Hellooo...My Dragon Friends
I see EURUSD will move to our trend to 1.19XX.
but will break the trendline (little one) will have some retracement.
may be create right shoulder, inverter SHS pattern
In our previous analysis we mentioned that a break out of the falling wedge was imminent, if price failed to give us opportunities to go short. Price has indeed broken out. We are expecting price to give us one of the following in order for us to go long:
1. Wedge resistance retest and continue up, Take profit as marked on the chart. Price action will dictate if...
- Though there's upcoming potential pullback down move for EU but still there's plenty of room for EU to go up, dont attempt to sell EU this week
- only look for sell setup when it reach range level around 1.21500
- meantime will wait for opportunity to buy instead if good setup given but need further confirmation
Stay tune if you want quality analysis!
EURUSD has broken out of the contraction zone. My 1st target of 1.20000 has been reached. I expect this to go on further into the expansion zone and challenge the 2018 highs. My second target is 1.24000 as outlined in my linked idea.
Follow for further updates on this one.
Trade safe and always remember to plan your trade and trade your plan!
In this post we analyzed the breakdowns (breakouts) of Camarilla S4 R4 yearly pivots, so called yearly floor and roof levels and what impact those rather significant events had on EURUSD weekly chart. As you see, each such breakdown generated violent moves (yellow) that often lasted into the next year. If there S4-R4 violation did not generate such a move it was...
As you can see price is consolidating for the past couple of weeks on weekly resistance. Also price is respecting weekly ascending trendline perfectly.
Due to bearish divergence on DXY daily chart, it's expected that price has another bullish leg to form the right shoulder of Head and Should pattern.
However, we have "Non-Farm Employment Change" tomorrow (Aug. 3)...