Previous EURUSD idea is now invalidated. Look for price to make one more high. From there I will update my analysis.
If you haven't been shorting EURUSD and GBPUSD then you've missed two very simple channels. EURUSD still remains very bearish. I will be looking at GBPUSD again ahead of the BOE rate decision on the 10th May.
Buy above 1.1932. Stop loss 1.1821. Take profit 1.2172. Reason for trading strategy: EURUSD bounced nicely off its support at 1.1932 (76.4% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.2172 (100% Fibonacci extension, 50% Fibonacci retracement, 38.2% Fibonacci retracement,...
EURUSD bounced nicely off its support at 1.1938 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) where price could potentially rise to its resistance at 1.2157 (50% Fibonacci retracement, 38.2% Fibonacci retracement, horizontal pullback resistance). We do have to be cautious of the intermediate resistance at 1.2064 (61.8%...
Buy above 1.1938. Stop loss at 1.1828. Take profit at 1.2157. Reason for the trading strategy (technically): EURUSD bounced nicely off its support at 1.1938 (61.8% Fibonacci retracement, 76.4% Fibonacci retracement, horizontal overlap support) where we expect prices to rise to its resistance at 1.2157 (50% Fibonacci retracement, 38.2% Fibonacci retracement,...
EURUSD has made a breakout of support at the 1.296 level. Expecting further downward movement and a stronger dollar rally to carry this trade south to next support of 1.194 (daily chart)
My idea is: EURUSD -0.14% is in a box now and could go short if it closes below an important daily support with 3 take profit levels. NOTE: this is just my idea, do not trade based only on this.
The EURUSD went down and broke the structure level at 1.2069. It is expected that the more sellers will join this momentum and start selling, which will decrease EUR value more. However, it is also possible that the price may backtest the structure and then goes down. There is a short opportunity for breakout strategy traders.
Following a few days of decline, the Euro finally recovered some losses against its American counterpart on Friday. The pair managed to appreciate limited 65 pips during the second part of the session until the combined resistance of the 55-hour SMA and the 50.0% Fibonacci retracement stopped any further advances. Some upside potential could still be apparent on...
Trying to catch a bottom Stops have to go below green zone Price is close to 1.200
Buy above 1.2199. Stop loss 1.1999. Take profit 1.2293. Reason for trading strategy: EURUSD is approaching its support at 1.2070 (100% Fibonacci extension x2, 50% Fibonacci retracement, horizontal pullback support, descending channel support) where we expect price to bounce and rise to its resistance at 1.2293 (61.8% Fibonacci retracement, horizontal overlap...
Buy above 1.2068. Stop loss 1.2007. Take profit at 1.2253. Reason for the trading strategy (technically): EURUSD bounced nicely off its support at 1.2068 (76.4% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing low resistance) where we expect prices to rise further to its resistance at 1.2253 (100% Fibonacci extension, 38.2% Fibonacci...
It's hard to tell if the price will push lower or goes higher. We can see that we have many confluences below the current daily candle. So I like to wait for a confident price action setup before making any decision.
Looking for this to retrace back 50% fib to around 151.238 before we drop down to 147 again. Have a great trading week guys and RISK MANAGE AT ALL TIMES... Non Farm Payrolls are also this week so expect high volatility as usual. & Shoutout to Benji @pipseyhussle for showing me how to use Fib retracements ahaa
The pair had finally escaped the triangle that took almost 3 month . That bear break will make a long strong down trend in the next few month but the pair is now at a strong zoneof "1.20700/50% fibo-retracement" and the formation of a Hammer price action makes a clear buy signal so my guess is that the pair is going to retest the zone of "down edge of the...