EXY is at a critical turning point which will judge its course in the future. Looking at the data in the charts, it is obvious that the sellers are trying to lead the index to lower price levels.
Starting from the analysis of the trend and its momentum, in the price chart on the left, there is a downtrend lately which has led to the break of the lower limits of...
Trade Plan of EURUSD with Bias being Wait and See
Look for the support at 1.18028 - 1.18010
Trade Plan 1:
If Support is Honored with Bullish Candle;
Take Entry for Long with SL 1.7934
TP: 1.18846, 1.19106 and 1.19756
Trade Plan 2:
If Support is Broken
Trigger your shorts with SL: 1.18513
TP: 1.17574, 1.17066
good mood and profitable trades ! 💲
In the 1h chart we can see a negative correlation between DXY and EXY.
While DXY broke out of the falling wedge with a nice kick, we saw EXY break out of the rising wedge.
In the Dollar index I see a nice bottom formation with HLs and a HH. In the Euro Index we can see a top formation with LLs and LH !
EURJPY retest of 129.400, to continue bullish movement into 132.400. Due to a fibonacci retest completion and targets are 131.240, 131.900 and finally 132.400 monthly level. Euro to appreciate due to breakout to the upside of wedge formation supported by weekly level of 118.3.
there exist a very steep Bearish Divergence between the price and MACD and Its Histogram, which is the sign of trend reversal.
the price has already broken the low bond of the ascending parallels Channel where it was rallying earlier.
price has retested the Support line and it didn't stand after the second attempt and now turned to resistance, which is a very...
Lowest Low = 2017
Last High = 2018
Higher Low = 2020
Higher High = ?
When we make an higher high above current STRONG RESISTANCE you could say that we are in an confirmed uptrend.
STRONG RESISTANCE: 122.5 - 124.5
This zone accounted 3 times as support, one breakdown in 2015 and then acted 2 times as resistance.
You do not want to forget this important S...