EURUSD had a strong rebound & it has pullback to a supply Zone. Looking to short near 1.1990 - 1.2030 supply zone with a stop @ 1.2080 and targeting 1.1760 area.
**This is not an investment advice.
EURUSD last week was showing a strong upwards movement at the beginning of the week, a strong support was found at the 1.2310 region and thus EURUSD managed to rise again at the beginning of this week (16/4/2018). However, a quite stop at 1.2410 region and EURUSD start to move sideways by then, a strong indication of buying power had been consumed.
With the...
Entered into a long position with the Aussie Dollar this morning (as per my previous analysis) and knowing EURUSD moves in conjunction the analysis lined up for a long position on this pair also. Stop loss now at break even and looking at shifting it into profit as it reaches the higher levels later today.
The original link I posted for the EURUSD can be found below:
I have decided to use the Elliott wave principle in this post to analyze the EURUSD.
Price action above can be described by a 3 wave move in what seems to be shaping up as an expanded flat (3-3-5) Elliott wave structure. We are currently finishing intermediate wave C which implies that the sell off...
The EURUSD has being in a bullish trend since December 25 2016 (based on the Weekly tf) and the trend should resume albeit the temporary sell off as shown on the 4hr tf.
For the 4hr tf, I have shown the evolution of the trendline for price action with Trendline 1 being the major trendline, while Trendline 2 is a more recent and steeper trendline. Trendline 1 is...
Pending Short @ 1.1950
Stop Loss @ 1.2100
Target @ 1.1650
RR Ratio @ 2.0
Trading involves substantial risk of loss. I'm just providing insight into what trades I'm taking.
