EURUSD is approaching our first support at 1.1717 (horizontal swing low support, 100% Fibonacci extension, 38.2% Fibonacci retracement) where it might potentially rise to our first resistance at 1.1999 (horizontal swing high resistance, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also bouncing off our support, a good precursor for a potential rise in price.
Euro to take-off at 1.16745 level and goes to a wild harmonic pattern flight path. Then will unleashed a bomb at 1.25384 level. And with that attack, will bring Euro back to a flat at 1.06423 level as final target.
This is a long-term opportunity. We still see the EURUSD trades at 1.28 - 1.30 by the end of 2018.
At the moment, we are seeing how our pair continues the downward movement and reached a new level of resistance. The daily chart clearly shows that the pair has already slowed down near the level of 1.1735 and is now close this level. However, we expect that the 3rd wave may be stronger than the first and the pair will not stay too long at this mark. Therefore, we...
Buy Area - 1.17100/1.17500 Stop Loss - 1.16830 Take Profit - 1.22250
Hey guys, As you can see in my chart, the level of interest 1.2420, according to MP, has been heavily broken by bears. This can suggest that EUR/USD bears are in control and going to push it downwards. Inversely, USD/CHF should benefit from EUR weakness and go north. The trend line you see is from the ZIGZAG indicator and is not a trend line I have added...
Euro still haven't reached the cellar. Has to go down before going up. This time it is making a patern for the support. Still strong pressure for euro, so sell it at the resistance.
Daily chart, still looking for a good correction on the EURUSD. 1.17x got rejected, RSI oversold. Might retrace to the 1.2x level with big resistance. Good sell opportunity. Small lot for a buy position but also remember ''dont catch a falling knife''.
Since our last article, our price has been adjusted to the next level of resistance. However, at the moment it is trying to gain a foothold below and the second candle being under our level proves it. Our technical indicators also points out the resumption of the downward movement. Now on the 4-hour chart we observe that the quotation crosses the middle strip of...
Sell below 1.1991. Stop loss 1.2066. Take profit at 1.1829. Reason for the trading strategy (technically): EURUSD reversed nicely off its resistance at 1.1991 (23.6% Fibonacci retracement, 23.6% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) where we look to sell on strength. We expect prices to fall to its support at 1.1829...
Could form a double bottom at support before retracing to 38.2 where shorts will ensue
Revision from previous wave analysis posted earlier.