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Continuation flagEurusd is likely to end at 1.1700 area. If there is a major unclosed pivot weekly, monthly, yearly - price usually goes to close it. In our case its 2019 yearly pivot. Price never tested it and is moving to do that. Then we have to 7 more factors to support our idea 1. TD breakout projection - sends us to the same area. 2. Bullish continuation flag pole projection - sends to the same area 3. Trade weighted Euro currency index made inverted head and shoulders and is gonna trend higher 4. COT data - institutional traders added to their long positions 5. EURUSD strongly rejected several times from 2000-2020 up trendline. 6. 80 percent of retails are selling...someone is buying from all of them) 7. Price broke yearly pivot (and 2019 average price level - this year they coincided) and did a nice retest as it should. I can be wrong of course. Nothing is sure in this game) THIS IS NOT A FINANCIAL ADVISE. Trade weighted EURO currency index (you can see it broke downtrend and formed inverted head and shoulders) is available here for free www.ecb.europa.eu
Long
by ICFX
EUR/USD is Expecting a Correction.Hey, I am back with another Technical analysis this time Looking at EUR/USD pair. EUR/USD has seen a very strong rise, from 1,17100 to to almost 1.12 in a week but haven't seen a correction yet. The daily chart is showing a Regular bearish divergence. And the 15 min chart is barely holding on the support level, Although I like the RSI which finding support at 40. How to play this? I am in short since 1.19501, you can also try to short somewhere at 1.19380, and TP at 1.18920 , risk reward 3:1 is very easily achievable here, hopefully with this information you can calculate the Stop loss yourself. And that's it from me, don't forget to like this idea if you agree that E/U is a short. Cheers, Tibor
Short
by TiborVrbovsky
2
EUR/USD - Another Long?Hey, I am back with another Forex idea, this time looking at EUR/USD pair. So my last Technical analysis was on EU again, on point, so don't forget to follow me in order not to miss out on such good opportunities, . And this time, I still don't see a reason to short EUR/USD as DXY is very weak, and EXY is pretty strong. Also there is no technical side of the chart, that is showing some bear signs, so once again, long EU. The preferred entry is 1.17100 - 1.17160 ( I am in since 1.17100) TP 1 1.17400 - 1.17450 (25 pips) TP 2 1.17640 - 1.17700 (48 pips) Good luck with your trading!
Long
by TiborVrbovsky
15M EU 50% RETRACEMENT ENTRYDue to the Monthly TF Line in the Sand analysis I will be looking for Bearish entries above the line and Bullish entries below. The 50% retracement strategy that I use is a very simple construct that can be applied on any time frame. It is in fact the reason for the line in sand based on the Monthly time frames most recent swing high/low. This 15m example demonstrates the placement of the Entry, Stop and initial target of this system. Setting the initial target at 1-2 (Risk to reward) allows me to become risk free in the most efficient way possible. Once the 1-2rr target is met I will close 50% of my position and move my stop loss to the entry line. This action will secure profits equal to the amount risked and allow the remaining 50% of the position to potentially continue to Target two at 1-4rr. Should Price return to stop out the position I will still have secured a 1-1 Risk to reward ratio.
Short
by Cryptsyxalt