EURUSD took an unexpectedly bearish turn as a lack of demand failed to maintain the price higher and a weak Euro data caused a snapped in the shared currency.
The price broke 2 higher lows in one wave thus making a strong case for further bearish movement to follow.
Due to Easter Day, volatility will be low and the price may continue to retrace higher.
We can wait...
Here as you can see I have found a potential SELL on EUR/USD seen on screen above.
Reasons for this are that that on the Fibonacci retracement tool, the price has fell below the 61.8 and is no retesting the 78.6, due to this I believe a sell is very possible.
However, if the price successfully retests, we could see a reversal to the 61.8 which would be a BUY...
Recently due to the news from EU euro wenr down. Now we can see a corrective Elliote Wave, where wave 1 is already done, wave 2 is in progress, so we have a reason to wait for the wave 3 down. In addition, there will be some news about EU at Monday, so it's highly likely we'll see another strong wave down. I suggest to put a buy stop order under the end of wave 1.
Euro dollar pair is very close to a demand zone.
Lookin left we have a significant support zone between 1.118-1.122.
Pattern completion point is inside this area.
Buy only with confirmation!
Please, check my signature and related ideas!
It's Good Friday and most major banks are closed for trading including London and Germany.
Since there won't be much volatility, the market has been making retracement throughout both Asia and Euro session.
So I just wanna revisit the last 2 pairs which are by far proceeding as per plan.
Gold: Retracement towards 1284 - 1287 supply zone to sell.
We take more than 200 pips in the ideas posted last week
Time to follow the principles of trading.
Bullish Tendence and fibo 61.80% retracement.
Always use stop loss and take Profit
Support in 1.17700 pull back soon
A n inverted head and shoulders pattern seems to be forming on the 1D chart. The left shoulder has been completed and the head is currently being formed, over the short term period, we should see this pair climbing up to the neckline of the pattern. Then if it is a head and shoulders pattern we would see the right shoulder start to form. I will be updating this...
The pair is trading on a nearly year long bearish Head and Shoulders pattern on 1W, ranging (RSI = 51.063, STOCH = 51.102, MACD = -0.011) since last November within the neckline of the right Shoulder. The Highs and Lows within the neckline show that there is still upside potential before another bearish leg towards 1.63000. Medium term swing trades may find it...
Here it is.
The perfect setup on forex.
• The price has reached the top of Bollinger Bands
• Weis Waves – we expect termination of this wave – SHORTs are coming
• WBM BUY/SELL Indicator – the price is highly saturated. Trend reversal/ correction is highly expected.
Take a look at how good it worked in the past.
We may fall as low as...
We saw a strong bounce off of the 61.8% fibonacci zone, but we're coming up on a strong resistance that was previously a strong support.
I like to play these Support/resistance flips the first time they test it as the supply usually keeps the price from moving through the level and they are nice shorts with a strong RR for less risk.
I have a relatively tight...
The rebound near the 1.1175 1M Support was something that was largely expected due to being a long term Buy Zone as shown on the trading idea below:
But notably this rebound is being executed on a symmetrical cup curve which may complete the 1.13022 -...
Updated View On EUR/USD (6 Apr 2019)
Back Ground: Euro launched the last rebound attempt in the late March as the price swing up back to 1.14 but it had failed. Now we are back at the support level of 1.15 to 1.12 region.
There "might" be some bullish attempt in the near future BUT it is a better bet for you to wait at the resistant level for SHORT trades.
Aud usd has reached a significant level of resistance 0.72
Looking left we see that this level was strongly rejected by bears.
RSI shows clear divergence.
+ check daily chart, there is a nice dodji candle around 0.72 zone.
Sell the breakout of a channel:
T1 - 0.712
T2 - 0.706
Please, check my signature and related ideas!
It is a bit risky selling opportunity but it is hard to believe that this important trendline doesn't hold at all.
Because it is risky, then we have to wait for a bearish candlestick formation (bearish price action) and it has to come from 4H and from Daily timeframes.
Here could from a pretty nice sell setup but yes, need to watch price action around the blue...
I hope trading goes well.
Well, it's been sometime since I made video analysis, so after looking at some old charts I came up with an idea to update you on some of the FX market since December video analysis.
Also, I see some very interesting developments on EURUSD at the moment. I really think it's worth to keep an eye on it.
Please, if you...