This trade is very interesting. We are looking at a war between the bulls and bears since we went near that monthly resistance. Until it can stay above that line on the daily timeframe , I am suggesting a short with a nice RR. For more details, look at the analysis above.
Trade safe!
This trade is very interesting. We are looking at a war between the bulls and bears since we went near that monthly resistance. Until it can stay above that line on the daily timeframe, I am suggesting a short with a nice RR. For more details, look at the analysis above.
Trade safe!
Buy above 1.1379. Stop loss at 1.1355. Take profit at 1.1447.
Reason for the trading strategy (technically):
Price has dropped nicely towards our profit target. We prepare to buy above 1.1379 support (Fibonacci retracement, horizontal overlap support, Elliott wave theory) for a bounce up towards 1.1447 resistance (Fibonacci extension, horizontal swing high...
Euro/usd currently looking to complete the Crab Pattern it may or it may not so we shouldn't risk it and sell Eur/Usd now for sure we should wait for a good opportunity and a good point entry to put our SL Tight always remember to enter in good position with tight SL thanks.
Our preference: position bought above 1.1380 with targets at 1.1420 & 1.1440 in extension.
Alternative scenario: in break of 1,1380, a continuation of the decline will be envisageable with 1,1360 & 1,1340 in line of sight.
Comment: A support base on 1,1380 formed and allowed temporary stabilization.
Sell below 1.1425. Stop loss at 1.1450. Take profit at 1.1355.
Reason for the trading strategy (technically):
Price has reacted off our selling area really nicely. We remain bearish looking to sell below major resistance at 1.1425 (Fibonacci extension, Fibonacci retracement, horizontal swing high resistance, bearish price action) for a push down to at least...
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.
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I expected a short term reversal to 1.1380 and a bounce to some where around 1.1510, it will be prudent to get out at 1.1500. All of this is supported by Fridays fundamentals which was 1 positive news for the currency (Non Farm Employment Change) vs 2 negative news (Unemployment rate and average hourly earnings m/m). Please be careful around Wednesday and Thursday...
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...
Our preference: sales position below 1.1370 with targets at 1.1315 & 1.1290 in extension.
Alternative Scenario: In excess of 1,1370, aim for a continuation of the rise with 1,1400 & 1,1425 in line of sight.
Comment: The RSI pressed a straight up trend.
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.
Hello traders,
After the long uptrend, the EUR/USD pair is showing signs of exhaustion. First, it seems to be failing to make a new higher high, as seen on the latest candle. The RSI is starting to show a divergence (RSI is not making a new higher high on the latest candles).
I will be waiting until the 4H candle breaks the 20 moving average from the Bollinger...
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.
It requires...
