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EU

eur/usd BULLISH 8hr harmonic M Classic M pattern on eu. Although it looks like a H&S on a larger time frame. i believe it has found support. on a fundamental side, i dont believe this nfp week will be good. employment isnt where it needs to be, biden has rejected the GOP $618B stimulus package. Democrats are taking their first votes Tuesday toward passing a $1.9 trillion coronavirus bill, potentially without Republican support. President Joe Biden met with GOP senators, who are offering a roughly $600 billion proposal. (we know he declined it) The budget resolution Democrats put forward would allow them to pass stimulus checks, unemployment benefits, vaccine distribution funds, and state and local government aid. - via CNBC
by SlattYSL
2
EURUSD UPLet me start by saying I'm not a financial expert, I mostly publish these things for myself, and to see if anyone else can see what I'm seeing. This is what I feel will happen, what the market is showing me. Also I have a long history of losing money to EURUSD so take that for what it is worth. Technical Looking back price ranged from about July to November before going up. Strong bullish movement occurred, with little consolidation. Price dropped to an area of support. The D TF has a COW formation, it is a reversal pattern, every candle is different like spots on a cow, at least that is how I've come to know it. Fundamentals I am looking for aggressive bullish movement on Monday, as we have news events that should impact the EURO positively. I am bearish on USD Knowing all of this, I'm looking for price to break this trendline, continue upwards to face the resistance of the previous high created, and eventually continue up to 1.25 to test those highs created in 2018 Simple right? We shall see. I'm already in a trade, I'm looking to close a quarter of the position if price breaks past 1.23447 Personally, I feel it is going to be a great wk to trade the forex market. Lets hope we can all secure some bags, and if you see the same thing as I do let me know, also if you feel like price is going down, let me know that as well.
Long
by SSJNat
1
EUR/USD - Downside Continuation!! - Price is currently getting squeezed between my moving averages. - Top side trend was respected and fell from that level - Trend line plotted from lows also shows a break in trend. - Price formed a head and shoulders pattern that broke out to the downside today. - Price has retraced back into the 50 - 61.8% retracement level of todays range. - Looking for the large wicks at the on the recent 4H candles to get filled to start the momentum to the downside.
Short
by TheCaffeinatedTrader
2
Selling Eur/Usd - Target @ 1.195- The trend line is the monthly downtrend that was broken at the end of July, 2020. Price moved nearly 750 pips from that point. - Price reached the monthly resistance and has since corrected back from that zone. - Moving averages have crossed signalling trend change. - Price has created a new lower high last week and a new low earlier this week also signalling trend change. - Price has retraced back to retest the previous lows at the 50% - 61.8% retracement zone, which also had significant reactions twice back in December. - The retest is also testing the neckline of a sloppy head and shoulders pattern that did break out for a nice leg down. - Target will be in the 50% - 61.8% retracement zone from the leg up off the monthly trend line break to the monthly resistance zone.
Short
by TheCaffeinatedTrader
2