Intraday target: 6378
Intraday target: 1.1540
Intraday target: 6260
Intraday target: 1.1540
Intraday target: 6260
EUR/USD: Weekly Gain/Loss: +0.33% Weekly Close: 1.1557 Demand zone at 1.1530-1.1550 hold the price today and push the price back to 1.1570 (daily high). Today we are looking for a long opportunity with price test of resistance at 1.1620. Today’s data points: US retail sales m/m; US Treasury currency report.
Supply and demand is a trading and price action concept that analyses how financial markets move and how buyers and sellers drive the price. On every price chart, there are certain price points where you can observe a sudden shift between the buyers and the sellers. Those areas are usually characterized by strong and immediate turning points, or an explosive...
Head and Shoulders A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (shoulder), followed by a higher peak (head), and then another lower peak (shoulder). A “neckline” is drawn by connecting the lowest points of the two troughs. The slope of this line can either be up or down. Typically, when the slope is down, it produces...