Short

Short EURUSD To Around $0.99

Updated

An analysis of a variety of time frames ranging from the daily to the monthly month time frame suggests that the EURUSD price will continue to be observed in a down trending environment, which started June, 2021. In July, 2022, the EURUSD price may find support around 0.99xxx and resistance around 1.03xxx.

In the daily time frame, the EURUSD may continue to fall to around 1.00xxx or 1.01xxx before turning up around July 12.

This is not financial advice. I am not your financial advisor. This is my opinion.

Note

In the 3 hour time frame, the EURUSD may continue to fall until the Phoenix Ascending (PA) indicators (bottom panel; red, green, and blue lines, grey energy/momentum) reach their cycle bottom around July 6.

Note

EURUSD in the weekly time frame.

Note

EURUSD in the monthly time frame.

Note

The price continues to move toward the take profit target although the Energy (momentum indicator) is dissipating.

Note

This is what I expect to happen after trading resumes Sunday at 3 pm (CST).

Not financial advice.

Trade closed: target reached

This took a little longer to reach the take profit target but, overall, it was a nice profitable trade. Profit taken at $0.99604. Trade closed.

Eightchains

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.