Eurusdidea
Bearish candlestick formation in the daily chart, price may dropDear traders, as a continuation of my previous idea, I am adding further relevant points
and updating the EUR/USD idea in view of the current developments in the market and also
adding a possible trade signal.
In the daily chart, you can see that bearish candlesticks have formed in the resistance level.
This is a strong indicator that price may drop further in the coming days.
If EUR/USD is unable to break the resistance level that I have highlighted with a circle in my chart,
I would advise traders to short EURUSD@1.07-1.0760 with SL above 1.08 and TP at 1.04
EUR/USD runs into overhead resistance, price may fall furtherEUR/USD is in a prolonged downtrend for quite sometime now. After reaching the multi-year
lows at 1.03 level, EUR/USD staged some pullback and managed to reach close to the 1.08 level.
However, the recovery seems to have run out of steam . A combination of technical and fundamental
factors may cause EUR/USD to tumble in the coming days.
The broken support level at 1.08 might turn into resistance. In addition to this, the 100-day EMA lies just
above it which might offer strong dynamic resistance. Furthermore, geopolitical disturbances and concerns
about global financial health will likely weigh on the Euro as the US Dollar is expected to stay strong.
The confluence of the above factors can mean that the circular area that I have highlighted in my chart
will likely be a strong resistance level.
Possible Signal
Sell EUR/USD between 1.08-1.09 with Stop loss about the resistance and TP at 1.0350
Eurusd shorts?Eurusd has once again, approached a very strong resistance level on the HTF.
A small, cute head and shoulders is supposedly forming on the LTF.
A break of the neckline should lead to more downside action....
If not The setup is invalidated...
Observe good risk management.
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EurUsd- Approaching local resistance (update)As I suspected, EurUsd has started to drop after reaching the very important resistance zone around 1.08.
After yesterday's low at 1.0628, the pair has started to correct higher and now is approaching 1.07 zone local resistance.
This can offer a good entry point for short term traders with negation above 1.0750 and a target at 1.06 support
EUR/USD SHORT SELL OPPOTUNITY NOW..
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Eurusd shorts...Eurusd has approached a daily confluence zone of both a daily resistance level and the resistance of a downward channel, this inadvertently sets the stage for shorts....
A breakout of a LTF ascending trend line has occurred and a retest is already underway, this is a good risk to reward trade from my own view.
EurUsd to resume its downtrendIn the past 10 days or so, I said that EurUsd could correct towards 1.08 very important resistance and after the pair reached 1.0786 it started to drop.
At this moment EurUsd is trading at 1.0710 and as long as the 1.08 zone resistance is intact, sell rallies can be a good strategy.
The first target for bears can be 1.06, but, in the medium term, the pair can drop and retest the previous low.
EURUSD top-down analysisHello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
EURUSD - CURRENT SENTIMENT ANALYSE , DXY - DXY is currently at 101.632 LEVEL. Also the EUR FEATURE stays at 1.07521 LEVEL. The EURUSD PRICE is currently higher than the DYNAMIC S / R LEVELS. Most likely the PRICE SHORT TERM can be sold a little before BUY.
- Currently the OVERALL MARKET is RISK OFF. STOCKS is currently showing a NEUTRAL BIAS. And the VOLATILITY is getting a bit UP. Also COMMODITIES still shows a UP SIDE BIAS. Currently there is only one RISK OFF TONE in the market. Therefore, all currencies such as NZD CAD AUD can definitely be DOWN in the future. Also JPY CHF can be UP.
- The EURUSD PRICE may be slightly up to 1.0921 LEVEL. Maybe a change from the USD HIGH VOLATILE EVENTS coming up in the coming days. So stay tuned.