Euro / U.S. Dollar 2019 AnalysisHi again,
First time doing Fiat Analysis, but why not? :P it;s the same for all charts so, i believe it's a good time to start moving around to some interesting Charts.
So, again, this is only presentation. Ill be working with this one in larger time frames because it's a lot different from cryptos and it does not have the same volatility. It moves all different, and that, i like it as a challenge ;)
We are moving on a downtrend channel as you all know. I Expect the price to keep falling from now till 21 to between 1.05 and 0.97.
i'll get into deep every time i can so. Let's just start with this part by now since there's a lot of information going on already in a Month Chart, but ill be moving around in different time frames.
We got the Channel, Fibonacci and Chuvashov in Place. And as usual, there's a Fractal going on that ill try to explain later on.
So, hope you find as usual interesting and helpful to a better understanding on how markets works with fiats.
Stay tune! ;P
Cheers!
Charter X
Eurousd
Sell EUR/USD on Fib Breakout and Fib projections 161.8%Selling Eur/Usd on breakout fib retracement 61.8%. looking to find new low or at least 161.8% on projections fib line.
Fundamental: Not really much changed last week. We stay short on EURUSD for longer period of time. We still believe that rate cuts will not come that fast, on top of that Europe starting new program to boost ecomony which wil influence euro on the short side.
Risk note: DXY, is around reasonable techincal sell zone. So we m8 see a drop in DXY which will cause a demand on Euro/Usd
The "Pulse" of an asset times Fibonacci: EU minor Impulse ReduxQuick plot to observe EU after FOMC rate decision.
"Impulse" is a surge that creates "Ripples", like a pebble into water.
"Impulse Redux" is returning of wave to the original source of energy.
"Impulse Core" is the zone of maximum energy, in the Golden Pocket.
Are the sellers still there? Enough to absorb the buying power?
Reaction at Impulse is worth observing closely to gauge energy.
Rejection is expected on at least the first approach if note more.
This is part my ongoing series to collect examples of my Methodology.
.
.
Ordered Chaos
every Wave is born from Impulse, like a Pebble into Water.
every Pebble bears its own Ripples, gilded of Ratio Golden.
every Ripple behaves as its forerunner, setting the Pulse.
each line Gains its Gravity .
each line Tried and Tested.
each line Poised to Reflect.
every Asset Class behaves this way.
every Time Frame displays its ripples.
every Brain Chord rings these rhythms.
He who Understands will be Humble.
He who Grasps will observe the Order.
He who Ignores will behold only Chaos.
Ordered Chaos
.
.
.
want to Learn a little More?
can you Spend a few Moments?
click the Links under Related.
What's next for the euro ?EUR/USD failed to surpass the 50 SMA around 1.121 two few days ago and fell to lowest level since May 23 and just few pips away from YTD lows.
The technical picture remains bearish, as long as resistance trend line around 1.126 remains intact.
However, on the daily chart we have double bottom at around 1.1105-1.1110 which is holding the bearish continuation of the trend.
Breaking this level will trigger a strong fall towards 1.10 level.
The pair is now trading around 1.113 and looks like a bearish pennant-continuation pattern is being formed on 1 hour chart.
Fundamentally the picture hasn't changed much and it is clear that the market sentiment is more tilted towards the us dollar.
Support levels: 1.111-1.1107-1.1050-1.10
Resistance levels: 1.118-1.121-1.126
Good luck
New low for EUR/USD?Euro is trading in a bear trend well below its main moving averages and oscillators in negative territory which indicates more downside pressure in the days ahead.
After failing to recover beyond 1.133 resistance it is now trading near 1.125 approaching 78.6% fibo level of the recent up move.
In my opinion it may retest the recent trend line near 1.13 figure but the big picture remains down as long as the pair is trading in the down channel shown on the chart targetting YTD lows (1.117) and further below.
Good luck
EURUSD may will not able to continue the pattern If you followed my last article about EURUSD I thought that the EURUSD will target 1.1440 to continue the Shark pattern .. But I don't think that now because the up move is weak.
EURUSD pair enter selling zone now it's near the upper side of the down-channel and near PRZ of the Shark pattern the selling is better than buying it.
good luck