Europe
FTSE UK100 FTSE 100 we will see a change of tenure, put it in the comments.
They have marked supports and short- and medium-term resistance
This month we will be following it on our list and also the DAX, CAC AND IBEX35
A cordial Greeting L.E.D
In Spain at 6/10/2020
buy EURAUDEURAUD is in the support range due to the signs of a return from the RSI indicator...
It also creates a divergence in the MACD and in the RSI, which increases the confidence of the buy.
Please observe risk management
Share us with your friends ...
USD/CHF triangle breakoutHello,
As you can see on the hourly chart, a symmetrical triangle just occured.
Long position at breakout point around 0.9110.
Target: 0.9210 as per the measurement strategy (distance between lowest and highest point of the triangle which is around 100 pips)
Risk reward: 10
Already 50% of the target got achieved.
Good luck
EUR/USD !!!critical levels to watch!!!Hello everyone,
The pair is trading around a very critical support levels:
1- On the daily chart (left picture): on the verge of breaking the 50 SMA for the first time since May.
2- Tested the uptrend line from below which is a typical bearish behavior upon breakout.
3- On the 4H chart (right picture): Broke below 200 and 240 SMA for the first time since May.
4- Getting close to breaking the uptrend support line that's been holding since August.
Watch out for the above levels, do not trade before a confirmation of breakout and be aware of false breakouts.
Good luck, have a nice trading week.
SELL EURUSDEurope is losing the coronavirus battle again.
Spain, Portugal, France, etc. They have relapsed into high levels of infected people after having spent a very relaxed summer recovering.
A double-top channel has kept the price of the euro in continuous consolidation. It seems to me that on Monday it will fall again ... and then it will bounce again towards 1.20.
IBEX35 Trade still in play. Huge R:RI initially posted IBEX 35 set on July 30, it's taken quite longer than I thought it would but the trade is still in play with even better risk reward ratio.
Original chart
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See related links for previous idea
Good Luck!!!
EUR/USD deeper retracement aheadHello everyone,
As you look on the chart above, a negative picture for the pair is being favorable for the following reasons:
1- Broke below the uptrend line that has been intact since May.
2- Broke below the 20 SMA.
3- Hit the 50 SMA for the first time since May.
Initial target is at 1.1690 and even deeper at 1.1495 March high.
Good luck
EUR/USD Uptrend support line intactHello traders,
EUR/USD is trading above an uptrend support line that has been accompanying the pair since mid May, making higher highs and higher lows.
It is also worth mentioning that the pair is trading above all its main moving averages.
The up trend is supported by slightly hawkish Lagarde's speech last week and dovish FOMC, and that is making the fundamentals between the two currencies narrower than before.
Long positions are safe as long as the pair is trading above the medium term up trend support today at 1.1760, and the critical support at 1.1690.
Next resistance level/bulls target is at 1.1965 followed by 1.2010.
Good luck
TESLA IS LOSING VALUE CAUSE OF PORSCHE?After a strong bull behavior in the first half of 2020, now is starting to get bear as we can see the MACD indicator changing the price with a non-stable William’s Alligator index due to the necessity of a readjustment in the price. As Tesla has become the most valuable automotive Industry, recently Porsche have announced that they will make only Electrical Cars, making the German house a very strong competitor in the Europe field mainly, due to that the price as the exclusivity have fall. Not a financial advice.
Entry zone: 369.15
Stop lose: 388.67
Target zone: 330.74
EURUSD SEPT 6TH - 11TH OUTLOOK OUR VIEW OF EURUSD, POSSIBLE BULLISH CONT. TO THE 1.20'S
MA'S CROSSED UP
WEEKLY PRICE CLOSE REJECTION OF THE LOWS
BULLISH PRICE PATTERN
SHOULD THE OPPOSITE OCCUR, AND A BEARISH TREND BEGINS THEN WE WILL LOOK
FOR A RETEST OF MARCH 9TH HIGH 1.15 (THIS CAN HAPPEN LATER)
FEEL FREE TO COMMENT BELOW...
Euro priming up for 1.25?We’ve recently talked about the potential demise of the U.S. Dollar. What currency is poised to benefit the most from the devaluation of the dollar? Euro is the first thing that comes to mind.
