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Eurodolar

EUR/USD - Bullish Divergence - Chance for EuroAfter a lot of weeks of decline and sideways, there is a potential for Euro to grow up! When we look on the chart we can see a really strong bullish divergence on MACD and RSI also. The market is doing every time a new LOW but indicators are doing a higher lows. There is a possibility for Euro to rise again (mid-term). We can see 3 strong divergences and it doesn't mean that the market will surely grow! There is a big chance but the market can do one more low and then it would be much more stronger signal. We could spot also a Falling Wedge pattern. It is a bullish pattern, but we need confirmation. Without confirmation we can do a one more bottom and the signal will be stronger. There are more set-up to do when we want to trade this. If we go to the market without confirmation (f.e. now), we need to have a really tight Stop Loss. This way is very risky but with tight SL it won't be a big deal if we hit that. Personally, i would trade the second set-up after confirmation. 1. SET-UP - WITHOUT CONFIRMATION (AGRESSIVE) BUY: 1.133 - 1.141 Target: 1.144 1.15-1.16 1.154 SL : 1.126 For me, there is better set-up the second one and I will describe why. I will join the market after the confirmation. It means after break and close above the red trendline (Falling Wedge break). When this won't happen now and when the market breaks the white short-term trendline, there is a big chance of retest the orange trendline. At this point divergence would be much stronger and there I would do agressive open. 2. SET - UP BUY: Daily close above the falling wedge Targets will be similar (could be the same). I will post later (it depends on how market will develop, SL also).
Long
by SlovakTrading
EUR/USD anticipates ECB meetingMorning outlook - EUR/USD anticipates ECB meeting Despite a release of better than expected US purchase orders data the currency rate did not manage to bypass the 55-hour SMA and soared in the opposite direction. The main drivers that pushed and are continuing to push the pair to the top are expectations on the upcoming ECB meeting. On the one hand, the currency rate faces two notable resistance levels near 1.1835 and 1.1850. The first one represents an upper trend-line of an alleged descending triangle, while the second one represents an upper boundary of a large descending channel. However, if the central bankers’ meeting produces a decision about cutback of the quantitative easing program the Euro might easily break through these barriers and reach the 1.1900 mark.
by UnknownUnicorn890690
Analysis and forecasts for EUR / USD 16/08/16The technical situation on the main currency pair has not changed. At the moment a small advantage is the demand side, which is trying to once again lead to break the resistance level at 1.12. However, increases are limited, as the market awaits Tuesday's readings, which may be the signal for a stronger movement. If you receive readings support the European currency, the demand side will receive strong support, which may result in attack and breaking resistance at 1,1217-33. In this variant will to break with the top side of the trend of several weeks, which will open the way towards 1.1427. Previously, however, the demand will have to face, with a line drawn downward from the top of the 3 May (1.1617). Resistance is located in the vicinity of 1.1250. Otherwise, you must reckon with the acquisition of the initiative before the supply, which is supported by the data will lead to declines. The first resistance will be the last local minima at 1,1054-66, whose defeat will pave the way toward support level 1,1092-1,1125.
by RobertPapon
New York Session Watch EURUSDEUR/USD has been trading within the inside bar candlestick pattern throughout the Asian and early London session. The long term trend is still bearish as the Tenken-sen is still below Kijun-sen and the short term moving averages (10 and 20 period) are still below the long term moving averages (50,100 and 200 period). The stochastic is showing this market is overbought as well which add fuels to the bears. Note that there's a pin bar candlestick pattern which is also a false break of the inside bar candlestick pattern. This could lead the price lower in today's New York session creating selling opportunities for traders
Short
by radoslaw.mazgaj