Dhothaka

Dhothaka Updated 

A pennant is forming in the pair. Possible break above the resistance would move the price higher. Keep an eye on the movement and go for a position. Possible long pending order is shown in the chart.

Dhothaka

There is a bearish rectangle forming. A break below the support will further pull the pair down. Enter the trade at the break of the support and keep SL just above the resistance. A solid TP would be the same height as the rectangle further down from the support level. If the resistance is broken before the pair comes down to the support of the rectangle, the pair...

Dhothaka Updated 

There is a strong support formed at 1.177 area with the Daily and Weekly pivot point S2s overlapping. If the pair bounce back as expected, we could see the pair move to 1.18 daily R1 or further to 1.185 R2. A daily close below this level breaking it will push the pair lower to new daily S1 or S2. The Fibs also verify these levels. Place your TP at these levels....

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The pair is testing 1.1813 (New Support) after breaking down support at 1.1881. Possible correction can be expected if the pair reverse at this support. A buy If the level is broken, we could expect further downward movement up to 1.1703.

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The dollar index is forming a triangular wedge. The $EURUSD pair will move up for a while if the dollar index bounce back into the wedge from the top trendline. Watch the movement and place your buys with tight stop loss. Overall, the pair is more bearish. However, scalping is possible while the dollar index is moving within the channels of the wedge.

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We can see that the pitchfork points us down. The top and bottom trend lines form a slight downward channel. If this continues, we will see it come to a triangle. However, when the pair retest the broken trendline as shown in the graph (sorry for my messy work), the downward trend will be confirmed if the support turns into a resistance. If else, it will...

Dhothaka

The fork shows the pair is trending down.