EURUSD approaching major resistance, prepare to sell1.0604 is fibonacci retracement, fibonacci extension and horizontal pullback resistance.
Eurusd1hr
EURUSD prepare to sell below major resistanceSell below 1.0711. Stop loss at 1.0762. Take profit at 1.0525.
Reason for the trading strategy (technically):
We prepare to sell below major resistance at 1.0711 (Fibonacci retracement, horizontal overlap resistance) for a push down to 1.0525 support (Fibonacci retracement, recent swing low support).
RSI (34) is approaching strong resistance at 60% where we expect to see a corresponding drop in price too.
EURUSD turn bearish for a push downSell below 1.0585. Stop loss at 1.0660. Take profit at 1.0450.
Reason for the trading strategy (technically):
Price remains under heavy downside pressure below 1.0585 resistance (pullback resistance, descending resistance) and we expect price to make a further push down to 1.0450 support (Fibonacci retracement, horizontal swing low support).
RSI (34) sees a descending resistance line holding price down.
EURUSD remain bullish tolerating excess for a bounce from hereBuy above 1.0591. Stop loss at 1.0573. Take profit at 1.0713.
Reason for the trading strategy (technically):
Price is right on major support at 1.0591 (Fibonacci retracement, horizontal support, Fibonacci projection. We hope to see a bounce up from here to at least 1.0713 resistance (Fibonacci retracement, recent swing high resistance).
RSI (34) is seeing strong support at 38% but is also seeing intermediate descending resistance which limits the upside potential.
Stochastic (55,5,3) is seeing strong support above the 3.7% signalling a bounce is impending.
EURUSD Weekly View: Dropping nicely towards our profit targetSell below 1.0700. Stop loss at 1.0850. Take profit at 1.0510.
Reason for the trading strategy:
Price reacted nicely from our selling area last week and is dropping nicely towards our profit target. We remain bearish below 1.0700 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a further push down to 1.0510 support (Fibonacci retracement, horizontal support).
RSI (34) is seeing strong resistance below our 61% level and has also made a bearish exit, signalling a change in momentum to bearish.
Stochastic (21,5,3) is seeing strong resistance below our 90% level and has also made a bearish exit, signalling a change in momentum to bearish.
EURUSD profit target reached, time to go bullishBuy above 1.0637. Stop loss at 1.0573. Take profit at 1.0760.
Reason for the trading strategy (technically):
Price has dropped perfectly and reached our profit target. We now turn bullish above 1.0637 support (Fibonacci retracement, horizontal support) for a push up to 1.0760 (Fibonacci retracement, recent swing high resistance).
RSI (34) is seeing strong support at 38% but is also seeing intermediate descending resistance which limits the upside potential.
Stochastic (55,5,3) is seeing strong support above the 3.7% signalling a bounce is impending.
Reason for the trading strategy (fundamentally):
The main news event driving the USD today is the U. of Michigan Confidence. It assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. A low or falling University of Michigan Sentiment value is considered an early indicator of an economic downturn. We’re expecting a lower value and a weaker forecast which means a weaker USD, which goes in line with our bullish EURUSD trade.
EURUSD remain bearish with break of our long term supportSell below 1.0711. Stop loss at 1.0758. Take profit at 1.0623.
Reason for the trading strategy (technically):
We remain bearish with the break of our long term ascending support-turned-resistance line. The goal is to be bearish below 1.0711 resistance (Fibonacci retracement, horizontal overlap resistance, pullback resistance) for a drop to at least 1.0623 (Fibonacci retracement, recent swing low support).
RSI (34) is seeing descending resistance
EURUSD profit target reached once again, time to turn bullishBuy above 1.0711. Stop loss at 1.0622. Take profit at 1.0811.
Reason for the trading strategy (technically):
Price has reached our profit target for the 4th time in a row. We now turn bullish above 1.0711 support (Fibonacci retracement, horizontal overlap support, bullish price action, long term ascending support, USDCHF negative correlation) for a push up to at least 1.0811 resistance.
Stochastic (21,5,3) is seeing ascending support and bullish divergence signalling a bounce is expected.
EURUSD profit target reached, prepare to turn bearish againSell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.
Reason for the trading strategy (technically):
Price has reached our profit target perfectly from previously. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) has made a bearish exit previously and still remains in a bearish configuration.
