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The counter has been rising sharply from the low.
The entire structure looks like a bearish cypher pattern.
We expect the pair to face resistance at the reversal zone marked in the chart and move back to support level.
EU has been bearish last two days trading in a nicely structured downtrend on the 4H. Today price made a higher high then made a lower low but was not by very much, basically making a double bottom. Price then came to the resistance and is currently making the higher low on the 4H starting an uptrend and making bullish market structure. I entered on a higher low...
EURUSD broke a strong downside trend line last month. Trend began at May 2014.
If under performing DXY continues to stay below 94 , my opinion about Euro is, it will be strong against dollar and we can see new highs from EURUSD.
My entry price for today : 1.18450
SL : 1.17750
TP : 1.8950
EURUSD has formed a double top near the new highest resistance, while also forming a horizontal support structure below the strong resistance level.
The area between the two in yellow is a decision range. Breakout either way will be a signal of the further direction, which is shown by the arrows.
The further direction...
When we look at the chart we can see that the price has broken a falling wedge. We are now waiting for the price to go and retest the wedge. Once we get back to the wedge we could consider to go long.
If we look at DXY we can see that the price is below a small time support level so if the price stays below that level we could go long before the retest because it...
Rest & Retest.
Price is making support. You should buy a price on the support.
Now it is the time to buy EURUSD.
I was watching tv. Need to be cool and you need to be calm for making perfect analysis.
Sometimes people not looking the price on the chart before making a confirmation.
Price doing rest and retest. It will show you some sign which it says the price...