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Eurusdidea

BluetonaFX - EURUSD Potential Head & Shoulders OpportunityHi Traders! We have a potential Head and Shoulders opportunity on the EURUSD 1D chart. The price action is telling us that there is a bearish bias due to the market being in a descending price channel with lower highs and lower lows; additionally, the market is also below our 20 EMA. We are looking for a break and a close below the neckline to target 1.08500. As long as we remain below the 20 EMA (we MUST stay below the 20 EMA) and in the descending channel, our bearish view will continue. Please do not forget to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX
by BluetonaFX
2
EURUSD Analysis 7Aug2023At the end of the week, the trendline is holding steady and there are limits to the potential returns. However, we can observe that the bearish trendline has been positively responded to three times, which is often a signal that the bearish trend is still dominant. Additionally, there is a liquidity area (highlighted in yellow) below SND that typically receives a positive response from the price in the future. It is likely that the price will fall further than the liquidity area.
by Hokusai_FX
BluetonaFX - EURUSD Potential Trendline Break OpportunityHi Traders! We have a potential trendline break opportunity on the EURUSD 1H chart. The price action is indicating a bearish move due to the lower highs and lower lows. The market is also below our 20-day EMA. The confirmation for entry will be a trendline break and a close below the trendline to target 1.09746. If we get this, we must stay below our 20 EMA; if we break above the 20 EMA, then the bearish bias may change. Please do not forget to like, comment, and follow, as your support greatly helps. Thank you for your support. BluetonaFX
by BluetonaFX
4
BluetonaFX - EURUSD Potential Evening Star OpportunityHi Traders! There is a potential Evening Star pattern forming on the EURUSD 1D chart, which suggests to us that the bullish momentum over the past week is possibly slowing down. We have highlighted on the chart the doji candle that formed this past Friday, which is a warning sign that the momentum has run out of steam and bulls might start profit-taking on their long positions. For the evening star pattern to complete, we are looking for a confirmation signal, which is a break and a close below the doji candle at 1.12041; we must get this as this will be our confirmation for entry. The RSI indicator value is currently around 74, which also suggests that the market is possibly overbought and momentum is slowing down. If we get this, we have an exit target at 1.11110, so this is a fantastic risk-reward setup. As we are against the trend, stops should be tight; if the evening star pattern fails and the bullish momentum continues, then we will look for buying opportunities to the upside. Please do not forget to like, comment, and follow, as your support helps us greatly. BluetonaFX  
by BluetonaFX
4
BluetonaFX - EURUSD Cup & Handle Pattern OpportunityHi Traders! There is a potential cup and handle pattern here on the EURUSD 1D chart. After the down wave and then up wave, the market has now reached the psychological level of 1.10000. The market has not been around this level for more than a month, so we expect some resistance here, therefore we have drawn the potential cup handle on the chart. The potential cup handle consists of a possible consolidation period near a key resistance level before another attempt to close and break above the level. 1.10000 is the key level; the market must break and close above this level for a continuation upwards. There is a long-term price rejection resistance level at 1.10956; there are also multiple price resistance candles near this level, which we have highlighted on the chart. If this potential pattern fails and there is no bullish momentum to break and close above 1.10000, the chart pattern will change to a bearish pattern, and we will look for opportunities to short. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
6
BluetonaFX - EURUSD Descending Triangle OpportunityHi Traders! There is a descending triangle opportunity forming on the EURUSD 4H chart. The price action is showing lower highs and lower lows, which shows that the bears are currently driving the market to the downside. There is support at 1.08354; there was a previous double bottom at this level, so we are looking for a momentum break and a close below this level. If we get this, we have highlighted the target area on the chart. The target area is 1.08005–1.07925. Please remember to like, comment, and follow us, as your support greatly helps us. Thank you for your support. BluetonaFX 
by BluetonaFX
2