Tested 1.2970 several times. struggled to remain above 1.3080 and eventually above 1.3120. taking the view that price should find supporters to keep it above 1.3080. Bought at the lows of 1.3000, scaled from 1.3038 to 1.3065.
Assuming price is going to stuck within the last down swing from 1.3500 to 1.2960. I am looking at some move from current support level to above 1.3100, probably testing near highs of 1.3200 within this week. If price breaks point D, then it's likely a resume of the downtrend.
Taking 0.8818 as bottom price, this stock presents buy opportunities. Decide how much of your portfolio you would add this stock. Plan your buying capital and start accumulating in buy zone 1, not exceeding 50% of your plan. Another 35% could be use when price is in buy zone 2. The average price should be lower than 1.13 (high of zone 1)
Start capitalizing when...
After Wednesday's up move, price stuck in a 40 pips range for 2 days. Friday, price did close near the high of the day. This likely set the stage for next week.
Managed to build entries around 1.1240+, carried it over weekend as I still hold the view that EUR should move towards 1.1300, 1.1400.
As price moves into the green zone, I would...
Lots of negatives for the Euro zone, last week price has tested 1.1270 several times, Friday closed with a nice pin bar. A nice clear of 1.1315 should presents opportunities towards 1.1370. From a bigger picture, EURUSD created a nice up flow from 12th Nov to 10 Jan this year, and has corrected with an ABCD pattern (provided 1.1270 is the D point).
2019 is starting, will EURUSD hold above 1.1400 and breaks above 1.1500?
There is strong likelihood that it might. Price has been consolidating between 1.1300 and 1.1400 since the drop on 30th Oct. And we see a new range began since 18th Dec. We would continue to look for long opportunities until otherwise.