On daily bullish engulfing pattern is formed at daily support level, so we have to wait for retracement to the level and must buy after bullish candlestick confirmation. But this is market and anything can happen so follow the price action and take entry near the zone based on bullish or bearish evidence.
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Sideways consolidating market structure.
Very strong price action after forming new lows.
Bearish waving market structure and price action.
Expecting prices to push up and above previous...
A significant downward trend, one of the signs pointing to this trend is the red Ichimoku cloud in the graph above.
For two weeks now that eurusd is not making any serious moves, this can be explained by the time we are at the end of August.
The recommendation is to keep an eye out and once there is a break, act with the direction.
EURUSD bearish trend deepens as subsequent downtrend target is priced at 1.113.
US dollar index continues to consolidate in value with index approaching 98.00.
Trend analysis indicators remain bearish-converged pointing at the bear market.
A few days ago, i did a mark up on EURUSD which i have attached below. As you you can see price moved and achieved my Take profit 1 and there is potential for price to make new highs and hit our take profit 2.
In this post, i am going to break down this mark up on an educational basis as i believe it may benefit a lot of people.
To begin with, it it very...
While the price is above the support 1.1000, beginning of uptrend is expected.
We make sure when the resistance at 1.1450 breaks.
If the support at 1.1000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI downtrend #1 is...
Red channel descends with negative highs.
Stochastic with cross lines indicating a trend reversal.
According to the Ichimoku, the model is completely bearish.
The eurusd is in the upper range of the falling channel close to the resistance line, which serves as resistance and this increases the chance that we are on the way to another negative peak.
As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.116.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of S2=1.114.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
A pattern was created here that could signal a change of trend, the candle with the long line down indicates a change of trend if after that green candles appear, as in the above case.
Stochastic crosses at the right level.
Here's a simple and cool model, I'll explain why:
Last week we exceeded the average moving 200 and we were sure that this is the eurusd returns to the upward trend but the candle closes in the form of a star (warning of a changing trend, the next candle must be red to be verified)
Indeed, this week's candle is red, the eurusd has fallen back below the 200 moving...
A definite downward trend.
All the technical indicators indicate continued declines, but you can still see interesting support in the daily graph at 1.1060, so of course, it is important to see confirmation that at least one green candle, but it is already enough for a buy signal with a risk of 3/5