Sell below 1.0711. Stop loss at 1.0758. Take profit at 1.0623.
Reason for the trading strategy (technically):
We remain bearish with the break of our long term ascending support-turned-resistance line. The goal is to be bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623...
Buy above 1.0711. Stop loss at 1.0622. Take profit at 1.0811.
Reason for the trading strategy (technically):
Price has reached our profit target for the 4th time in a row. We now turn bullish above 1.0711 support (Fibonacci retracement, horizontal overlap support, bullish price action, long term ascending support, USDCHF negative correlation) for a push up to at...
Sell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly from previously. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback...
Sell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.
Reason for the trading strategy (technically):
Price reacted really nicely from our selling area. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic...
EURUSD is now fighting with the resistance level and we can expect bearish movement from this resistance level if any bearish rejection candle formed on this level.
If this pair can break this resistance, then we can get bullish movement on this pair towards 1.0800 level
Eurusd can start bullish movement from near term support level. So we need to go for buy again if we find this pair near to 1.0460 level.
In my previous analysis, i mentioned for sell from resistance level, this pair fell from that resistance area. Overall bias for this pair is still neutral. Need to break resistance, support for further movement
As i mention about bearish momentum on eurusd pair, this pair is falling near from sell area. We can see pin bar pattern on h4 time frame, we indicates another sell chance on this pair. On the chart, sell level has been pointed and risk/reward ratio is 1:2.
On the chart, we can see ABCD pattern. Now price stays at C point. Expecting buy movement from this level. Need to wait for price action candle to take long position.
1.0480 level was previous resistance level for eurusd which becomes new support for this pair. Expecting pull back from this level with targeting 1.0650 level.
In my previous EURUSD analysis, i mentioned about morning star from support level. This pair followed this nicely and moved 250+ pips. Now this pair has formed bearish bat pattern.
On the chart, we can see D point which is the sell point for this bearish pattern. Price has been rejected from that level and fall more than 100 pips.
Expecting more down on this pair...
Considering what we had in mind for eurusd and following the first try eurusd long we had from friday and getting stopped the 4hr candlestick formation is suggesting a reversal and we for the 2nd and last time to suggest to buy eur from the 1.0630-1.0640 area.
