We all know that this pair has the best movements when it comes to scalping and short moves big profit thing.
We have got a break out to cover here. This support and resistance indicator that we will get a nice trade on this pair
18th Feb - (p=227,355/l=282,215)
This pair is running a circus with tension on reversing. We have formed trendlines channels and I expect yet another to be formed inorder for a new uptrend to officially emerg. Previous trend continuation price action has been a failure however if we break low we are going to have a good downtrend.
this is a decisional point for this pair and its either up or down. Sideways market is not allowed due to the point that the market is trending and it has been consistently covering pips. This zone has less support and resistance and we do note expect any to be formed right now
Gold is mostly aways from ranging and channels and thats why its the sweet spot. However, Gold is either an Obedient dog or a ratchet one. Finding sweet spots for the pair is the Key because it obeys them.
Over here we have 3 trades based on Trends and SR lines. A broken triangle gives us a bullish but failure to the trade, we take a short on trendline break with...
History does repeat itself and at this instance its not too long ago we saw this movement on the pair.
A triangle, breakout, correction move and a final down move followed by Fibonacci retracement.
I dont go against the trend so lets remain bearish and watch this pair. Breaking down would definatelly have me selling
We've hit a remarkable low on EURUSD and I expect this to be backed by a retracement of 50% to 61.8%
The entry is long but the trade bias remains short as the Downtrend is not completed yet.
All the best
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My analysis is based on SRTF(Support, Resistance, TrendLine and Fibonacci)
Take a close look at the trends, Even though we have a higher high, 61.8% level is broken and we are moving bearish.
Wish you the best
We broke the channel and moving on a trend that is strongly targeting the support line.
This move is likely to be followed by a fibonacci retracement before continuing down.
My bias remains short in the long term
Theres been a trend on this pair for quite some time so far, the 168% fib level being a target for a previous retracement. This candle close might be a long opportunity.
It will give us a tight stop and very nice profits