Not much of supports and resistances on the daily chart.. It's being driven by fundamentals and something other then technical. I wouldn't hop in it just yet. Let BTC have some growth..
The chart explains all the trendlines and retracements. The pair retraced to 50%, hence there might be a fall back. Considering the situation; I would wait for sometime to make a reasonable trade.
All the support and resistance lines are shown on the chart. I would prefer to be neutral at the moment and let the Fib extensions come in strong play. If it comes to the level I drawn on the chart; good enough. It would be a good deal. Euro has no reason to go bullish and break the psychological resistance, However weak dollar can cause volatility in the pair....
It's going to have the correction. Retracement is mandatory regardless of the monopoly.. Two Fib retracements are illustrated on the above chart. Long positions should be near $11000-$13000. This figure is the probable correction target. However at the current price; RSI shows diversion and a down momentum. Also the candlestick pattern indicates a downward move....
The Fibonacci extension is shown on the chart. It makes quite an appealing argument that after the course correction, soon in the hours to come, the pair is likely to follow bullish trend. It is also indicated by the candlestick pattern and MACD signal. Risk/Reward ratio is shown on the chart. Let's wait till price falls a little and then after retracement around...
Considering the fundamental events set in motion on the closing day of the week; The Trump executive order ; DOW 's record performance, it is evident that the American Dollar is in the strong zone hence the contrary for the Euro Usd pair. Yet it has to be time for the technical correction. Many indicators including stochastics reveal that the pair is over sold ...
The various trendlines are illuminated on the chart. The red lines and green lines are the resistances and supports, respectively. Since the pair has been on a streak and has been overbought for several days, the Fibonacci retracements , trend lines and indicators like stochastics, RSI, CCI indicate that its high time for correction. The pair most probably...
Oversold . Yet the pair has completed a Fib cycle at 161.8% retracement . It seems that after a little correction the pair might fall and continue its bearish trend. It might be up for another Fib cycle. Seems that it would go up a little for correction and then the downfall would continue. Support and resistance points are illustrated on the chart.
Following the Italian Constitutional Referendum , the pair is most likely to break the strong support level and make a new one. Market is also very volatile.The supports and resistances for the intra day trading are illustrated on the chart. The indicators like Stochastics also indicate that the pair is overbought. So the correction would be considered with the...
With the Italian Constitutional Referendum, the US rate hike, the Euro is most likely to fall from its support. The USD/JPY being parallel to US Dollar Index, the pair is most likely to rise more, after the market correction in the near future. In the coming week, I think the pair is most likely to fall 110-111 level and after that it would continue its bullish...
The sideways trade since March 2015 represents the longest period of range contraction since the inception of the euro. Even afer the US elections, the trend remains the same and expecting the Dec 16 , Rate hike by Feds, it might break the major support line which goes as deep as March 2015.
Details are on the chart..
RSI, MACD, Stoch, CCI, Trendlines and fibb retracements confirm the potential Up move for the pair.
Also in the coming days , critical data release by FOMC about USD would create speculations. Lets see ,where the fundamentals would go. As far as technicals are concerned, Gold is going Long in the coming days.
