We can expect more downside on the EURUSD before we can start thinking on going LONG. We can expect a retrace to 4H trend line, but price has do drop to at least the demand zone seen in the 4H chart. Technically if we get a daily confirmation(new higher low) it looks as if EU is change trend. But fundamentally nothing is clear when it comes to the Euro, Greece...
While trading in a strong uptrend price now hits 4H and 1H trend channel bottom and look very interesting to take as a bounce trade. We will be looking for a nice confirmation candle to enter LONG. Piphunters are looking for a major EB as an entry signal @ ~1.9035/1.9040 with a stop loss at 1.8970 (below 4H 36 EMA) Forexpower in this pair is GBP:-1 and CAD:1....
According to our forexpower calculation We should be looking to shor EURUSD in the short term. Currently the EU is at a descition point eaither to break down och bounce up and then backdown. watch price closely if it breaks the Demand zone(green) then we could have continuation on the friday south movement. But beeing Monday and most major EURO banks beeing...
Last week was a killer week for USD and EUR, Where USD was killer strong and EUR was weak toward ALL other currencies. My Forepower algorithm (described earlier) gives us this as a winner pair. So the week to come use your favorite setup and go short term: SHORT on EURUSD Badly formated currency matrix. EUR USD GBP JPY CAD AUD NZD CHF TOTAL EUR -1 ...
More downdise before we can see some reversal on the GBPUSD pair, since we just passed Demand zone on both weekly and daily. On weekly we broke DZ @ ~1.50, and then broke daily DZ @ ~1.48. Enter short at retracement on H4 SupplyZone (1.4675-1.4700) Try to time entry on H1 (or M30) Target on this trade is ~1.40. But i recommend to take 2/3 of your lots if we...
Wait for price to hit upper trend line/EMA36 in the supply zone. And enter SHORT. Time entry on H4 and H1 This i due to happen in end of week 16.
Wait fore price to go down to B andthen go long at the corrective wave B. This wave looks to be the begning of the new uptrend in the major channel. Enter LONG at 4h retracement in DZ close to regression channel @ B. Add lot at first (and mabye second) ROSS hook confirmation pattern (1-2-3 wave). Set first target to Regression Line center, Set second target to...
Major divergence going on MACD this is an indication that we have a dead trend. As I see it the DZ @0.7465 is the start of the new trend. This new trend seems to be a corrective wave on weekly chart. Strategy on this trade: Aggressive: Place one BUY and on SELL order at reversal going on right now (check H1 for reversal pattern). Sell the long position at new...