The EURUSD short term wave structure is getting quite clear as each trading session passes. The pair has inched higher and hit 1.1700 levels yesterday before slight pullback. Going forward, bulls could be expected to remain in control and a safe trading strategy could be to buy on dips. We just want to highlight the alternate wave count/structure, if Wave B is...
Sell below 1.8256. Stop loss 1.8320. Take profit at 1.8172. Reason for the trading strategy (technically): GBPAUD is approaching its resistance at 1.8256 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.8172 (61.8% Fibonacci retracement, horizontal pullback support)....
EURUSD Bearish Analysis. Awaiting a confirmed breakout of the ascending trend-line and supportive zone before assuming a position. Details on the chart. Happy Trading!
Sell the Euro for the last dip creating a flag pattern.
EURUSD hourly chart story still suggesting that Wave B could be still unfolding as a more complex corrective structure. Ideally, there is still room for a drop lower towards 1.1470 levels, until prices stay below 1.1660/70 levels as discussed yesterday. The current consolidation could be unfolding as a flat or a potential triangle within the overall zigzag drop...
The Tidal Shift Strategy has just bought EURUSD at 1.1638. The system recommends entering this trade at any price between 1.16215 and 1.16545. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.68557, which suggests that the EURUSD could be trending upwards.The 14-period...
EURUSD is approaching its resistance at 1.1656 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.1567(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding...
Sell below 1.1656. Stop loss 1.1694. Take profit at 1.1567. Reason for the trading strategy (technically): EURUSD is approaching its resistance at 1.1656 (100% & 61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.1567(61.8% Fibonacci extension, 61.8% Fibonacci...
The EURUSD hourly chart continues to take its own time to confirm a potential bottom in place at 1.1526 or lower? Corrective waves are mostly trick and they can have tendencies to produce complex structures. Looking at the most probable wave count depicted here, it seems Wave B is still probably unfolding into a zigzag a-b-c structure. Furthermore, it could be...
The US Dollar Index short term story continues to inspire a potential bearish reversal. We can safely assume that the index has either formed a potential top at 95.70 levels or it could test 96.00 levels before resuming lower again. A consistent push below 94.80 levels could indicate that a meaningful top is in place at 95.70 levels. In either case, it is safe to...
The EURUSD hourly chart is suggesting that the currency remains a potential buy on dips. It remains to be seen whether 1.1526 is able to act as a bottom/support for the next leg up or a more complex correction is unfolding. If the latter scenario unfolds, we could see yet another drop lower in a flash, towards 1.1470 levels before the rally could resume. In either...
FXCM PLUS Trading Signals The Breakout Opportunities system has just bought EURUSD at 1.15918. The system recommends entering this trade at any price between 1.15755 and 1.16099. The signal was issued because the EURUSD has broken its 24-hour high while our Speculative Sentiment Index was at -1.3991, suggesting that the EURUSD may have further to rise. A stop...
EURUSD is approaching our first support at 1.1528 (horizontal overlap support, 50% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce m might occur above this level pushing price up to our major resistance at 1.1653 (horizontal overlap resistance, 61.8%, 100% Fibonacci extension, 78.6% Fibonacci retracement). RSI (89) is also approaching...
The Inverse Head and Shoulders scenario came to fruition as after EURUSD got rejected at 1.17310, it reversed, tested and crossed the 1.15531 Rectangle's support. After it makes a Lower High near 1.1590, the 4H Channel Down (RSI = 43.992, Highs/Lows = -0.0012) will aim at the 1.1510 1D support. If crossed then we should be looking at a first quick 1D gap fill to...