Hey Traders! Looking for a long term buy, we have to analyze the ongoing corrective structure in order to plan the trade. Will be posting updates! - Hola Traders! Buscando un largo plazo de compra, tenemos que analizar la actual estructura de corrección para planear el trade. Pondré actualizaciones! Carlos
The price action broke the channel here. Our strategy has rules in place where we need to see valid pull back in price action before taking a short trade on the break of this channel. We see here that it is consolidating which is a good sign that its going to break to the down side. Keep an eye out on this pair as it will most likely be a quick move.
So, the eurusd is making a higher high and higher low sequence in the short-term. Structure wise we expect the market to test the 1.1150 levels before the weekly downtrend could resume. If the market breaks below 1.07775 we wouldn’t be looking for more upside anymore. The reason for that are intermarket relations, structure and correlations reasons. We don’t want ...
Failure at 1.0767 earlier today followed by a drop below 1.0739 (previous session’s low) adds credence to the failed bullish inverted head and shoulder breakout and a bearish break from the rising channel and has opened doors for a sell-off to 50-DMA support seen at 1.0676. On the higher side, only a daily close above 1.0828 would abort bearish move.