The Euro had a nice swing downwards to the 1.22 area. Good pips for anyone who hopped aboard. I'd take profits and watch for price to indicate what to do next. We could see a firm bounce from this area or a break and run to 1.126 trendline area.
I marked the last time price was in this area. We can use this price action to determine the likely outcome of what...
I think me might have a nice shoot of shorting the Euro here against the Dollar. If we continue to see dollar Strenght, EU and Britain keep arguing, the Euro is also bound to follow cable south. Good luck out there.
There has been a trend for years in the making. Now, I've never traded the Euro before, so I don't know how it holds past trends, but it has been holding this trend for YEARS now.
If we don't have a breakout (price breaks the top blue line) we are going downnnnn. Possibly way down to $.8
Just my two cents, lemme know what ya'll think.
Cheers.
We have higher high and higher low on EURUSD and based on this trendline I'd recommend to go long at 1.22900
Sl = 1.22200
TP1 = 1.25000
I will update TP2 after price correction of TP1
The DOWNTREND has not been broken, the channel limits are strong and have rejected BULLS several times. So the Downtrend holds ground
I appreciate your comments and Thumbs Up
Few shorts to bring us to the bottom of the channels at this stage and probably back up again. Keeping a close look.
Euro had a great run, which i believe will extend to some parts of this year.
Good luck and happy trading.
these past weeks E/U has had major news for both countries, hit highs that haven't been hit in years, and lows on DXY that haven't been touched in a while. on our you can see divergence on the chart, and indicator. it shows that it is supposed to be a double top, but RSI said it went down. Also the pattern went exactly to the 50 percent mark on the Fibonacci...
Technical outlook: EURUSD has retraced 0.38% of its rally from 1.1719 to 1.2534. The 0.38 level has held the support successfully on Thursday and Friday during the stock market turmoil. So I think that this level will hold the price and we will see the price rally towards 1.2534 again. we have another support near 0.5 fib level at 1.2127 and then the 2017 high at...
I'm currently short 1.245 1 st target 1.22
I believe last weeks price rejection is a sign that this bullmarket needs a pause .
Bollinger cap on weekly and monthly suggests strong reversal
