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EURUSD: Heading towards critical resistance areaEURUSD is heading for 1.1290-1300 area where multiple technical resistance indications are gathered as seen in the chart. We believe that the breakout from this area without prior retracement is difficult so we will test this assumption with Sell orders at 1.1295, setting the stops above 1.1330. Our initial target will be 1.1260. If a retracement occur before 1.1280 towards 1.1250-55 we will try Buy orders targeting the 1.1290-00 area, setting the stops below today's lows
Short
by Chartist-Trading
EURUSD: Waiting for the 1.1340 breakout to enter longEURUSD has already tested the bottom of the daily channel that you can see in the chart below showing the initial signs of reversal and now the top of the hourly channel at the 1.1335-40 area is going to be tested. We have already bought small positions in order to test our upside scenario and we are going to add more with an hourly break of the 1.1340. We will set the stops below the candle that will lead to the breakout targeting initially 1.1380-85.
Long
by Chartist-Trading
Update on the movement of EURUSDHello traders, our trade is going on as planned, however with the current outlook on the EURUSD, it seems a double top is forming on the H4 TF (more visible on the H1 and H2 TF). This could mean buyers should be cautious or lock in some pips on the long trade. The 1.16400 is an important price to be monitored. If bulls are unable to push below this price, then we can hold on to our long position. However if bears should break below this price to the neckline found between 1.1626 and 1.1617 zone, then it is a confirmation that a reversal has commenced on H4 and price will shoot further down. for now, we still hold our long position, but lock in some profit and be on alert. Remember we are also expecting high impact news on Thursday and Friday. I believe the outcome of this news will greatly impact the next direction of the Fiber. your contributions are welcome. You can also follow me on trading view, twitter, medium and Youtube to get more update on EURUSD and other pairs.
Long
by babasholajoshua
quick day trading long position on EURUSDHello, traders! Based on our EURUSD lookout, I emphasize that a double top formation formed on the weekly TF in which the neckline was broken. Right now, the price is heading to the neckline (around 1.17) for a retest (where we took our short-term long trade). Looking at the D1 and H4 TF, it seems the price is retesting the median line and the broken short-term resistance before it continues to the upside. It should also be noted that bears manage to find resistance at 1.16686. However, with the strong bullish momentum, this zone can be broken. With this situation, another short-term long position can be open with a good RR. An entry (buy limit) at 1.16331, with SL placed around 1.16085 and TP around 1.17100. The RR is 1:3.68. We are taking risk with tight SL, making the risk less risky. If you like my analysis, you can follow me and feel free to add your thought or opinion. You can also ask any question. Disclaimer : Trading forex involves high risk, and is not suitable for all investors. Before deciding to trade forex, you should consider your investment objectives, level of experience, and risk appetite. The author is not liable for any loss of investment or capital during trading.
Long
by babasholajoshua
USDJPY is testing its upward channel for once moreUSDJPY is testing for once more the top of its rising upward channel. Besides of the channel the pair is testing multi highs at the 114.35-65 area where we believe that sellers would emerge aggressively. We have opened SELL positions at 114.35 preparing to add more on any new upside towards the 114.55-65 area. We will set our stops above 115.20 for 113.20 target. We will come back with updates... Below you can see the weekly chart of the pair. RSI is testing also its previous highs that have led to corrections...
Short
by Chartist-Trading
2
AUDUSD: Testing critical resistance at 0.7350-60 areaAUDUSD is testing critical resistance at the 0.7350-60 area. Besides the hourly readings that we see in the chart, the pair is also testing the basic down trendline that we can see in the Daily attached chart (yellow trendline in the hourly. The move will find us sellers at current levels adding more at 0.7360. We'll set our stops above 0.7385 targeting 0.7315 and 0.7290 initially... We will update if needed... Daily chart follows
Short
by Chartist-Trading
1