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EUR/GBP: detailed chart breakdown. What to expect this week?Setup #1 : EUR/GBP As we can notice from the graph, the price has had a massive bullish run to the upside. We also know that after an impulsive move, a correctional one is needed. At the moment, the price is forming a top at the area of resistance that is illustrated on the chart before charging up for bearish moves. A double top pattern has been formed, which means people have already started executing short positions. Zooming in, we can see how the price is attempting to pullback and re-touch the same level before potentially dropping. Thus, we are gonna closely monitor the price action, give some space for development, and execute once enough confirmations have been provided. Our Target Profit will be set at the previous level of resistance that lines up with the 61.8% Fib.
Short
by Investroy
32
EURCHF: 2 Scenarios For This Week Explained 🇪🇺🇨🇭 Update for EURCHF pair. The market is nicely retracing from a key daily structure resistance. Analyzing a price action on multiple time frames, I see 2 potential scenarios: Bullish If the price breaks 0.979 - 0.982 daily supply area and closes above that I will expect a bullish continuation to 0.987 / 0.9915 levels. Bearish The market is trading in a global bearish trend and may drop from the underlined blue resistance. To catch a trend-following trade from that, watch a triple top formation on 4H time frame. 0.9755 - 0.9765 is its horizontal neckline. If the price breaks and closes below that on 4H, I will expect a bearish move to 0.9727 / 0.9711 levels. Breakout will clarify the future direction of the pair, so be patient and wait. What scenario do you expect? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Short
by VasilyTrader
6
USDTHB is in possible buy zone!!USDTHB( D ) is moving in a strong up trending market. creating a series of higher high and higher low. Currently, the price has just tested daily previous swing high previous resistance as support and it is weekly 50% fib level. On a daily there is a strong rejection candle has formed. It is a high probability that USDTBH will continue to rise from this level in the new trading week. Thank you for visiting this idea. Press the like button if you find value in this idea :)
Long
by ForexWizard01
USDCHF: Your Detailed Trading Plan 🇺🇸🇨🇭 USDCHF is coiling on a key daily structure support. To buy the pair with a confirmation, watch a falling wedge pattern on 4H time frame. Your trigger will be a bullish breakout of its resistance line (you need a 4H candle close above strictly). Then, buying on a retest, your initial target will be 0.957. If the price breaks a blue zone to the downside, the setup will be invalid. ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Long
by VasilyTrader
6
20 Strong Reason for short NZDUSDUpdate 27/07/2022 1 Structure 1/2 : bullish to sideways down 2 imbalances :target marked 3 Current Move 3: impulse 4 Entry TF : D1 4.1 ETF Structure: Bearish 4.2 move : Correction CIP 5 CIP 6 FIB: strong rejection at 50 almost done 7 candle Pattern: Up Momentum but not able to break resistance 8 Chart Pattern: Falling wedge Resistance 9 Volume : Very high on reversal 10 Momentum: Bearish to side ways 11 Volatility : Somewhere bullish 12 strength: curve bearish in bearish 13 Sentiment : weakest in commodities driven 14 Final conclusion: for refine your entry you also need to switch your tf in d1 to h4 15 Buy /Sell/Wait : Sell 16 Entry: 0.6225 17 Sl: 0.6255 18 Tp: 0.5856 19 Risk to reward Ratio: 1:17 Excepted Duration : 15days
Short
by Optimum369
Trading Sessions in Forex | Trading Basics 🕰🌎 Hey traders, In this post, we will discuss trading sessions in Forex. Let's start with the definition: Trading session is daytime trading hours in a certain location. The opening and closing hours match with business hours. For that reason, trading hours are varying in different countries because of contrasting timezones. ❗️Please, note that different markets may have different trading hours. Also, some markets have pre-market and after-hours trading sessions. In this post, we are discussing only forex trading hours. The forex market opens on Sunday at 21:00 GMT and closes on Friday at 21:00 pm GMT. There are 4 main trading sessions in Forex: 🇦🇺 Australian (Sydney) Session Opens at 21:00 GMT and closes at 06:00 GMT 🇯🇵 Asian (Tokyo) Session Opens at 12:00 GMT and closes at 9:00 GMT. 🇬🇧 UK (London) Session Opens at 7:00 GMT and closes at 16:00 GMT. 🇺🇸 US (New York) Session Opens at 12:00 GMT and closes at 21:00 GMT. Asian trading session is usually categorized by low trading volumes while UK and US sessions are categorized by high trading volumes. Personally, I trade the entire UK session and US opening and usually skip Australian and Asian sessions. What trading sessions do you trade? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
Education
by VasilyTrader
2
EURUSD BULLISH OULOOKThe common currency of the European Union, EUR, is gradually moving away from parity with USD. Investors were moving away from EUR due to the uncertainty with the situation in Ukraine and due to the refusal of ECB to increase interest rates. . US, being one of the first to increase its interests, have lured investors to invest in USD, but now the sentiment is shifting, after hawkish rate predictions from ECB and the news that the gas will start flowing as expected and potential energy crisis might be avoided. RSI indicator has escaped the oversold area and MACD's histogram is above 0 level for the first time for more than 2 weeks. Although reaching the levels of May is not likely in the near term, the pair might try to reach levels of 1.04 On the other hand, if this predication does not come to fruition, USD might try to reach parity with EUR again. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carries a high level of risk. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and on such sites. Furthermore, one understands that the company carries zero influence over transactions, markets, and trading signals, therefore, cannot be held liable nor guarantee any profits or losses.
Long
by legacyFXofficial