The EURUSD pair is about to form a MACD Bearish Cross on the 1W time-frame, which is the chart that perhaps serves at understanding the current situation better than any other. It's not just the Channel Up pattern since November 2022 that is driving the trend but also the candle action on weekly terms. As you can see after each Channel Up top (Higher High),...
The EURUSD pair is rebounding just before hitting the 4H MA200 (green trend-line), with the 1D RSI printing a similar formation to the January 06 2023 rebound. Within this 8 month Channel Up pattern, the 4H MA200 has been the pivot between bullish and bearish sequences, hence the Support now that we are on a bullish leg. As long as it holds, we are expecting the...
EURUSD gave us last week a very successful buy signal (see chart below) after the 4H Double Bottom: Our long-term Target of 1.11350 has been hit and now we look at the next most efficient level to buy as this is an extension of the long-term Channel Up pattern to form the technical Higher High. As you can see on this chart, this bullish wave resembles those...
EURUSD followed the buy recommendation we made more than a month ago on the market bottom (see chart below) precisely on the way to our 1.11350 long term target: The price is now above the 4H MA50 (blue trend-line) with the 4H MA200 (orange trend-line) strongly supporting, having almost caused the Double Bottom of last Thursday. The break-out above the Lower...
The EURUSD pair has entered its new bottom phase to price the new Higher Low on the 6 month Channel Up. That has completed the sell continuation we called after the 1D MA100 (green trend-line) broke 3 weeks ago and set a 1.0700 target: The 1D RSI break-out above its MA trend-line, practically confirmed the start of this bottom process. We can't overlook the...
On Friday's EurUsd market commentary, I've written that the 1.0750-1.0760 zone is strong resistance for the pair and a break above could lead to gains towards 1.0850 and to a change of medium-term downtrend. The pair, indeed reversed from that zone, but what should have been a correction is looking more and more that a resumption of the move started in...
Two days ago I've written that EurUsd could be ready to reverse to the upside, but for confirmation, we need a break of 1.0750 zone resistance. The pair took a dive under 1.07 at first, but this proved to be a false break and now is trading again in this important level o resistance. The recent rally from around 1.0630 is very strong and indicates a bottom is...
Yesterday, EurUsd spiked under 1.07 and, after a low at 1.0674, the pair reversed and managed to break back above the falling trend line started at the beginning of the month (we also have a long tailed bullish engulfing on our daily chart). This spike and reversal could very well suggest a bottom in place and EurUsd could be ready for more gains. Confirmation for...
Last week, as well as two weeks ago (see charts below) we called for a sell continuation on EURUSD after the 1D MA100 (green trend-line) broke and called for a 1.0700 target: The target was reached and as you see the price hit the Inner Higher Lows trend-line of the long-term Channel Up, similar to the Low of February 24. At the same time, on a perfect...
The EURUSD pair is close to hitting our sell target as presented to you on our last week's analysis (see below): The 4H MA50 (blue trend-line) remains the Resistance since May 08 and following the 4H Death Cross, we are on the 2nd part of the correction within the 6-month Channel Up. The Lower Lows as defined by the previous correction phase of February show...
The EURUSD pair is still trading inside the long-term Channel Up pattern we identified more than 2 months ago and bought the bottom (see chart below): With the recent price action however, we shift our attention to a shorter term Channel Up due to the possibility of extending the recent selling. The pair is basically trapped within the 1D MA50 (blue...
The EURUSD pair continues to trade inside the long-term Channel Up pattern we used to call for our big bottom buy more than 2 months ago: Today the price is testing the 1D MA50 (blue trend-line) for the first time since March 24, having broken below the 0.236 Fibonacci level for the first time since March 17. The 1D MA100 (green trend-line) was the level that...
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
It has been 2 months since we called for a long-term buy on EURUSD at the bottom of the Channel Up on our March 07 analysis, targeting 1.06800 and 1.10300 in extension: Both targets have been hit and as the 1D RSI is posting a price action similar to November - December 2022, this pattern becomes again more relevant than ever. This RSI fractal initiated a...
The EURUSD pair has hit yet another target following our bottom buy within the Channel Up 9 days ago: By doing so it almost hit the 1.786 Fibonacci extension, which was the next target level on this sequence of Higher Highs. The next one is the 2.0 Fib at 1.11500 but not before a pull-back inside the usual Buy Zone of the 4H MA50 (blue) and 4H MA100 (green)...
The EURUSD pair executed our long term plan as presented on our early March idea perfectly: Right now, it is rising above the 4H MA50 again (blue trend-line) after nearly touching the bottom of the Channel Up pattern that started on the March 23 High. Since the first Low, the Higher Highs that followed touched the 1.236 and 1.618 Fibonacci extensions. The...
After the dive to the 1.05 zone, EurUsd recovered and at the time of writing is trading back above 1.09. To be honest, I don't see a fundamental reason for a reversal on this pair to the more familiar ground (1.15 or so) and the most probable scenario, in my opinion, is range trading for the months to come. That being said, 1.1 should provide resistance, and...