We’re seeing major support at 1.1722 to 1.1710 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, 100% Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level. Our next level of major resistance is at 1.1842 (Fibonacci retracement, horizontal overlap resistance) while our next major support would be at 1.1675 ...
Last week price sold off from key resistance at 1.18363 and is on its way to last weeks first target at 1.17225. A break below the first target opens up target 2 at 1.16720.
Bullish Euro still have potential to move to the upside. Two pattern formation is seen for this structure analysis: Gartley Pattern: Bearish Cypher Pattern: Bullish
W.W Wave rider Short @1.18200 Sl @1.18800 Tp1 @1.17350 Tp2 @1.16950 Happy about every feedback or Idea :) W.W
The EURUSD pair basically shrugged off the latest ECB statement which was viewed as dovish by markets. After a dip towards the support area at 1.1760, the pair has recovered part of the post-ECB slide and is probing the 1.18 handle again. The dollar didn’t receive any meaningful support from strong US retail sales data as traders are still focused on the Trump’s...
Buy above 1.1712. Stop loss at 1.1633. Take profit at 1.1811. Reason for the trading strategy (technically): Price has dropped strongly towards our profit target as expected. We prepare to buy above major support at 1.1712 (Fibonacci retracement, horizontal swing low support) for a bounce up to at least 1.1811 resistance (Fibonacci retracement, horizontal...
Buy above 1.1811. Stop loss at 1.1764. Take profit at 1.1892. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We remain bullish looking to buy on dips above 1.1811 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 1.1892 resistance (Fibonacci retracement, price...
The greenback gained modestly overnight, buoyed by the impressive US PPI data. Today USD is trading under a mild pressure against most of its counterparts ahead of FOMC decision which is widely expected to bring a 25 bp rate hike. But the market focus suddenly shifted to the political arena where the Thump Republicans faced another hurdle. Specifically, the...
The trend line broke up and we have inverse head and shoulders pattern.
I could see shorting from the gap is not a bad idea. From this level could start the wave 3 going through wave 5 going down At this level is also a strong resistance level that could break the Euro down. Wave 4 could not go further high as it is limited to resistance at the current support. A dovish ECB decision could derail the Euro and move downwards.
Sell below 1.1811. Stop loss at 1.1853. Take profit at 1.1712. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly as expected. We look to sell below 1.1811 resistance (Fibonacci retracement, horizontal overlap resistance) for a push down to at least 1.1712 support (Fibonacci retracement, horizontal swing low...