2 h.h and 2 L.L created , possible establishment of a downtrend
() possible retest of zone 1.12309 for resistance in confleunce with fib level 0.618
and down trend line.
berish momentum is strong due to the angle of the trend line, wish adds to my bearish bias.
EURUSD bulls seems exhausted. With price being rejected THRICE at 1.1263, it seems EURUSD will reverse LOWER soon.
Even if price manages to go up, there are plenty of resistance at 1.1290 and 1.1305.
However, at this moment, EURUSD is likely to drop towards 1.1200
Price is approaching our first resistance (horizontal pullback resistance, 78.6%, 50% Fibonacci retracement, 100% Fibonacci extension) where we might see a corresponding drop to our first support level (horizontal pullback support, 61.8% Fibonacci retracement, 50% Fibonacci retracement).
Stochastic is also approaching resistance where we might see a corresponding...
Looking at EUR USD for a possible short Setup which will get validated after the break of current counter line and then we can go SHORT on the retest of the counter trend line.
The price is currently pulling back to the current resistance level (earlier support), after this formation, the ADX should give us a reversal signal and we will be selling with TP at a lower key level and SL at earlier pattern resistance
Dear traders,
So as you can see we expect NZDUSD to go long. We think it will go long because the markt is now in a strong weekly/daily demand zone. If you zoom in on the daily chart you can see we are now also in a strong buy order zone that’s been filled with the spike.
It will be much clear on the 4h chart, you can see the 4h trendline is been broken and...
EURUSD is approaching our first resistance (61.8% Fiboancci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where a strong drop might occur below this level pushing price down to our major support (horizontal swing low support, 100% Fibonacci extension). Stochastic is also approaching resistance where we might see a corresponding drop in price.
Intraday short for FX:EURUSD
waiting for a retest of the daily key level 1.12327 to sell.
SL 1.12415 (or close the position manually when the 1h candle closes above the key level 1.12327)
1st TP 1.12127
2nd TP 1.12021
EURUSD is consistently trading in a very narrow range which highlights the fact that there could be a REVERSAL very soon.
That being said, it's quite evident that the cross is trading in a BEARISH CHANNEL.
Look for SELL entries between 1.1230-1.1260 with SL above 1.1270 and target 1.1080
If price breaks above 1.1280 look for buy opportunities with TP target 1.1440
![EURUSD: [symbol="FX:EURUSD"]FX:EURUSD[/symbol] short term (intraday)](https://s3.tradingview.com/0/0OYZaJQB_mid.png "[symbol=\"FX:EURUSD\"]FX:EURUSD[/symbol] short term (intraday)")
