Bearish pull back expected to 1.0995. If we support holds and we get bullish price action around this level we will open a long position to 1.1100 with an extension up to 1.1150. A break below 1.0995 opens the door to 1.0898.
- Falling wedge breakout on the daily chart.
- Found support above 21MA, 50MA is the next resistance.
- MACD turned bullish on Daily timeframe.
My last analysis on this pair was right and now EURUSD reached 1.11 support/resistance zone. With this move the price has broke out the H4 chart downtrend line and arrived to 38.2% fibonacci zone. On this level the RSI is high(70%), so i think the price don't break this resistance for first try, so we can wait a little reduction before the breakout. If the...
Amazing trading activity today.
I got out of my short on EURUSD with 2R profit as ECB lowered interest rates to be even more negative.
Absolute madness if you ask me, but I will trade it happily, while I buy physical could.
Anyway, right after I was out of the trade EURUSD rallied higher forming a huge engulfing candle.
I will be looking to trade this countertrend...
EU is painting inverse head and shoulder pattern on smaller time frame. CPI data is about to release. keep an eye on 1.1120 level. a breakout above this level will confirm H&S. also, keep an eye on CPI data and open long position based on that.