The price move in bearish trend on Friday. It broke the daily bullish trend line and now it is getting ready to break the flag pattern. We can also see an Elliott Wave pattern plus a double top pattern on wave 3, which makes the downtrend even stronger.
I am Short Eurnzd Here As Short Is Confirmed Now As Volume confirms that looking good having 61.8 rejecting by fibonnaci and everyone know i am champ in trading fibonacci's. Trade With Care!!! TAke profits at 1.618 extension defined on chart
The questions is, if price has not moved lower, will it rise to a resistance level near 1.1400? We have confirmation from MACD and RSI that price has bounced from a support level and Bollinger Bands. And we can think about long trades on hourly charts. ADX still rises and it's better to wait for the reversal. If price can't move below the support level, we'll have...
Post Brexit things are still a little unsteady but starting to get back to a normalized pattern. There was a strong Brexit impulse down which is was projected by the linked chart. It is now in correction and could resume the down movement at anytime. I am looking for a break of the blue 4 hr trend line with a small flag or correction below (three x 1 hr candles...
EUR/USD now trades almost unchanged at 1.1045, bears extend control post-NFP release. Price action in the pair remains below 200-DMA at 1.1093, intraday bias bearish. Upside finds stiff resistance at 1.120 (trendline support turned resistance). Recovery attempts from post-referendum lows capped below trendline and we see reversal in trend only on breaks above...
Price action is heading for a re-test of 1.1 with further downside towards Brexit lows of 1.09 on the cards. The 20 day moving average (pink line) has capped upside gains over the last 12 days - a price alert is advised for sell opportunities where price attempts to break it. General sell opportunities are within the yellow box up towards 1.11 where strong...
The pattern is now valid with completion of 1.618 being hit but was rejected before hitting 50 to go short. If 1.618 doesnt provide support, stay short with 2 and 2.24 extensions as targets before looking for the bounce up to complete the pattern to ultimately sell again
Medium term sentiment is still bearish. However, currently, with all the major news breaking weekly it is difficult to garner absolute long term sentiment. Currently, the price is in a descending triangle formation; although the previous ascending triangle didn't achieve its bullish target; wait for breakout of the triangle and then go short or long. I...
15 Minute Long Signal for EURUSD
As long as euro price is contained inside its corrective channel, price might still push up towards 1.1225 area. But a break below 1.0910 may confirm that the trend is once again bearish.
Bullish Breakout Zone for EURUSD Disclaimer: Past results do not guarantee future success. IMLFX Forex Academy How To Become Part GDN Group: www.imlfx.club FREE Education Webinars: www.imlfx.club
If we look at the daily chart for EURUSD, we'll see range market conditions. In such case it's better to search entry levels near Bollinger Bands and place profit targets near the middle of such channel or the opposite line. Now we don't have perfect levels from higher time frame but still. We have a strong bearish candle and rising ADX. Will it be the perfect...
EURUSD has held a bearish bias for quite some time now and the recent referendum and Brexit victory has only brought back in the bearish momentum. As you can see in the image below EURUSD has been in a consistent downtrend since about the middle of 2008. Understanding that the long term directional bias is to the downside and having just broken a significant...
To be honest, it all started when I was completely unable to describe the EURUSD pair behaviour using Elliott Wave technics: it is surely possible but still escapes my knowledge. I noticed price increases and descreases were highly propotional and patterns were quite similar. I therefore tried to compare the price range and data range of the first pattern to the...
Short-Term Bearish - Potential - Move based on S/R level. Want learning Forex with a professional mentor? Benefit from a live class, every single day? www.imlfx.club
There has been resistance at 1.113 for the previous 2 months. Currently we still face issues breaking 1.113, but when it does break expect resistance at 1.118. When this breaks i anticipate upside of 1.14. Best of luck.