EURUSD remain bearish below major resistanceSell below 1.0800. Stop loss at 1.0880. Take profit at 1.0708.
Reason for the trading strategy (technically):
Price reacted really nicely from our selling area. We remain bearish below major resistance at 1.0800 (major horizontal resistance, Fibonacci projection) for a drop to 1.0708 support (Fibonacci retracement, horizontal pullback support).
Stochastic (21,5,3) is seeing a reaction off our 93% level of resistance.
RSI (34) is also seeing a reaction off our 65% level of resistance.
EURUSD longterm positionIt is in a steady upward channel on 4h, recently broke through a pretty strong resistance and key level at 1.07. I don't see the trend line stopping it from continuing bullish and I believe with a weakening DXY we could see the start of a steady and long term overall bullish move from EU
EURUSD SHORT 1HR1Hr EURUSD SHORT analysis.
Confluences
* Price action suggesting a retracement after spike
* Daily trendline bounce
* Fibonacci repeat retracement
Prepared for a long on DAILY TRENDLINE break.
Enjoy, comment and like :)
EURUSD SHORTHey,
EURUSD SHORT, trade as a retracement from the daily trend line labeled, possible targets 0.5fib through to 0.618fib.
EURUSD LONG, on a break of the daily trend long with a retest before pushing to 1.081
Risk 1percent both trades, to hold for 1day.
Missed first entry after the trendline break but discovered a second entry and possible long.
enjoy.
Short Setup on EURUSDSell Stop @1.0513
SL: 1.0630
TP1: 1.0430
TP2: 1.0310
Break Even the position after TP1
Double top formation. EURUSD short.After a strong move upwards two tops have been formed. The second top is unable to break the first one set resulting in a strong sign of a reversal. I've placed my entry below the neckline. The drop will be roughly the same height as the double top formation.
short EURUSD @ 1h @ trading capability for this 52nd week `16Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Next week i`ll confirm or change my opinion about this SetUp :)
Buying/Selling or even only watching is always your own responsibility ...
Best regards
Aaron
EURUSD @ 1h @ Trading Box (1.05670 & 1.06600) 50th weekThis week EURUSD should awaiting the US Raite Hike and Press Conference of FED Chair Woman (on Wednesday) in a Trading Area - even Trading Box - between 1.06600 & 1.05670. I personally don`t know how much is priced in and how many rate hike the market is excepting right now !? So, i would prefere a technical SetUp, even trend follwoing, out of this price area (between 1.05670 & 1.06600) ...
1.06898 - monthly november`16 low (after president election rally)
1.06855 - 2nd temporarly high after last superordinate sell pressure and rebound
1.06666 - 2nd temporarly high after last superordinate sell pressure and rebound
1.06600 - upper edge of trading box
1.05670 - lower edge of trading box
1.05620 - 2nd temporarly low after last superordinate sell pressure
1.05518 - 3rd temporarly low after last superordinate sell pressure
1.05170 - 1st temporarly low after last superordinate sell pressure
1.05038 - 4th temporarly low after last superordinate sell pressure
Take care
& analyzed it again
- it`s always your decission ...
(for a bigger picture zoom the chart)
Best regards
Aaron
EURUSD 60min AnalysisOk here we have two potential pattern completions one being the Gartley I saw initially. The other, should it complete, a Bat pattern. Along with RSI I believe the Euro is pricing in a big leg to the downside. I know the patterns are bullish, but I believe the market was confused as Draghi spoke in depth about monetary policy, thanks to the great questions coming from the reporters @ the press release, the market gave back all the gains and allowed the bears to take over and keep the down trend intact.
Full disclosure I would quote resistance @ 1.09300 with support @ 1.08587. Leaving R&R in favorable odds should the pattern(s) complete
EURUSD BREAKOUT SHORTEURUSD just broke even lower.
Short to the bottom of the major trendline, where we then expect a reversal.
You can enter a long trade at the bottom of the trendline, with tight SL below.
EURUSD ForecastEURUSD is still well and truly bearish after negative ECB news, causing a breakout through the support (now turned Resistance) level.
Price is currently trying to break even lower from the local trendline , which would see EURUSD head towards the bottom of the long-term Major Trendline. From there we expect a bounce back towards Resistance before falling towards Major Support at Potential Reversal Zone 2.
Trading Ideas:
Short EURUSD
Trade trendline breakout
