eurusd may be near the bottom. I'm long from 1.1125 on the previous Fibonacci level. I expect a bullish movement without too much force. First resistance at 1,124 1,1273 and finally very interesting 1,1323. If confirmed, the upside will have strength until May 9-14.
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The bears did not win and in the afternoon the EurUsd gear returned to its initial levels, drawing a beautiful dragonfly doji. The lower shadow is outside the Bollinger bottom band and this is a good confirmation of a possible inversion. If Monday's daily closure will be higher than the 1,1295 zone (where we also have the resistance of the MM7), the trend will...
Friday closed on the lows and below the lows of the previous day, this makes it very likely a new low in Monday's day. Monitor 1,1313 first and then 1,1293 which coincides with a double minimum and Pivot support. A rebound could bring the change back to testing the 1.1346 area
After the January doji, the February candle is very important for the trend of the next few months. A bullish candle with a close above the 1.153 zone could be a good medium / long term bullish signal.
Andrew's fork has been respected for now, the change has moved away from the base starting to give signs of strength also on the indicator. In a bullish phase, and...
After finding a support on the previous Fibonacci level it continued to fall.
Will it go now to test the next support and then to score a minimum?
The descent is fast and does not seem to want to stop. Cyclically we should mark the minimum in the coming weeks.
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EURUSD closes the week above the daily mm7 and above the weekly mm7.
The oscillator is bullish on the weekly chart and on the daily chart.
On the upside, the resistances are:
1,1444 : Fibonacci 0,382
1,1515 : Fibonacci 0,5
1,1586 : Fibonacci 0,618
1,1673 : Fibonacci 0,764
If it continues to rise, these are the levels to be monitored in the next 15 days.
Are we at the bottom of the dollar's climb? I think the answer will not come late.
On the monthly chart the most important support is in area 1,118 near Fibonacci 0.618. This is a very important area.
At this time the daily and weekly MM7 are higher and until they are exceeded they are an important resistance.
Daily chart marks weakness, the first support is in...