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BluetonaFX - EURUSD Ascending Channel Opportunity Hi Traders! There is an ascending channel setup here on the EURUSD 1H chart. We are approaching our vector level at 1.09483; there may be some resistance here for the short term, and above this level, there is another vector level at 1.09766. We identified a cup-and-handle potiential formation on the 1D chart last week (LINK BELOW), and the handle now seems to be forming. The longer-term outlook is a possible retest of the psychological level at 1.10000. Please remember to like, follow, and comment. We appreciate your support. BluetonaFX
by BluetonaFX
6
BluetonaFX - New Range Zone EURUSDHi Traders! A new range zone has been established on the EURUSD 1H chart, and there may be some opportunities for entries before a breakout. The current range is roughly 39 pips, so the range zone is quite small. Resistance to the range zone is at 1.09463, and support is at 1.09072. There was a previous price rejection at 1.28486, which we have highlighted on the chart. This level could be a key level; if we break above the range zone, then the market will most likely test this level again. If there is a break below the range zone, we have a vector level at 1.08644 and a second vector level below that at 1.08014. Please do not forget to like, comment, and follow; we would love to hear your thoughts. Thank you for your support. BluetonaFX
by BluetonaFX
2
Ellison EUR/USD Morning analysis 12/06Continuing on from last week I am maintaining the forecast of buys from 1.076 and 1.079, expecting the temporary pullback phase on EU to continue a little higher. With sells expected at 1.084 or below 1.07. The theme of last week was watching Dollar start to show some exhaustion at key price sensitivity area of 104.5. On the higher timeframe, the DXY is on a more bullish bias, but secondary phase pullbacks/corrections are not out of the ordinary. We already had a very nice bullish rally on DXY from 101 price to break above a 30-day range and print higher highs on the intraday and extending 3.5% to 104.5. Last week US economic data was not as optimistic as expected, showing signs of a weakening US economy and feeling the pressure of a higher interest rate environment, coupled with macro inflation being elevated too. This all translates to a temporary pullback structure on the EUR/USD pair. Notable news this week: Tuesday - US CPI Wednesday - US PPI, FOMC interest rate decision Thursday - ECB interest rate decision, US jobless claims
Long
by EllisonCapital
EURUSD TRADING LEVELSHi Traders! Please see our calculated Vector levels to watch out for this week on the EURUSD 1D chart: VECTOR RESISTANCE 1 - 1.08047 VECTOR RESISTANCE 2 - 1.09298 VECTOR SUPPORT 1 - 1.06352 VECTOR SUPPORT 2 - 1.05161 We currently have a support bounce after hitting the 78.6 Fibonacci (marked 'C' on the chart) retracement level (which also lines up with our Vector 1 support) from the 'A' to 'B' swing (also drawn on the chart). Resistance was found near our Vector resistance 1 at 1.08047, so now we wait to see if we retest the 78.6% Fibonacci level/Vector support 1 for a possible push further down to Vector support 2 at 1.05161, or if we retest Vector resistance 1 again to see if there is potential for a push towards the Vector resistance 2 at 1.09298. We will notify you of any progress as soon as possible when we see any key market updates. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
2