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Forex-currency

EURUSD: Is this the long term chart we should focus on?EURUSD has been practically trading sideways since November 2018, with however relative bearish bias since 1W is on Lower Highs (RSI = -40.078, MACD = -0.008, Highs/Lows = -0.0063, B/BP = -0.0113). Our attention is currently expanding on the larger 1M time-frame where the bearish long term sentiment is clearer. STOCH, STOCHRSI, Williams are all oversold, and as seen on the chart the price is currently near a Lower Low and has in fact been trading on the lower band (below median) of the Channel Down. The oversold stochastic state comes as no surprise then. Despite the fact that 1D is a Channel Down (RSI = 38.591, Highs/Lows = -0.0053) we should start shifting our focus towards buying again and although 1W/ 1D still have potential for a Lower Low at 1.1130, we will be targeting 1.1300 and 1.1380 in extension. We shouldn't overlook also the probability of a break-out above the median (but still within the Channel Down), as the pair has been trading so long below it. Don't ignore the fact that the price action for the past couple of months or so, is a balance of power (supply intervention) between the two central banks (the ECB and the Federal Reserve). This is what has been causing the Lower Highs and Lower Lows inside the technical bearish channel. If that channel breaks downwards then we are looking very realistically at a 1M Gap Fill to the January 2017 1.0342 Bottom. See below our previous studies on selling and buying the Highs and Lows of the current Channel Down: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
3
GBPNZD: Buy opportunity on 1D.The pair is trading within a 1D Channel Up (RSI = 52.233, MACD = 0.004, Highs/Lows = 0.0000). The candle sequence is repetitive inside the pattern and that allows us to make the estimate that the price will rebound on that (inner) Higher Low (maybe a near double bottom) towards a new Higher High. TP1 = 1.9600, TP2 = 1.9800. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Long
by InvestingScope
GBPUSD POTENTIAL LONG (HIGHER TIMEFRAME VISION) GBPUSD FUTURE UPSIDE POTENTIAL WHEN TAKING A LOOK AT GBPUSD ON THE DAILY AND WEEKLY TIMEFRAME, BASED ON THE MOMENTUM THE MARKET IS SHOWING ME I CANT HELP BUT THINK OF THIS MAKING A MOVE TO THE UPSIDE. THE MARKET IS SITTING AT WEEKLY CYCLE LOWS AS WELL AS A LOW POINT IN THE MARKET. ITS BEEN HAVING LARGER RESTS BY THE BUYERS AND SELLER ALLOWING FOR LARGER RESTS TO THE UPSIDE. RECENT MOVEMENT ON THE 4H AS WELL AS DAILY TIMEFRAME ARE SHOWING HEALTHY BUYER MOMENTUM. KEEP YOUR EYES OUT ON THIS PAIR AND FOR POTENTIAL MOVEMENT TO UPSIDE. WILL BE A LONG PERIOD OF TIME BEFORE POTENTIALLY HITTING TARGET ZONE MARKED ON THE CHART. CHEERS! PLEASE LIKE AND FOLLOW MY PAGE FOR MORE PROFITABLE ANALYSIS
Long
by JosePips
USDCAD: Strong sell signal.The pair has already given back the gains of the past 2 weeks after making the 1.3664 Top. On the 1W chart we see a specific pattern that is followed on the long term bullish channel since September 2017 (1M RSI = 58.115, MACD = 0.013, Highs/Lows = 0.0263). Every rise to a Higher High is approximately +7% and after every such top a decline takes place within -4.50% and -5.00% to form a Higher Low. Based on this sequence we expect USDCAD to complete another pull back of at least -4.54% before resuming the Channel Up. Our short TP is 1.30400. The horizon can be 2 - 3 months. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
1
EURUSD Looking for short#eurusd #dxy #usd #forex EURUSD approaching the 76.6% - 88.6% retracement of the prior range. Let current price break the high one last time before drawing a confirmed trend line across the trend lows. Once price breaks this trend line, we should see price challenge the following trend line and either find support or break through. Yellow projection: Preferred scenario is for this to dive through the second trend line, retest and take the drop to break the prior low. Teal projection: Price could continue higher and break the high before any signs of shorts. The risk: Keep your stops above 88.6%, if it closes above this will most likely break the high.
Short
by TradersMission