This is a Wyckoff topping pattern. We are going to unwind the move that led to the rally in EUR vs Sterling. Brexit fears have been price in on the most part, and the Eurozone is looking pretty weak, if not for the ECB propping up the currency with QE still. I do not think this propping up will end, either.
After our price has come out of the triangle, we observe how the levels are worked out. At the moment, as we expected the price went up, but found a resistance level near the mark of 1.2380. And after yesterday's trading, the support level is 1.23000. We expect that our pair will again test the resistance level and try to consolidate above the 1.24 mark. So at the...
Sell below 1.2378. Stop loss 1.2455. Take profit 1.2233. Reason for trading strategy: EURUSD reversed nicely off its resistance at 1.2378 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect it to fall to its support at 1.2233 (61.8% Fibonacci extension, 78.6% Fibonacci retracement). We have also identified...
Hey guys, We may have a possible right shoulder in place, given the aspect of the candles on H1 (EXHAUSTION CANDLES). The pattern should be watched closely. It could go all the way down in order to test the neckline, which is at around 1.22. I'm still bearish on EUR/USD (please check my previous ideas). Cheers Jesse
This my projected path for Hurricane Eurousd. However... If price action gives us something, I might just take it up for the buy. There is a trend line on the weekly that it did not even come close too, along with a wave pattern on this last wave on daily that is a little sketchy. Right now, as I see it, we are in an incomplete combo pattern, but don't worry, soon...
EURUSD is approaching our first support at 1.230 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 1.2421 (horizontal swing high resistance, 78.6% Fibonacci retracement, 61.8% Fibonacci extension). A breakout above our intermediate resistance...
The red boxes on the chart represent the Asian session as I came to notice that during the LSE session the pair would either come to the 50% of the TSE range, or all the way down retesting/breaking the low of the TSE range. Of course the opposite could apply, retesting/breaking the high in case of a downtrend. Details are laid out on the chart. For risk and...
A harmonic pattern IN his way to complete @1.2250 the pattern called New Cypher, in our opinion we don't expect the pattern will complete and there are a lot of support points above D point, We expect the target will be 1.2310 then 1.2290 Good Luck Thank you ----------------------------------------------- Do not read and leave .... Like, Comment and Follow...
EURUSD just wait for the break of the black line, next sell and catch your money. Target is green line
Hi, everybody. Updated yesterday's idea. Was not impulse, but a complex correction of the 2 zigzags. Short positions open after the breakdown of this line, the final goal is not limited, because the downward trend. But still said the minimum goal
EURUSD is approaching our first resistance at 1.2378 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 1.2301 (horizontal overlap support, 61.8% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also seeing a...
Price broke out of our short term descending resistance-turned-support line and is testing our first resistance at 1.2288 (horizontal overlap resistance, 100% Fibonacci extension, 23.6% Fibonacci retracement). If price breaks out above this level, a strong rally might occur, pushing price up to our major resistance at 1.2373 (61.8% Fibonacci retracement, 61.8%...
EURUSD is approaching our first resistance at 1.2374 (horizontal overlap resistance, 61.8%, 76.4% Fibonacci retracement, 100% Fibonacci extension). A strong reaction might occur below this level, pushing price down to our major support at 1.2214 (horizontal swing low support, 61.8% Fibonacci extension). A breakout of our intermediate support at 1.2286 (horizontal...
EUR/USD was trading slightly above the 1.2240 mark early on Friday, being restricted by the 38.20% Fibo retracement. This sentiment changed in favour of bulls mid-session in response to rather disappointing US employment data. Upside risks likewise prevailed during the following hours, thus sending the pair towards the upper boundary of a short-term channel and...