Shortly after the safe-haven trade that pushed the dollar up against major currencies, the Euro started to rally over the U.S. dollar. After strongly piercing through 1.10, a relatively strong downtrend alongside piercing and 1.15 with relative strength, It is eyeing up a similar push up on these factors.
Technical trends point to a move higher in the Euro
Pointed above, we can see that the push past 1.10 – 1.11 broke a 2-year downtrend for the Euro. Furthermore, we can see a similar pattern where the Euro against the US Dollar consolidates for about two weeks before making a push upwards, usually on the back of positive data coming from Europe alongside harmful data coming from the United States. It shows that bulls are most likely just looking for any excuse to push the pair higher.
Euro wants to take the throne as the world’s reserve currency
This is quite unlikely ever to happen, as many commodities such as Gold and Oil are settled using the U.S. dollar. Nevertheless, the current headwinds pushing the U.S. Dollar downwards have been giving the world’s second reserve currency a time to shine.
Europe has relatively outperformed the United States regarding the Coronavirus, benefiting the Euro
The United States has consistently been posting 200,000+ new daily recorded Coronavirus cases, with the government doing little to nothing to prevent the further spread of the Coronavirus. Meanwhile, Europe has attempted to restrict the virus’s spread by imposing mandatory lockdowns in many countries. However, their reopening may be too early as we can see a resurgence in many countries in Europe. However, there is still a stark difference in how the governments have come together to fight the virus, and this may prove to be a game-changer in the long term for the Euro.
And obviously, U.S. dollar weakness
The U.S. Dollar is suffering strong headwinds due to inflation concerns, quantitative easing, and general risk-off sentiment in the markets. This may also signal a show shift in European bonds and equities, with U.S. investors looking elsewhere for yield.
Considering the U.S. dollar’s headwinds alongside recent strength in the Euro, it is likely we may see the Euro blow past 1.20 against the U.S. dollar on any positive news regarding Europe.
EUR is overbought and has been struggling with major resistanceHello everyone,
In this chart you can see the major EUR/USD longterm downtrend. And as we can now see the Euro has come up to a major inflection point.
Currencies turn over a longer period so we should still see 45-60 days of chopiness between 1.18-1.20. And then I'd give a 70 % Probability of the Euro going down against the dollar.
Though most recently the (the last few days) the dollar has weakened more although still within the parameters of this trade. A weekly close could give more info on where the Euro is going.
For perspective check out the other ideas linked below.
Thank you,
Stay safe, stay liquid.
Did The Unsustainable EUR/USD Growth Come To An End?EUR/USD has made an incredible run over the last two months. It is extremely rare to see such an increase in the forex markets. However, all things must come to an end.
Trading forex, the trend has always been much more important than any other market. And here we can observe resistance to our uptrend.
There is a confluence of three important things that I will be discussing here:
1. Horizontal Resistance
We can see a resistance block that has created a lot of friction for EUR/USD. So far there were multiple attempts around the 1.19 zone, but none of them successfully made it through
2. H&S
There is a head and shoulders pattern forming, which is another bearish sign. We are currently moving towards the right shoulder, which means that we might see a temporary increase but ultimately we expect a drop.
3. Trend Reversal
If you zoom out we can see the big orange line which shows that the trend has been going upwards consistently but now is making a turn downwards. Also the RSI shows a similar pattern (I took a larger RSI length of 30 to show that) where it now goes into a negative momentum of <50 RSI.
All of these combined give me confidence that the price will drop, and caused me to give the 'short' recommendation.
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Disclaimer!
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EURUSD Entry 1.19330 Target Price 1.20917EURUSD Rectangle Pattern. Entry 1.19330 Target Price 1.20917.
EUR/USD Uptrend over ?The pair faced some fresh strong bearish pressure as we go through the end of the week. The move is probably fueled by weak Eurozone PMIs today, which raised investors fears of a slow recovery in the continent that might push the ECB to proceed with additional stimulus.
Also, rising Covid-19 cases in some European countries is shifting the risk for the pair to the downside.
Looking at the chart, the market already broke below the 20-SMA which provided some support in the recent past, and is trading below an uptrend line on the 4H chart.
The bullish bias remains valid as long as the pair is trading above a Daily uptrend shown on the chart above, today at 1.16.
Good luck
Strong buy Santander BankI don't invest in banks but... this stock was downtrend since May 2017, so i have detected a double bottom in the lowest level, now it keeps consolidating and probably it will change the trend.
The next level: 3 per stock
