RCtrader2

RCtrader2 Updated 

I believe the pair have given us an opportunity to go short and so make some cash out of that. SL 1.3159, see TPs on the chart. End date: 27th of January, 2020.

RCtrader2 Updated 

There is a 'head and shoulders' pattern that was sketched on the H4/daily chart. That might push the price lower to values below 1.1040.

RCtrader2 Updated 

One could spot a descending triangle on the GBPUSD chart, now that the week is finished. The alignment of the candles on the H4 or daily chart sets out the premises for a bear run to 1.2820, the previous support, and possibly more later on.

RCtrader2 Updated 

There is a three drives pattern that could materialize on the eurusd chart. For that to happen, the price has to stay within the uptrend channel and hit the third high. Having accomplished that, the price action will be sent into a bear run to values below 1.1100.

RCtrader2 Updated 

Based on the ordering of the 4h chart candles, we can presume by looking at it that there is an imperfect bullish harmonic pattern. This outcome has led already to a first spike last Friday and sends the message that additional bullish runs are possible.

RCtrader2 Updated 

The dxy made a lower high and gives signs of going bearish. A reason to have major pairs go bullish. The chart was made to be used during the week of January 13th - 17th.

RCtrader2 Updated 

The pair made a rather wide retracement from its December 2019 high. It almost reached a 0.5 on the Fibo measurement tool and so has given bears green pips. But does not exhibit conclusively that the bullish trend that developed in December finished.

RCtrader2 Updated 

The pair made a near double top on the H4 chart at 1.1188. That brought the price close to the upper limit of the downtrend channel on the weekly chart once again. It gives, therefore, a safe chance to go short with SL at 1.1205.

RCtrader2 Updated 

The bearish shark on the 4h chart should push the price lower. The upper limit of the downtrend channel might give a safe opportunity to go short. I wish you all Merry Christmas and a Happy New Year.

RCtrader2 Updated 

Here is once again the Gann Fan on H2 and a projection of the price movement starting 16th of December. My opinion is that the price could develop the H&S'es right shoulder and push the price under 1.1100.

RCtrader2 Updated 

The price made 12 pips upwards and looks like it wants to reverse. It's Monday after all. The Gann Fan at H2 depicts the price under the mid-line which means that it might hover for the next 2-3 days in a 50-70 pips range or continue moving downwards.

RCtrader2 Updated 

The 4h chart exhibits an imperfect bearish shark that could give us between 100 and 150 pips upwards up to 1.1200 in the next 5-10 trading days. And more than 200 hundred pips on the way down. The price is somewhere in the mid of the downtrend channel on the weekly chart. It's been declining gradually in the past months and will possibly continue doing that down...

RCtrader2 Updated 

25/July is the day when the ECB releases interest rate decision, it will probably dip the price to 1.1100 which is the 3rd weekly support and a key fibo extension. The move will cause a pullback to the previous fibo extension and have it rather flat tomorrow. Next week, the price could either extend the pullback or move back down and cross this week low.

RCtrader2 Updated 

The pair has an interesting downwards channel on the weekly chart. It might reach 1.04 by the end of the year 2020. The s/r lines can be used as buy/sell opportunities.

RCtrader2 Updated 

Here is a daily fibonnaci chart that can be used to make entries for longs and risky shorts as long as the price is directed to 1.1820 in the long term.

RCtrader2 Updated 

It feels that the dollar is losing steam and the three drives pattern could push the price back into the 1.15x area. Trading Plan: Long, entry 1.1320-1.1370, TP1: 1.1405, TP2: 1.1470, TP3: 1.1520 Short (high risk), entry 1.1400-1.1420, TP: 1.1378

RCtrader2

I added some key trendlines I believe have to be considered while trading the pair. I cannot state for certain where will the price move, but if it crosses the orange dashed line on the way up and then makes a U-turn, it might be a strong signal to sell.

RCtrader2 Updated 

An uptrend channel developed on the 4h chart that can be used for successful entries for either longs or shorts. Main horizontal resistances are in the ~1.2890 area and the ~1.3040 area respectively.