Potential continuation of bearish movement as I believe the trend will rebound from daily support line
Current trend approaches the weekly support which I believe will cause a potential reversal as RSI indicates oversold as well as MACD
Potential continuation of the trend, however, could break 0.382 fib level into a bearish move
Potential rebound off weekly support line with a rally towards the monthly resistance or a breakout of the weekly support in the future
Changed my bias towards the eurodollar at the end of Friday's close after i got completely stopped out. first technical loss but i went back to the charts to see where i went wrong and i realized that i didn't look at the smaller time-frames. But lesson learnt. So i went back to the drawing board on Sunday and spent quite a few hours analysing. Wrote most of my...
So, EUR/USD broke april support level creating a lower low for the month with a shooting star followed by a bearish engulfing. Im expecting a slight pullback at 1.11445 to around the 1.1170's area before a continuation towards the downside. Pair is currently sitting on the 0.618% retracement also commonly known as the pivot on the retracement. i've set a few take...