ALL SIGNS SHOW A VERY STRONG SHORT COMING IN TO PLAY. ANALYSIS IS AS ON CHARTS:
20MA TURNED FOR THE DOWNSIDE... EVERY TIME THIS HAS HAPPENED HISTORICALLY, THERE HAS BEEN A BIG MOVE FOR THE DOWNSIDE.
PRICE HAS BROKEN OUT OF THE LONG TERM UPWARD CHANNEL FORMING BEARISH PRICE ACTION...
LOWER TF SHOWS A DESCENDING TRIANGLE FORMING (ALSO A BEARISH CHART...
addition to my previous analysis posted on this pair earlier.
price has now reached the top of my trend line, I will be keeping a close eye on how the daily candle closes if price breaks out to the upside my bias will be long for the pair.
the current daily candle is looking very bullish however patience is key and will be awaiting for the close to assess my...
previous analysis posted was on the monthly tf which showed major support and a bounce of the monthly trendline,
I have know turned to lower tf i.e. 4hr to look for lower high bounces to scale in additional entries.
we also have a bullish ma cross which shows a change in the trend for further upside.
PRICE HEADING TOWARDS THE TOP OF THE TREND LINE RESISTANCE, WHERE WE MAY SEE WEAKNESS OF THE BULLISH MOVE UP, WHICH WILL ALSO FORM ANOTHER CONSECUTIVE LOWER HIGH.
AS PRICE REACHES AROUND 181.70 I WILL ASSESS THE PRICE ACTION TO SEE IF ANY REVERSAL CANDLES OR PATTERNS OCCURE IN ORDER FOR ME TO EXECUTE A POSITION.
as my previous analysis on us30 my stop loss was touched, however my bias was still a strong sell therefore I had entered again into this position which is currently around 200 pips profit.
DOLLAR STRENGTH MAYBE COMING TO AN END…
CHANCES OF A TREND REVERSAL AS PRICE ACTION AT MAJOR DEMAND ZONE.
THIS PAIR IS ONE TO KEEP A VERY CLOSE EYE ON…
HAVE NOT ENTERED A POSITION AS OF YET HOWEVER WILL BE POSTING ANALYSIS WHEN I DO
ANOTHER TRADE EXECUTED ON THE MONTHLY TF.
PRICE ACTION FORMING THE NEXT SWING LOW ON THE MONTHLY…. CYCLICITY IS KEY IN THIS CASE.
IF YOU ARE NOT A LONG TERM TRADER... DO CONTINUE SELLING THE PEAKS AS THE EURO HAS A LONGGGG WAY DOWN,
DO NOT TRADE AGAINST THE TREND !!!!
ANALYSIS CONSTRUCTED VIA MONTHLY TF
TREND CONTINUATION, PRICE ACTION CURRENTLY TRADING AT MAJOR SUPPORT ZONE.
NUMEROUS RESISTENT LEVELS ON THE JOURNY TO THE UPSIDE AS ILLUSTRATED IN THE ANALYSIS.
LONG TERM SWING TRADE
PORTFOLIO DIVERSIFICATION
SMALL BEARISH CHANNEL WITHIN A LARGER UPTREND CHANNEL.
THIRD CONSECUTIVE LOWER HIGH BEING FORMED CURRENTLY ON THE DAILY TF.
POSSIBLE DOWNSIDE TARGET BETWEEN 17500-17300 THEN CONTINUATION OF THE LARGER UPTREND CHANNEL.
SECOND LOWER HIGH.. PREV DAILY CANDLE IS A DOJI WHICH SHOWS INDECISION AND WEAKNESS FOR THE BULLS.
TL WHICH WAS ORIGINALLY SUPPORT IS NOW RESISTANCE.
BREAK BELOW KUMO CLOUD FOR FURTHER DOWNSIDE TO MY TARGETS. ;)
SIMPLE DOUBKE TOP CHART PATTERN FORMATION ON THE DAILY TF.
PRICE ACTION TRADING BELOW KUMO CLOUD BEARISH INDICATION.
THREE POSSIBLE TARGETS 0.70455, 0.6889, 0.6686
