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EURUSD 27.05.2020Hello traders, As we can see on the chart, the price has been rejected two times already from the Resistance trendline near the 1.10 psychological number and heavy resistance as expected from the yesterday analysis. What is seen on the chart now is that the price reached a region from where it pushed back up and if it holds above these long wicks the EUR/USD pair could see higher prices and eventually break the 1.10 resistance that hold for so long now. Please remember that this is not financial advice in any way and it is meant only for educational purposes. If this helped you in any way feel free to leave a like.
by monssonalma
EURUSD 25.05.2020Good day everyone! On EUR/USD pair we see that the price has been rejected nicely from the downside since my last post at this particular level. Now, the pair is heading towards the 1.10 major resistance level which was tested in the past several times and could not brake it. Maybe with the depreciation of the US Dollar it will manage this time. If it could get past the 1.10 psychological number, the next target would be near 1.115 range. I wish you all a great day in trading! If this helped you in any way, feel free to like this idea.
by monssonalma
EURUSD Range AnalysisHello traders, I am just sharing my thoughts about EUR/USD pair and at this point price can go either way Up or Down. As it is shown on the price chart we are exactly at the middle of the range where we found a support based on previous candles tops and several bottoms at this particular price level. I personally am more inclined to think that the price will test one more time the 1.10 price level resistance because of the EU statements about relaunching the economy and countries such as Spain, Italy and Germany which wore the most targeted by the new Corona Virus, now are showing less confirmed cases per day, and another reason for that is because the bullish scenario is the path with the least resistance on the way. And if it will fail again to breach the 1.10 resistance price level, it will head towards the Lower Support level as shown on the price chart at 1.07764. Have a great weekend everybody and stay safe ! If this helped you feel free to give a like :)
by monssonalma
NZD/CAD – Volume Profile 👨‍🏫Today, I would like to have a closer look at NZD/CAD. What caught my eye here was a strong sell-off that occurred last week (13th May). Such a strong sell-off is a sign of aggressive sellers jumping in and pushing the price downwards. In this case, it is pretty easy to spot where those sellers were accumulating their selling positions before they started the aggressive sell-off. Price Action Price Action shows that there was a rotation before the sell-off started. Such a rotation is an ideal place for position accumulation. The reason is that in a rotation those sellers could easily hide their intentions (of starting a sell-off) and slowly, unnoticed accumulated their short positions. Volume Profile If you look at the Weekly Volume Profile (on the left) then you can see massive volumes accumulated exactly in that rotation area. In fact, the heaviest volumes throughout the whole week got accumulated there! (= Weekly Point Of Control). After those volumes got accumulated → BOOM! A sell-off! It is this sell-off where the sellers were making money. Now the price is slowly retracing back into this area (to test the Weekly POC at 0.8548). I think that it will work as a strong resistance and that those sellers will want to defend their short positions. It is likely, that they will start selling again and try and push the price downwards again. I hope you guys liked today’s analysis! Let me know what you think in the comments below! Happy trading! -Dale
by Trader_Dale
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