I will keep an eye on this pair, as it might start retracing.
This is a daily chart, so if we look on the 1H chart we can still see that this pair is forming higher highs.
If will not enter any trade on this pair until I get a confirmation for reversal on lower time-frames.
This level is very critical now, I think.
It seems to double bottom here.
If this pair does not break below this support line, this is how I see the EURUSD behaving for the next days.
SL will be at 1.07000
TP will be at 1.08500 (1/2 of my position)
If the market retraced as expected, I will reopen 1/2 position long ...
This zone was a strong support previously and now it will be a resistance.
The RSI is extremely oversold. I expect this pair to retrace.
My stop loss will be slightly above 1.80000
My first target will be at 1.74000
Second target will be at 1.72000
IT LOOKS LIKE I WILL BE BEARISH ON MANY EURO PAIRS THIS WEEK.
THIS PAIR HAS BEEN PUSHING DOWN AND FINALLY BROKE SUPPORT.
NOW IT RETRACED TO PREVIOUS SUPPORT THAT BECAME RESISTANCE.
GOOD AREA NOW TO GO SHORT AND TARGET THE NEXT SUPPORT AREA SHOW ON THE CHART.
THIS PAIR FAILED TO BUILD A HIGHER HIGH. SO NOW, WE HAVE A LOWER HIGH AND A LOWER LOW.
THESE PAIRS AGAINST THE USD HAVE BEEN BOTH RALLYING UP. THE EURO MOMENTUM BECAME SLOWER THAN THE GBP.
SO CORRELATING THESE PAIRS WILL LEAD TO THE SAME ANALYSIS AS MY ANALYSIS ON THIS CHART.
I EXPECT THE EURGBP TO SLIGHTLY GO UP, ...
Retracing to the 0.618 & Reaching the trend line resistance & and the blue rectangle area is a strong support/resistance level.
I strongly believe that EUR/USD will rally down.
FOMC today didn't change, but I will be careful this Friday.
If you will sell EUR/USD, be careful for the Nonfarm Payroll this Friday, as ...
This pair could not break new lows, and retested the support without breaking it. Also there is divergence on the RSI which shows exhausted market.
My daily chart analysis is just a wide picture how i expect the market to behave in the coming week or two.
I will look at smaller time frames to enter a trade.
I will ...
I WILL NOT GET INVOLVED IN THIS TRADE YET, I WILL WAIT TILL MONDAY TO SEE WHAT WILL HAPPEN IN THIS PAIR.
I HAVE DRAWN FEW LINES, HOW I PERSONALLY FEEL THIS PAIR WILL REACT.
IT HAS ALREADY HIT A 3 WEEK LOW, IT MIGHT GET LITTLE BIT LOWER THEN RETRACE.
IF BY MONDAY THE PAIR STARTS RETRACING, I WILL GO LONG.
WE WILL ...
I HAD THIS PAIR ON MY RADAR.
THIS IS A 2618 TRADE WITH FIRST TARGET AS SHOWN.
ONCE FIRST TARGET IS REACHED WE MOVE STOPS TO BREAK EVEN AND WAIT FOR THE NEXT TARGET.
I WILL WAIT FOR A RETRACEMENT TO THE 61.8% FIB THEN I WILL GO LONG TO TARGET 1 AND 2.
STOPS AROUND 128.000.
IF TARGET 1 IS REACHED, STOPS SHOULD BE MOVED TO BREAKEVEN.
***PLEASE DO NOT COPY MY TRADES, I AM NOT A PROFESSIONAL TRADER. I MIGHT BE WRONG.