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EUR/USD Analysis for Week 23DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Good day to all! I took a week off last week but it affected me badly. Since no anaysis was done, I thought I could just jump into the market but I was very very wrong. With that being said, lets get started on some propper analysis. Monthly: Alright so with June closing off, here we can see the price is reaching highs from 2015 and 2016. A bit of a resistance level if you will, and a damn strong one at that. The price did move over our moving average but we need to first of all be patient to see if it will break that resistance point and second, set a resistance point. So lets take a closer look. Weekly: Ok so in the weekly we can see a little bit better where we can set a good resistance level around the 1.14659 area. Resistance has been holding since January of 2015. There have been a few minor breakouts but the resistance level is clear. Daily: On the daily we clearly see some more support and resistance. Our major resistance area beign that 1.14659 area. The other resistance that was broken was around the 1.12885 area. In the rectangles highlighted below we see how back in September, October and one day in November of last year the resistance was tested, and once again this past month. So now it could be that it will become a support area if the price rejects the 1.14659 resistance area. The trend line is obviously bullish on this pair. 4hr: This week I want to try out pivot points. I am using these on a daily timeframe. So lets take a look at the chart. First thing we see is that the price crossed our MA and tapped it a bit this past Friday, closing below it. Looking at our pivot point the price was also unable to break it. I firmly believe there will be a bit of a big gap this weekend when markets open. Analysis: Option one: Ok So one of the posibilities is that this price will test that 1.14442 resistance area that did not pass this past thursday and friday. If it breaks, our next target could be the previous larger resistance ar 1.14659 and break down. An it would be nice to catch it coming down. Option two: Other thing that could happen is that this will be the end of this uptrend, seeing as how its come to a major resistance area. Be patient this week, trade smart.
Short
by EdwardFabianRamirez
EUR/USD Analysis for Week 21DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas". Ok so this pair has been a bit tricky for me. A lot of volatility but we can manage. Let's take a look... Daily: Ok so on this daily we can see an uptrend since March of this year making higher lows and thus forming a trenline, and after that gap in April the price has shot up to a bit of a resistance level at 1.12777 that has been rejected but also forming support levels at 1.11387 which was rejected on Thursday and Friday. 4hr: Ok so lets take a look here at the trendline we drew last week. Out analysis last week was Long because of the price was touching the trendline and my analysis was that it would bounce off. So it played out well until Wednesday when there was some mayor news coming out for the Dollar. Two things happened here last week. I entered a short position on Tuesday which seemed that was gonna play out well, but the news made price hit my stop loss, only to come back, break the trendline and go way past my take profit. So I need to work on being patient, follow my analysis and not stick to the losses. Now back to the chart, the price bounced off our 1.11387 support to tap the trendline we had drawn and closing the week around that 1.11918 area that was previous support. So now it could be resistance? I cant give a certain movement on this pair. But I do believe that the price has been exhausted out and we will see the price start retracing on the long run.
Short
by EdwardFabianRamirez
2
KEEPING THINGS SIMPLE ON THE EURUD - BOREDOME BEFORE THE STORM?KEEPING THINGS SIMPLE ON THE EURUSD - BOREDOM BEFORE THE STORM ? (1 day, log scale) As said previously, the short-lived upward thrust for EUR into $1.17 has not been able to materialize. EURUSD is on the daily chart stil gyrating. Granted, 1.04/1.05 has again provided support, and so did the 1.105 provode resistance / did the 1.08 level provide support again. RSI divergences taking place on both sides... It's simply in a sideways market. Still. In all: I'd expect this thing to visit 1.08 again, 1.10 again, and anticipate a short visit to the upside (1.11 level, perhaps even overshoot to 1.12?) but this is only to complete the retracement from the previous fierce leg down, which started Oct. 15th at the 1.15 high, and ended on "D-Day" ;-) at 1.05. Note the Fib resistancelevel lining up with previous resistance. On the far bigger MONTHLY picture (see other chart) things look south (much) further. But let's first end this shorter leg up.
by JohnLaw
Stumbling the EURUSD legs by the dayKEEPING THINGS SIMPLE ON THE EURUSD / UPDATE (1 day, log scale) - tops have been tested, but could not get broken (even despite heavy volume) - we're ranging, now down again - note that the attempt to break the downward resistance line seems to hae failed - RSI is showing no bullish signs, though it is holding up. It broke the resistance line, now a retest. However, it's in neutral mode, and did not produce an overbought reading on the most recent leg. That serves as a warning: there's certainly not an uptrend. At least not yet. So instead, expect the downward pressure from the weekly/monthly to take over again, keeping EUR USD in the trading range. In all: re-test of 1.08-ish is the likely scenario. Again. Can it then hold, or will the higher time frames finally push it through there? Again, patience is needed.
Short
by JohnLaw