This week we will be looking for new selling opportunities on EURUSD.
For now, the main and preferred option is to see another rise to the 1.1640-1680 zone and from these levels, we can expect a reversal.
However if we have a drop in price today, we will look for entries at a lower levels.
We expect a breakout of 1.1525 and continuation of the downside move.
EURUSD present a structure trade more than others. A daily chart sell zone of 1.1641-1.1522 provide a great shorting opportunity for trend trading traders.
Even a break and close below, the key resistance level is held at 1.1686 for a final shorting opportunity as a trend trading opportunity.
If you see GBPUSD is on a bullish run, then you have to look at its daily chart. From what it shows it is full of shorting opportunities up till this point.
The red box denotes a sell zone and the bearish trendline still hold(the red line).
EURUSD is on a Bearish Trend, if you are looking for an aggressive shorting opportunity, you can wait for an engagement opportunity within the sell zone within with supply level at 1.1610-1.1589.
Another shorting opportunity will be within the Bearish Channel as long as it didn't break and close above the upper channel.
EUR depreciating after a year and a half of staying within the same range, the fundamentals and technicals both point downward for the time being.
Disclaimer: This is a risky and long-term holding position, you can stay in the red for months before getting in profit, however if you have discretionary skills and get in at the right time, you might be able to make...
A Bearish Bat setup within sell zone within both the M15 chart and 1-hourly chart.
As this is a trend trading setup, it gives the minimum stop-loss and maximum return.
This might just be the best trading setup up for the month.
On a bigger picture, GBPUSD is also on a sideway bounce setup but what it is very different from EURUSD is that GBPUSD respected the structure better than EURUSD and GBPUSD is at its Weekly Support Level.
Traders who are looking to short GBPUSD can wait for a Bearish Shark Pattern complete at 1.3790 for a shorting opportunity as a trend trading trade.
In the name of God
The current price is in the range ( blue BUY ZONE ). Several modes can be considered:
1- The price should move upwards and towards ( SELL ZONE ) after a pullback. ----- LONG
2- The price should move upwards and then downwards after a pullback. Simply put, a volatile market.
3- The price should move downwards and towards ( purple BUY ZONE...
As illustrated I am waiting for retest of the 50% retracement level on the fibonacci taken from swing high to swing low. If the level holds, DXY is crashing. Will update as time goes on, stay tuned!
Based on the chart movement price reached to a resistance area and also it reach to the top of the downward channel.
So the scenarios are:
1. Reaching price to the top of the downward channel.
2. Price rejections (starts happening from 6th of September)
3. The price reach to the 0.618 Fibonacci of the previous wave
4. Hidden divergence on RSI(14)
Based on the chart and whatever happened during the last week, there is a strong bearish possibility for BTCUSDT in the following days.
AS it specified on the chart, I have 4 reasons for have a bearish movement:
1. Strong daily bearish candle
2. Reaching to the top of a downward channel (It would be valid till the price remains in channel)
Based on the chart we can have a good sell opportunity for AUDUSD.
The scenario for selling is:
1. Downward trend
2. Breaking the rising wedge
3. Strong bearish Candle
4. Strong resistance area at the top
Note: As always please take risk management rules into consideration before opening any position on the market.