I see the USD fundamentally weaker than the EURO. With a larger timeframe bias in mind, we saw the previous day break the high of a Bearish day. I would expect this day to do the same with a retracement to test a broken zone around 1.1480-1.14978 of previous resistance. My fib was drawn from the most significant movement. Targets for my long position would be...
GBPUSD broke a very key level last Friday. As expected, price has now corrected and returned back to the broken resistance. It should now retest as support, and continue higher. I will be waiting for a confirmation before entering long.
This appears to be a good time to short EURUSD for the long-term based on the daily and weekly charts.
There are 3 key areas of resistance that EURUSD has failed to hold above and/or penetrate.
* Fib 0
* GANN 4/1
All of these are within the 1.126 and 1.13 area. Stochastics are also in overbought territory with...
I analyzed this early weds or thurs last week. I was quite excited but as you can see my pattern was not met. I am still watching this pair and I have a 1% trade in going short with it. Hopefully this week we get some better clarity. I don't have the points set exact because I was not going to share this chart but the ratios did work
was waiting for this beautiful retest
Selling now (1.06955)
TP 1 @ 1.0590
TP 2 @ 1.0480
SL @ candle close above the RED TLINE confirming a trend continuation
about (1.0730) and higher stop (1.0747) under orange trend line im holding to downside
Many traders have already taken a position on EU, but if you haven't caught on yet, short it.
That is my advice.
With the strengthening USD (DXY), and price breaking 2015 lows, EURUSD will be plummeting over the next few months
The 1,5 month corrective structure has been broken to the downside, indicating a likely move down towards 18.000-17.600. Best area for a short entry would be the bottom of the previous corrective zone between 19.200 - 19.500.