Currently price has hit an area of weekly resistance, and has broken current trend. So we are now looking at the pullback for a short entry. As you can see it has also broken trend on 1HR, and we are entering on the 15M pullback. www.blueprintforex.com
For several weeks, the Euro has been outperforming several Forex pairs including the US Dollar, and we were able to take advantage of the rallies and the downside corrections with them! For the EURUSD Forex pair, it has broken the weekly resistance but is few pips away from the monthly resistance which may give a clean opportunity to short it or even give a clean...
With the recent EURUSD rally we have come back up to 1.13x and we are fast approaching a Major Resistance Zone. In fact, the last time price was able to breach and close above this resistance zone on the Weekly timeframe was the 29th of September 2003 !! Price has retested this zone multiple times and failed to keep above it. I will continue to monitor on...
Our preference: position bought above 127.00 with targets at 128.25 & 129.05 in extension. Alternative scenario: in break of 127,00, a continuation of the decrease will be envisageable with 126,35 & 125,65 in line of sight. Comment: a support base on the 127.00 formed and allowed temporary stabilization.
--UPDATE-- Yesterday's session has given us another opportunity to go long with the Euro-Dollar pair. With the upcoming Euro economic event(s), this signal may partake with the saying "buy the fact, sell the rumor." The pair also made a lovely double bottom suggesting another push higher. -------------- From the recent upward push with the trading signal of the...
Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price continues to test our resistance as it shapes up nicely for a drop. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement,...
From the recent upward push with the trading signal of the fakey price action bar wherein I called for a long set-up, the EURUSD pair have yet again consolidated just few pips below the strong resistance ahead. With upcoming EUR economic data ahead, these are the several pathways this forex pair may go through.
Days ago, I called a long set-up for this EURUSD pair for the formation of a bullish fakey pin bar along with trend which suggested a push higher on prices. Now, with this signal, I normally put in a huge lot for this is a strong signal. Today, I have placed my TP at 261.8% of the pin bar since the EURUSD will have a difficult days ahead. The black horizontal...
Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price has reached our selling area and reversed perfectly as expected. We remain bearish below major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) for a further drop towards 1.1159 support (Fibonacci retracement, horizontal...
Sell below 1.1264. Stop loss at 1.1301. Take profit at 1.1159. Reason for the trading strategy (technically): Price is approaching major resistance at 1.1264 (Fibonacci extension, horizontal swing high resistance) and we expect a strong reaction off this level for a drop to 1.1159 support (Fibonacci retracement, horizontal overlap support). Stochastic (21,5,3)...
Yesterday at my "Euro's comeback" analysis, I've suggested a pretty cut long opportunity for some chosen Euro pairs: EURUSD, EURAUD, and EURJPY. The rationale for this "pretty cut long opportunity" is the strong buy signal -- a bullish fakey pin bar. I also suggested to you to read Nial Fuller's educational writing regarding the said Price Action Bar. If you did,...
The market is very heavily overbought, I believe that it's time to drop all buyers. Those who trade through technical analysis will only see a trend upward!
After EURUSD reached the monthly 'strong' resistance, it made a modest decline due to Dollar sell-off and Euro relief rallies that are currently ongoing. That being said, I highly warn you to STAY AT THE SIDELINES FOR THE MOMENT when trading this pair as there is a high risk due to the current phase of the weak dollar-weak euro. As graphed below, these are the...
Hello all, EURUSD might be due to a retracement after all that hard labour it went through. Should price head lower we will get a new pivot to draw a new pitchfork from. Cheers !