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EURUSD: Two Resistance to Watch Next Week 🇪🇺🇺🇸 Hey traders, As I earlier predicted, EURUSD nicely bounced from a key weekly support level. Even though that Friday was quite bullish for the pair, you must remember that the trend still remains strongly bearish. To catch a trend-following move, here are two resistance for you to watch next week: Resistance 1 is based on a trend line that the price started to respect since June. Serving as a strong support for a very long time it has been broken recently. Now it turned into a resistance and from that, I will look for a confirmation to sell. Resistance 2 is based on a trend line matching the lower highs on a 3 days chart. Three times in a row we saw a strong selloff from that. Wait for its test and look for a confirmation to sell. If you are looking for buying opportunities and you missed a pullback from the underlined blue support I would suggest staying away from trading the pair for now due to a strong dominance of sellers. ❤️Please, support this idea with like and comment!❤️
Short
by VasilyTrader
17
USDMXN to Rally to 22Trend Analysis The main view of this trade idea is on the 2-Hour Chart. The forex cross USDMXN is currently in an ascending triangle setup with resistance observed around the 21 price level and the support trend line seen around the higher lows of 20.12 and 20.25 respectively. Expectations are for USDMXN to rally towards the 22 price level. Failure of this move will be seen if USDMXN declines below 20.25 On the longer termed Daily Chart USDMXN is trending higher, with the next level of resistance observed around 21.50 Technical Indicators There has been positive crossovers on USDMXN’s short (50-MA), medium (100-MA) and long (200-MA) term fractal moving averages. USDMXN is also trading above these respective MAs. The RSI is above 50 and the KST is in a positive mode. This indicates a bullish move in USDMXN. Recommendation The recommendation will be to go long at market, with a stop loss at 20.25 and a target of 21. This produces a risk/reward ratio of 1.75. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time of publishing I have exposure to USDMXN.
Long
by Ceddy86
NZDUSD LONGS, CHECK OUT MY ANALYSIS AND FOLLOW ME UP :)Here we have a descending trendline which price has respected, one previous breakout occurred however it was a fake breakout. We are also seeing lower highs and lower lows forming with price currently making a new lower low at a previous resistance level at - 0.69200 and this is where price began to become bullish and our moving averages were also bullish on the 1H time frame, all giving us extra confluence that price will be making a new lower high and potentially at the trendline.
Long
by FOREXWITHD
2