EXY
EURCAD. Is it heading towards the low of the channel?EURCAD is moving in bullish parallel channel and multiple times tested the lows and highs of the channel. Now after it goes up and Retested the horizontal Resistance level so now it seems more like bearish biased And It is heading towards the low of the channel which is also a strong demand zone.
EURUSD: Bearish Reversal Idea, Seasonal AnalysisBearish Indications
• Resistance Zone at 1.06428
• Seasonal Analysis show EXY remains Bearish in January 60% of times.
• DXY is in a Bearish Trend on Weekly time-frame.
• Gartley’s XABCD the point D indicates a reversal in the Zone of 1.06428 to 1.06605
• Monthly Seasonal analysis shows DXY remain Bullish in January 60%.
• EXY remained Bullish in December 2022 which indicated to a point that seasonal are working so far.
• Weekly Seasonal Analysis show EURUSD remain Bearish in 3rd Week of January
• DXY is at a significant Support Zone 103.780 from where a bounce back is possible.
• Slight Divergence spotted on ChandeMO Oscillator on EXY .
Bullish Indications
• 4hrs time-frame Higher Highs and Higher Lows formation.
• 4hrs time-frame Three White Soldiers candle pattern.
• Significant Support Zone at 1.06322
• EXY is in a Bullish Trend on Weekly Time frame.
• Weekly Seasonal Analysis shows EURUSD remains Bullish in 2nd Week of January.
• On Weekly timeframe DXY price action show an inverted hammer candle which indicates sellers are in control.
• Traditionally EXY and DXY are negatively correlated.
Biased : Short
Trade PLAN (Short)
Entry: 1.06556 (Fib Lvl 78.6%)
TP: 1.05711 (Fib Lvl 38.2%)
Stop Loss: 1.06881 ( Support area / Higher High/ Fib Lvl 88.6%)
Risk/Reward: 1:2.39
N.B.
Manage your Risk Accordingly.
EURUSD rallies to be capped by 0.9800.EURUSD - Intraday 9pm UK expiry - We look to Sell at 0.9814 (stop at 0.9880)
The primary trend remains bearish.
A bearish Head and Shoulders is forming.
We look for a temporary move higher.
Resistance is located at 0.9800 and should cap gains to this area.
Preferred trade is to sell into rallies.
Our profit targets will be 0.9667 and 0.9600
Resistance: 0.9800 / 1.0200 / 1.0400
Support: 0.9660 / 0.9400 / 0.9200
Risk Disclaimer
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EXY Too Many "Random" Things has Happened.The price action appears to contract on the macro level but if we take a look at each swing from a geometrical point of view we have so many textbooks events that lead me to the idea that we might have finished something here and we are going back into the contracting area which eventually we'll reach the apex when we decide which way we are going in terms of trend. (This can happen earlier, of course, we just use the apex as a reference.)
We might have a reaction from here or not but breaking the white trendline it's quite a significant event for me so I will keep a close look on that one. (Obviously, the next chance will be when we test it from below in the case that we break it.)
Euro Currency Index (EXY) Analysis 10/03/2021there exist a very steep Bearish Divergence between the price and MACD and Its Histogram, which is the sign of trend reversal.
the price has already broken the low bond of the ascending parallels Channel where it was rallying earlier.
price has retested the Support line and it didn't stand after the second attempt and now turned to resistance, which is a very important sign of the trend change and index fall
we can target the golden zone of the Fibonacci retracement of the impulsive wave in order to find the depth of the price correction and retracement.