✨ NEW: EURUSD ✨ Counter-Trend Swing ✨
Updated
SLO @ 1.1050 ⏳
TP1 @ 1.0890
TP2 @ 1.0800
BLO1 @ 1.0775 ⏳ (aggressive)
BLO2 @ 1.0750 ⏳ (conservative)
TECHNICAL ANALYSIS:
The EUR/USD pair has been in a bullish trend since early June, breaking above the 1.0800 Resistance Level.
On the other hand, the EURUSD pair is coming into the Supply Range from ~1.1015 up to ~1.1055 (16H). If this level is NOT broken and holds, then I'm anticipating this pair could see a downtrend retracement.
As far as Support, I don't see anything major until price reaches 1.0792 and/or Demand @ 1.0772 (16H).
Overall, the technical analysis for the EURUSD pair is BULLISH, but we also need to be prepared for some potential risks to the upside — supply and resistance — and hopefully capitalize off of these levels.
KEY TECHNICAL INDICATORS:
— Moving Averages:
The 20-day simple moving average (SMA) and the 100-day SMA are both sloping upwards, which suggests that the trend is bullish.
— Relative Strength Index (RSI):
The RSI is currently in the overbought zone, which suggests that the pair could see a pullback.
— Bollinger Bands:
The Bollinger bands are currently expanding, which suggests that volatility is increasing.
Overall, the technical analysis for the EUR/USD pair is bullish in the near term, but there are some potential risks to the upside. Traders should monitor the pair closely for signs of a pullback.
Fundamental Factors (Near Term):
(1) USD: FOMC Member Waller Speaks
(2) USD: Unemployment Claims
(3) USD: Fed Chair Powell Testifies
(4) USD: Existing Home Sales
(5) EUR: ECB President Lagarde Speaks
"Manage your position, monitor the price, and you'll make some profit!"
— Professor Cornelius Ward
TP1 @ 1.0890
TP2 @ 1.0800
BLO1 @ 1.0775 ⏳ (aggressive)
BLO2 @ 1.0750 ⏳ (conservative)
TECHNICAL ANALYSIS:
The EUR/USD pair has been in a bullish trend since early June, breaking above the 1.0800 Resistance Level.
On the other hand, the EURUSD pair is coming into the Supply Range from ~1.1015 up to ~1.1055 (16H). If this level is NOT broken and holds, then I'm anticipating this pair could see a downtrend retracement.
As far as Support, I don't see anything major until price reaches 1.0792 and/or Demand @ 1.0772 (16H).
Overall, the technical analysis for the EURUSD pair is BULLISH, but we also need to be prepared for some potential risks to the upside — supply and resistance — and hopefully capitalize off of these levels.
KEY TECHNICAL INDICATORS:
— Moving Averages:
The 20-day simple moving average (SMA) and the 100-day SMA are both sloping upwards, which suggests that the trend is bullish.
— Relative Strength Index (RSI):
The RSI is currently in the overbought zone, which suggests that the pair could see a pullback.
— Bollinger Bands:
The Bollinger bands are currently expanding, which suggests that volatility is increasing.
Overall, the technical analysis for the EUR/USD pair is bullish in the near term, but there are some potential risks to the upside. Traders should monitor the pair closely for signs of a pullback.
Fundamental Factors (Near Term):
(1) USD: FOMC Member Waller Speaks
(2) USD: Unemployment Claims
(3) USD: Fed Chair Powell Testifies
(4) USD: Existing Home Sales
(5) EUR: ECB President Lagarde Speaks
"Manage your position, monitor the price, and you'll make some profit!"
— Professor Cornelius Ward
Note
Next stop for Price Action appears to be Resistance @ 1.0950 (2H)Trade closed: stop reached
🤑 BLO @ 1.0800 to TP @ 1.1050 for a profit of +250 pips🚫 SLO @ 1.1050 up to -SL @ 1.1085 for a loss of -35 pips
💰 GROSS PROFIT = +215 pips
Note
⚠️ Just so you know: BASED ON THE BIG PICTURE CURVE ANALYSIS, I'm expecting Price Action (PA) to continue its UT until it reaches the Major Resistance Level @ 1.1280 (3D). From there, I believe it will retrace down to the next Major Support Level @ 1.0750 — which is where I plan on entering another BLO.
Professor C. E. Ward
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