Euro Index Approaching Resistance, Prepare For A Reversal
Euro index is approaching its resistance at 7.025 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop to its support at 6.9958 (76.4% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching its resistance at 91% where a corresponding bounce could occur.
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Eurindex
Euro index Approaching Resistance, Prepare For A Reversal
Euro index is approaching its resistance at 6.9504(100% Fibonacci extension , 61.8% Fibonacci retracement , horizontal swing high resistance) where it could potentially drop to its support at 6.9159 (61.8% Fibonacci extension , horizontal swing low support).
Stochastic (34, 5, 3) is approaching its resistance at 91% where a corresponding bounce could occur.
EUR/US Possible Bull Push after it finishes the gartleyThis is a possible reversal which i'm looking at, because the US index is going up, and the EUR index is going down but they are both approximating a resistance
and support respectively i wont be entering the trade until further confirmation, which most likely would be seeing the rejection on the pair and the indexes.
EURUSD Part 3 LONG!Its a clear signal from the part that i round!
i know a lot of people already hold long sell position from 1.1712 area from yesterday bull, this is a warning for small account that this market will go towards 1.18xxx area before the Big down or continue to 1.2, reason are pretty simple its because weaker usd are good for business and according to the previous year, its ranging and start of an up trend in longer term!, forget about 1.0x area for now if you're planning to go long.
EUR Basket, on supports.EUR Basket made of 4 currency pairs is on a congestion of several supports and could breath a bit.
Here are the supports:
* Lower bound of the descending channel.
* 50% level of the pullback
* 23.6% level of the bigger picture impulsion.
Elder impulse candle color changed from red to blue (before green?) on the daily chart.
I also asked myself if we could see a "fractal effect" playing out on the 50% fibo level from the pullback.
To summarize:
Trend remains intact but **I would'nt short** it until futher notice.
Several daily closes under dotted line 23.6% would accelerate the down-trend