Technical Analysis and Outlook: The currency repeated its completed Intermediate Inner Currency Rally of 1.092, posting new Mean Res 1.090 with a price action pointing to our Mean Sup 1.074 - Resumption downtrend to Mean Sup 1.050 and Inner Currency Dip of 1.046 in process.
It seems that according to the regular divergence(rd-) between the two peaks created in the 🔴resistance zone🔴, the possibility of creating a Double Top pattern after the breaking of the uptrend line is very high. Since the DXY analysis is bullish, the probability of the euro falling after breaking the neckline of the Double Top pattern to the 🟢support zone🟢 is...
We have corrected the GDP volatility and continuation at 530PST. However, We have pulled back to a 1Hr/4Hr zone at 1.0895 and this woulnd't be a bad place to jump on the bullish train. I'm just watching for the rest of the day. I jumped off the train already with Buys. With all this said, we have increased 145 pips on the week. Wouldn't be surprised if Price...
As anticipated yesterday, the EUR/USD experienced a robust bullish impulse that met our target price. Subsequently, the value formed a double top pattern, and today it appears to be retesting the neckline before a potential downward movement. If the price drops, we plan to purchase at a discounted price near the 61.8% Fibonacci level and wait for a long-term...
EUR/USD Reverses Recent Gains as Greenback Gains Strength Ahead of Key Data Releases After four consecutive daily advances, the EUR/USD has given up some ground at the end of the week. The German docket's disappointing results, combined with renewed buying interest in the greenback, have contributed to the reversal of the recent multi-session upside. Despite...
OANDA:EURJPY Deliciously good Nice moves on the JPY pairs today, when others chopped all day. OANDA:EURJPY
>1.08850 T1 1.1150 T2 1.12750 <1.0750 T1 1.04150 TW 1.0050 watching 1.12750 for potential short
The scenario I'm considering is black, then red, and finally blue. Pay attention, the targets are clear, the next thing I never scalp in forex, I find the turning point and ride the wave. If you are interested in low time analysis, be sure to comment
We must first make it Past 1.07825 4Hr/1Hr Zone. Ny Open may provide the catalyst to move up to the next daily zone as we have planned and mentioned in yesterdays publishing. Price is creeping up towards resistance zone at 1.07825 as we transition into the NY Session. This is suspicious and we could breakout to the upside as we have clean traffic on the 1Hr...
Suggested Elliott wave analysis • Rule #1: Wave 3 can never be the shortest impulse wave (applies here) • Rule #2: Wave 2 can never go beyond the start of wave 1 (applies here) • Rule #3: Wave 4 never enters the territory of wave 1 (applies here) Wave 2 usually retraces between 50% to 61.8% of wave 1 (applies here and shown) Wave 3 is the longest Wave 4 usually...
Hey Traders, Trend line Breakout. DownTrend Continuation to 0.85
Following on my idea on the daily and weekly timeframes below: EURUSD looks like have completed its pullback before uptrend continuation. EURUSD retested the support (demand) zone and tipple bottom neckline at the bottom of area 1.07 on the 4H timeframe with failing to break below. Possibly a sub uptrend channel is forming, which next target is into the...
It is possible we may continue to pullback early in week and continue to reject daily level 1.07425. We must consider every daily level, even when we have a medium to long term bias on an asset. I think we can continue to pullback to the previous daily zone at 1.07795 before we see sellers step in and put in their two cents. Also the weekly candle needs to...
EURUSD was rejected from the 1.10 range and further price correction can be expected, I am currently waiting for a return to the desired level. If you see a suitable setup in the time frame of 1 hour, you can enter the short position. This Analysis will be updated ... Sadegh Ahmadi: @SDQ_Crypto 15. Mar .23 (DYOR) ❤️ If you apperciate my work , Please LIKE and ...
Hey Traders, HTF Reversal Pattern. Bearish is more probable.
The EURUSD broke through the 1.080 resistance level quickly, but was just as quickly rejected and closed below the level, returning to the channel it was previously moving in. I expect the price to retest the resistance at 1.080 before falling to the strong monthly support level at 1.067, where it coincides with the 61.8 Fibonacci and the 100 and 200 moving...
We're still anticipating one more low for the Euro against the Dollar. As you can see the move down in the last few weeks has been 5 minute waves down to make a minor wave 1. We moved quite sharply up last week in what looks to be a blowoff top to finish the minor wave 2 and we anticipate a very sharp move down over the coming weeks to complete a minor wave 3...
Technical Analysis and Outlook: The currency has completed our Inner Currency Rally 1.092 as well, posting new Mean Res 1.085 with a possibility of the retest of the letter. The main down path target is Mean Sup 1.074 - Resumption to Inner Currency Dip of 1.046 is in progress.