For the past few months EUR/USD is in a ranging Market.
On weekly basis the price has stopped at major support level. There is a Doji candlestick formation on Weekly and Daily time frame. So my suggestion is as follows:
Buy at current price around 1.0600
Stop Loss: 20 pips below 1.0500
Profit Target: 1.1400
The Price has broken major resistance level and closed above it.
On Daily chart there is a Bullish Divergence. So it's time for correction.
Stop Loss: 1.7380
Break Even: 1.7820
This currency pair has been correcting for a very long time and now showing signs of exhaustion:
Significant Support Area
Trend Line Support
200 Weekly MA
MACD is loosing momentum also there is bullish divergence. Inverted hammer on weekly chart. Approaching the 200 Weekly MA and trend line support. So my suggestion is entry around ...
For the past 2 weeks we've seen the price of GBP/NZD retrace to 61.8% level.
But the price still keeps making Higher Highs and Lower Lows. MACD turns up.
This is Bullish Crown Formation for turning the mid term from bearish to bullish (resuming to the bullish long term).
Now is the perfect moment to get in a Trade.
Buy: at 2.2900 (61.8% fib retracement ...
Entry at 9450.00 level:
1)Trend Line test
Stop Loss: 9072 - below the weekly low
Target: 12380 - Previous Swing High
I will be waiting for confirmation at the end of the week to see how it will end. In order to avoid the high volatility at the end of the week: after the NFP.
Good Risk/Reward ratio.
Good Luck to Everybody.
Reasons for Trade:
1) Price is still above the Moving Averages
2) Price is still making Higher Lows
3) MACD crossed the Signal Line
4) Remembered Line is significant support at the 1.5540-60 levels (there was a strong break of this level and now a retest and a few days of consolidation)
5) Price found the 55 Day MA as support level also
6) Trend Line angle 30 ...
I would anticipate a retest of the 1.5800 level next week and go Long with initial Stop Loss at 1.5700.
The 50 MA has crossed the 100 MA (Golden Cross formation).
From the MACD is clear that we have strong bullish momentum (the signal line is leading the histogram).
First Target is 1.6080 which is also the Missed Yearly Pivot Point.
Now the pair is in trending ...
There are two possible scenarios:
1. Go back and retest the trend line breakout and the August Monthly pivot around 1.6970 after that continue down to the second missed monthly pivot and the yearly pivot 1.6000.
2. Break below the lows and second entry at 1.6800.
On Daily basis, we have "Head and Shoulders" pattern, Remembered line at 1.8000. So we can establish short position on a break out of this area and get on wave 4 (from the related idea).
Sell at 1.8000
Stop Loss at 1.8400 (above previous high)
Take Profit at 1.7500