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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
DXY - Weekly Chart AnalysisRecent price action: Bullish Pattern: Potential inverse head and shoulders. Long-term momentum: Bullish Short-term momentum: Bullish Bias: Long Action: Ride current U.S. trades to weekly resistance, sell, then rebuy after price finds support again. Would be nice for price to retest 29 EMA for support. Comments: Price is finally trading above all EMA’s. Price is approaching an area of resistance that has held almost one year (late June/early July). There will definitely be a rejection there, but after price finds support, continue the buying.
TVC:DXYLong
by tradingwithyg
DXY - Monthly Chart Analysis, Potential 10% MoveRecent price action: Bullish Pattern: Potential inverse head and shoulders. Price would have to reject off weekly resistance, find support near daily support, and move back above weekly resistance. Price has also broken out of its corrective phase. Long-term momentum: Bullish Short-term momentum: Bullish Action: Ride current U.S. trades to weekly resistance, sell, then rebuy after price finds support again. Would be nice for price to retest 29 EMA for support. Comments: Looks like strong bullish momentum. I would like to see price test monthly support by end of year if momentum holds. That would equate to roughly a 10% move.
TVC:DXYLong
by tradingwithyg
Simple profitable trading strategy!!I am posting this chart in order to show you how easily you can take profit of the market if you keep the analysis simple. You don' t need many indicators that could make you confused. In other words KEEP YOUR CHARTS CLEAN. Then you would be able to understand in depth what you cant see in a messy chart. As you can see, first we have a strong bearish move. So then we expect a retracement that is placed exactly at 0.38. Now i want to show you the importance of 1.2 fibo extension. In my opinion it is the most important level. It is clear that the price is always lookng for that level before having a retracement. When the price is above MA50 we expect it to reach 1.2 fibo extension that could be your target level as well. DON'T FOERGET. KEEP YOUR CHART CLEAN. Thank you for your time!!
Education
by kostas24
GBPCHF (Stall Neutral)GBPCHF has reached critical resistance in our view. Current price structure suggests upward move that began on the 16th of March 2017 may have amounted to a protracted correction and may be in the process of topping out. Our main bias is now to the downside and we look for any daily price close and penetration below zone bounded by red and black upward sloping trendlines for short entries till around 1.19118 over most likely, some weeks. Further penetration of 1.19118 should bring 1.11995 area into sharp focus also over a few weeks. On the other hand, any daily price close above 1.31927 is expected to bring a protracted 1.41615 into sharp focus on the upside also over some weeks.
by magbrr
GBPUSD (Long) TradeGBPUSD is proving equity is currently flowing into UK against major currency pair as this pair is tracing out a bullish structure. Current price action is well below key resistance zone of 1.31899/1.32922 and may have been overbought. Our view is that there is strong case for price retracement going into the week. However significant retracement is expected to be contained at 1.26612/1.26376/1.25788/1.25552 cluster support zone. Further penetration of said confluence support should bring further downside to 1.23551/1.22962 support zone. Nevertheless, it is our view that retracement should be contained by black upward sloping trend line shown and after which a bullish engulfing candle, morning star, hammer, shooting star or three soldiers candle pattern should be trigger for long entry till key resistance target of 1.31899/1.32922 area.
Long
by magbrr