a beginner in Technical Analysis and would like feedback from others.
Looking at STAR I believe a short-term down trend will take place. I've drawn trend lines and use the 5/10 SMA to determine the trend. I'm unsure of the hammer but after some resurgence the downward price action should continue.
The price is close to a zone of resistance if the price is not able to break the 1.0847 area will be an execente to go short. short to 1.0363
If the price the price breaks the resistance that is located in the blue zone of 1.0847 the arrival price 1.1125 will be an excellent long trade.
So this pair is probably falling back to 1.061x levels within few hours. The setup is explaining the whole plan. Wait for the price to break and close below 1.06844.
*Plain and simple, other than this, the plan shall be cancelled.
Looking to sell the GBPNZD. 2 possible prices for retracement to then enter short.
Idea 1 sell around 1.72 - 0.382 fib of move from 1.7476 to 1.7050, 0.618 fib of move from 1.6704 tp 1.8000 and 4 day EMA
Idea 2 sell around 1.7267 - bee support twice (10/01 & 11/01) & acted as resistance on 12/01
Initial target ...