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Eurusddaily

EURUSD Profit target reached perfectly, time to start buyingBuy above 1.0500. Stop loss at 1.0430. Take profit at 1.0680. Reason for the trading strategy: Price dropped nicely and reached our profit target as expected. We now turn bullish above major support at 1.0500 (Fibonacci retracement, Fibonacci extension, horizontal support) for a push up to 1.6800 (Fibonacci retracement, horizontal swing high resistance). RSI (34) is displaying bullish divergence versus price which signals a bullish bounce is fast approaching.
Long
by theforexarmy
EUR/USD - PATIENCE PAYS OFF! Price has hit a key daily resistance zone which was respected and made price have a pullback which we think will be completed at the .618 FIB zone. Will keep an eye out on this pair, after last weeks choppy price action we should be seeing a new trend form to the upside. If this setups dosent work out than we are looking for the last FIB level of .786 Join our telegram for a play by play once it starts to setup nice. Click to join: t.me Need one on one guidance? Let a trader help! www.blueprintforex.com
Long
by pazminojr
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.
Long
by theforexarmy
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.
Short
by theforexarmy
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.
Long
by theforexarmy
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
Short
by theforexarmy
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.
Long
by theforexarmy
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.
Short
by theforexarmy
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.
Short
by theforexarmy
EURUSD: Approaching profit target, remain bullishBuy above 1.0590. Stop loss at 1.0450. Take profit at 1.0850. Reason for the trading strategy: Price continues to rise perfectly towards our profit target. We remain bullish above 1.0590 support (Fibonacci retracement, recent swing low support) for a push up to 1.0850 (Fibonacci retracement, Fibonacci projection, horizontal overlap resistance). RSI (34) is seeing a strong ascending support line holding price up. Stochastic (21,5,3) is seeing a strong ascending support line pushing it up.
Long
by theforexarmy
EUR/USD, DAY, NEUTRAL-SHORT (20-NOV-2016)Right now, we need to pay attention to the support zone near 1.054x area. 1. If the price breaks the support zone, we will look for opportunity to short when there is weak pull back (Highly Likely) -If it really break the support zone, it will be a nice risk/reward trade :) 2. If the price bounces back from the support zone, it might move sideway or bounce back higher. (unlikely due to the strong strength of USD) We will monitor this currency pair closely and update accordingly! :)
by YongLiang