🔵The double top and double bottom are a pattern that can be used to find a counter-trend trading opportunity. This pattern can also be used as an entry technique in the markets. When this pattern is seen, the market is signaling to traders that a particular level of structure is important because price action is refusing to break and close above or below it.
EURUSD / 1D
Hello traders, welcome back to another market breakdown.
EURUSD has been trading in a down trend. However, the price is pulling back right now. One of the most less risky strategies is to follow the trend shorting rallies in a down trend.
Checkout the chart for what I'm waiting for.
EURUSD broke the 0.98320 resistance level, now eurusd currently trading above strong resistance line. As I see it, buying pressure is weak, maybe EURUSD can fall above this level. If EURUSD can't get support at 0.98320, continue to 0.95 level.
Last week, EurUsd dropped and made a low just above 0.95. After this drop, the pair reversed and has risen back above 0.99 support.
At this moment a bottom can be in place and EurUsd can rise back above parity.
Dips around 0.9850-0.99 should be bought and the target can be 1.03 old support, now resistance
Hello traders ,what do you think about EURUSD ?It seems that this pair is ready to fall after reaching the resistance range and the downtrend line.
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The market moved higher and currently it is testing the major resistance near 1.0000. I think if the price forms a fake break near global trendline and resistance then it may go down to test support level because overall trend is bearish . I expect fall from major resistance zone. My goal is support level at 0.98270.
Traders, if you liked this idea or if you have...
Yesterday, EURUSD reached the parity level again.
That means, we could possibly see continuation up in the next few days.
Right now we won't trade EURUSD as current price levels are not good for entries.
We are still in a downtrend on the Daily chart and the best opportunities will be once the market goes back to the downside!
EUR/USD rose 0.4% ahead of the release of euro zone producer price data. Those indicators are expected to remain high, adding pressure on the European Central Bank, which will continue to raise interest rates significantly at the end of the month.
The main question at this point is whether the slowdown seen in the U.S. and global economies will force the Federal...
As explained Yesterday, the EUR/USD it's inside a Strong downtrend and despite the last retracements, deep ones, the price seems today to finally drop down in the direction of the main trend inside the strong bearish channel that has followed the price in the last months.
Yesterday the price is gone over the major Fibo levels but today this seems to be reabsorbed...
EUR-USD is making a bullish correction
Just as I predicted earlier
But now the pair is getting close
To the resistance cluster of the falling
And horizontal resistance levels
So after the retest a pullback
From the resistance is to be expected
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Last night EURUSD formed a new higher high at the 1.00000 level. During the Asian trading session, we see the Euro weaken and make pullback below the 61.8% Fibonacci level. Now we already see a break below, and the pair EURUSD could go down to 0.985000, at 50.0% Fibonacci. There, we could find a more concrete support zone for a new bullish impulse. Now our goal is...
Indecision in the market is changing
Towards a well defined bearish sentiment
And the price action on the lower timeframes
Is clearly supporting this narratve
Therefore, I think it is a goodidea to go short!
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BEFORE OPENING YOUR TRADE:
- Remember risk management 1-3% of your capital
- Take profit of your position partially
- Don't open too many orders at the same time
- Be patient
- Don't be so greedy
- Waiting for a candle close and executing your plan.
- Go to a lower timeframe to find Choch, Flip zone…. for entry. Remember No Choch – No Entry.
- DON’T FOLLOW...
Technical outlook for EURUSD.
Key levels & price action.
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The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.