EURUSD is showing signs of a rebound from the higher low area of the uptrend line in the 4-hour timeframe chart.
📉 Expectations:
Anticipate the pair to re-test key support levels as highlighted in the attached chart.
📊 Trading Strategy:
This trade is based on a combination of technical analysis and candlestick patterns. It's a long-term position, so ensure...
EURUSD - Favorable Conditions for a Long Position
The EURUSD pair is currently showing promise for a potential long trade, following a breakout from its previous trading range. The market sentiment has turned bullish. Meanwhile, the Dow Jones is displaying a bearish trend, coinciding with my area of interest. It's essential to consider the ongoing geopolitical...
Is it possible to see the Dollar depreciate against the Euro in the upcoming future, as a wannabe economist. I propose a few objective data points that may or may not support this thesis. I am interested in gaining feedback to further my ability to apply what I am self-teaching myself.
The result of today's strong US ISM non-manufacturing data: ISM Non-Manufacturing PMI (Aug) Actual: 56.9 Forcast: 55.1 Previous: 56.7 pushed the DXY higher today as data showed a bullish sentiment overall from an actual and previous data standpoint. Banks and investors still show confidence in buying the US dollar as fundamentally Powell still wants to raise...
We have a descending channel on the daily time frame, with a break below hourly support at 1.09950 and lackluster Euro PMI to give us a short bias on this pair.
It may seem that Euro is doing a bullish swing but I do not think it is not going to last long.
Areas such as 1.188 or 1.1960 will be a very hard resistant and they can be nice places to short positions.
Trade Safe and read the disclaimer, too,
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes, and does...
