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EURUSD [Weekly] Two possible bullish scenariosAs you can see on the weekly chart bulls have two possibilities to recover towards end of the year and probably this week events ( elections + FOMC ) may create opportunity ( it's related to prevous DXY analysis here ): 1. Based on the last two weeks PA swing low around 1,13 might be in place ( would be great to close above last week high ) or... 2. Full manipulation into election/FOMC with stop hunting down towards 1,1240/1,1200 with strong rejection.
Long
by LandofTrading
DXY [Weekly] Ahead of elections and FOMCLast week extremes ( high and low ) are going to be very important for both sides. Mid term elections in US on Tuesday and FOMC on Thursday ( no change but statemnt as key ) could give Us few hints about dollar near term future ( where we are going to be at the end of the year ). Bulls: "thank you NFP" , bulls used better number as excuse to avoid damage on weekly chart but that might not be enough. To gain momentum we need to go through and close above last week high which will open they way towards 98,60/99,80 Bears: may try to " play the stop hunt game " based on last week high ( as stop zone area where we saw rejecton ). So possible supply around 97 zone to try to build swing high, confirmation on a weekly close below last week low.
TVC:DXY
by LandofTrading
[DXY] How to use Fibonacci IndicatorHi guys ! This a simple chart with a explicit Fibonacci Indicator. Many people asking me how to use it, it's easy, have a look. Story : Fibonacci was an Italian mathematician (1175 - 1250). He discovered this number sequence like this: Each numbers is calculated by adding the two previous numbers, for exemple : 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89... The special thing in this sequence is that every numbers is 1.618 of previous and 0,618 of next one. And as you know, 1,618 is the "Gold number" . (Hope my english is not too bad haha) 1 - Choose a higher and lower price (downtrend) or lower and higher price (uptrend) 2 - Fibonacci will retrace different line at 23.6, 38.2, 50, 61.8, 78.6 and 100 % 3 - Theses line will be the next supports / resistances in the correction / bounce You can use it to place the best order (BUY or SELL) and make more profit. Ask me for any questions ! Thanks for your time.
TVC:DXYEducation
by AnthoXBT
Education post 1/100 - How to trade pin bars?The Pin Bar Setup I bet you have seen many pin bars on your Forex charts. Maybe you haven’t been aware that you are looking at a pin bar formation, but you most likely have come across this candle on the chart Bullish Pin Bar A valid, tradeable bullish pin bar is located at the end of a bearish trend and its lower candle wick goes below the overall price action. If you spot a bullish pin bar setup on the chart, this will setup a nice opportunity for a long position. Bearish Pin Bar The same is true for bearish pin bars but in the opposite direction. The bearish pin bar is located at the end of a bullish trend and its longer candle wick is the upper area. In this manner, the longer wick is sticking out above the price action. The bearish pin bar is usually a good sign of an upcoming price reversal in the bearish direction.
Education
by GroundStoneHoldings
EURUSD...WHAT NOW?If we look to the DXY idea we expect USD weakness. The DXY is made up of 58% EURO. Which is why there's a heavy correlation between the Index and the currency pair. If we expect USD weakness we must expect EURUSD to move higher, price is currently sitting at the key support much like the DXY sitting at the $95.00 resistance level. If price holds at this key level of 1.1600 price could see further upside into the key resistance of 1.2040. A break below will cement the USD strength moving forward. Seasonally through July the USD usually sees weakness strengthening our idea for a retracement for the USD and EURUSD prices moving higher.
Long
by ColmoreFX
EURUSD - Monthly AnalysisRecent price action: Bearish Pattern: Potential head and shoulders Long-term momentum: Bearish Short-term momentum: Bullish Bias: Short Action: Stay in the trade until price hits weekly support then close the position. Price needs to correct and find a area of resistance. Only after there is a strong bounce off that level consider taking short positions again. Comments: Closely correlated with DXY index. Price is forming a inverse and and shoulders. If the pattern completes there I expect EURUSD to follow.
Short
by tradingwithyg