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Eurousdlong

Onward and Upward for EUR/USDWith the Fed continuing to keep interest rates low I believe the Euro will continue to gain value. We've been decelerating on the daily chart for 6 weeks now after a nice run up but haven't seen much bearish momentum to get much of a pullback. This looks like more of a short breather before the next leg up. I have a zone on the monthly chart between 1.175 and 1.22 and the rejection of this level again made me look at the intraday for a potential reversal entry. Technical trade of a breakout of structure on the 1hr chart with a retest of the 1 hour 50EMA and 382 fib. Stop is placed behind the 618 retracement. I currently have no limit set on this but a soft target at 1.20 and a secondary target at 1.22
Long
by respvwned
EURO Has Completed Bullish Setup Against US Dollar On Long TermAfter successful BAT A very big bullish Shark pattern: Hi folks, hope you are doing good. In my previous article on September 2019 I predicted that soon the balance between Euro and US dollar in the Forex market will be changed. As euro had formed a complete bullish Shark pattern against the US dollar pair. Before this Shark pattern we can also examine that from December 2015 to Feb 2016 the euro completed bullish BAT patter and started is very big bullish rally from the potential reversal zone of this BAT. The rally started from Jan 2016 and ended on Feb 2018. This time the bullish rally can be stronger than the previous one because this Shark pattern is more bigger than the previous bullish BAT as it was started from December 2016 and completed in March 2019. And this month we can see that the price line of euro has taken bullish divergence and hit the sell zone that I defined as per Fibonacci sequence of bullish Shark pattern. But after hitting the sell zone the priceline again dropped down in the potential reversal zone. Why priceline moved down in PRZ level again? Now the question is that what was the reason that stopped the priceline to completely enter in the sell zone to start a bullish rally. To know this we need to switch to the week chart. And here we can see that the there are four simple moving averages working as resistance. The 25, 50, 100 and 200 simple moving averages and the priceline is not able to cross up or break out even a single of them and moved down. A formation of falling wedge: On the same weekly chart we can also observe that the price line is moving within a falling wedge since November 2017. We can see two more touches by the candlesticks at the resistance of the wedge and after these two recent touches the resistance of the falling wedge is more confirmed. Now at this time the candlesticks are hitting at the support of the Wedge. I have also so placed the volume profile on the complete price action moving within this wedge and as result we can see that the trader’s interest is very low below $1.10 and the point of control of the volume profile is at $1.14. This time the price line is moving in the area where the traders interest is very low therefore there are strong chances that the euro will take the bullish divergence from the support of falling wedge and move up at least up to the point of control of this volume profile. Oscillators and indicators: If we see some indicators and oscillators then we can see that relative strength index (RSI) has already visited the oversold zone therefore I am expecting that it will not enter in oversold zone again. The moving average convergence divergence (MACD) is strong bearish and the stochastic is in bear cross. Once we will have bull cross from stochastic and MACD will be turned weak bearish from strong bearish then we can expect that the priceline will make another attempt to break out the resistance of the wedge. And once the resistance of the wedge will be broken out then we can expect a very powerful bullish rally that can totally change the market balance between Euro and US dollar. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
Long
by moon333
1
EURUSD formed a bullish cypher | Upto 12% move expectedAfter formation of BAT pattern priceline of Euro / US Dollar famous forex trading pair has formed another harmonic bullish Cypher pattern and entered in PRZ area to hit the sell targets soon insha Allah. Even thought B leg is retraced upto 0.307 rather than 0.382 fibonacci but rest of the pattern is behaving as required perfect cypher therefore I am ignoring this difference. Volume profile of complete pattern is showing less interest of traders at this. Stochastic is oversold but did not give any bull cross sofar and MACD is still strong bearish therefore I would suggest to wait for MACD to turn weak bearish or for bull cross signal from Stochastic then buy. The potential reversal zone can be used as stop loss in case the complete candle stick closes below the PRZ area. I have used fibonacci sequence to set the targets: Buy between: 1.11999 to 1.08206 Sell between: 1.14961 to 1.22104 Regards, Atif Akbar (moon333)
Long
by moon333
EUROUSD IDEAPrice action has once again proved that it works with news. Before the NFP news, price was near the dynamic support of the trendline and as the news broke, there was a sharp rejection to the upside which is normally expected when price meets a support. Drawing my harmonic pattern, i expect price to break through the upper trend line as the overall trend of EU has been downward for a while now. once cannot necessarily be sure of what the Market makers will do but i will be setting my various TP at the different resistance levels i have while using a trailing stop loss and proper risk management system.
Long
by blacpeaz
Euro In Trouble For Continued Downside Against The Dollar We saw a strong bounce off of the 61.8% fibonacci zone, but we're coming up on a strong resistance that was previously a strong support. I like to play these Support/resistance flips the first time they test it as the supply usually keeps the price from moving through the level and they are nice shorts with a strong RR for less risk. I have a relatively tight stop as I could also see a potential push through the resistance to the top diagonal resistance level that we've seen hold back the price several times now. I don't foresee that happening though, but it's important to weigh all the angles when looking at a trade. If I get stopped out, I may take another go at it from that level also as it has confluence with both diagonal and horizontal resistances. On the daily, the 20MA is lining up with our short zone nicely for a possible retest. On the 240 (4 hour), we are also seeing a possible retest of the 30MA, that has been very pivotal for the FX:EURUSD chart as you can see it used it as support on it's most recent rally. Looking at the macro picture, we can see we've got a gap way down below around the 78.6% level as well as a bearish picture that is being painted for a full retrace back to the bottom for a potential double bottom. Listening to Chairman Powell's comments on the US Economy from 60 minutes aligns with my trade thesis as he stated that the US economy looks healthy on every metric and we should see continued growth into 2019 without any rake heights from the Fed. As always, manage your risk and try and maintain at least a 2:1 or 3:1 RR on all of your trades to maintain profitability in the long run. This is a small swing trade position on the smaller time frame, but if we do break that 61.8% level and the blue line from previous support doesn't hold, next supports are a ways down based on the VPVR as well as the fibonacci level. Cheers and happy trading!
Short
by jacobcanfield
3
EURUSD Intraday ForecastAs we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.143. But the short term forecast is range bound, so we expect to reach the following targets: TP3: R1=1.149. TP4: R2=1.151. Set the stoploss of these orders at breakout of S2=1.141. Stop and reverse: If trend gets reversed, sell (stop) orders will be opened at breakout of S2=1.141. In this situation, there is an expectation to reach the target S3=1.1335. Set the stoploss of reverse orders at breakout of S1=1.143. Set the stoploss of reverse orders at breakout of R1=0.996. If you would like to trade in the next 24 hours , the intraday forecasts of ForecastCity will show you the most accurate and the most likely actions and swings of the market. Our intraday forecasts are available before those of all the other sites. Our intraday forecasts are available very early in the day. It is one of ForecastCity’s glorious and positive qualities. This quality has made us the first forecaster that forecast tomorrow for you!
Long
by ForecastCity
Will EUR/USD Be Affected By US Election? What are your thoughts and opinions/ideas? Will the U.S. election drastically effect the EUR/USD? Two weeks until Election Day in America and market speculators are spreading the good word. Feel free to explain with the other side of your brain. How will the Retail Trader react? What are you and I going to do to avoid their mistake? Stop-Losses are hit when the stampede arrives, so let's connect minds. #GSA (Gold-Snipers Academy) - MaalikWats
by MaalikWats
1