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EUR/USD - The Middle of the Battle - BULLS or BEARS???I analyzed this chart with the intention of helping you see the bigger picture of where the overall currency pair is heading. The Euro looks like its in a uptrend but it also could be in turn for a downtrend. In my educated opinion, I think the currency pair holds strong bullish sentiment and is riding to some higher highs unless some economic events unravel (inflation, unemployment, etc... cough* cough*). A look at the pairs historical support and resistance levels helped me to better understand where this pair is heading. From the Red Line at about 1.035 to the current exchange rate at about 1.22 the difference is 0.185. Add 0.185 to 1.22 and you get 1.405 right about where that heavy resistance green line is located. So currently you are right in the sweet spot; the middle of it all. The price will either move up and stay in trend or retrace down back to support but like I said I think the Euro may be heading higher than the US Dollar. I also could be wrong but that's my sentiment. Also, I Incorporated yellow lines to keep you wary of these levels. These lines according to my calculations will be points of where many traders will be making trading decisions due to economic events, technicals analysis or whatever it may be but these points will experience a high level of volatility so be careful. Key Tip: Take some time to look at the bigger picture instead of what's sitting right in front of you. Good luck trader. P.S. If you liked my idea please share it and help the next person in need of trading advice, thank you!
Long
by austinlmkc
AUDNZD, waiting for good buy setupsPrice is testing, the 27.2% (Horizontal Blue line) of the Historical Monthly fibonacci, which has been a hard level to hit, once price corfirm above that level and break the down counter trend line, we can expect a bullish move to the next Fibonacci level 38.2 for a 400 pips 1st target, if it goes down, it could re-test the 1.095 price level to get the force to start the bullish move. my preference, is long positions above 1,105. AUDNZD is in the daily buy zone, acccording to the 120 EMA. Only Lows to Buy on 1H y 4H,
by mrluismi
potential short on USDJPYHey traders Here we have a potentially nice setup forming. Price has reversed within the 50.0% & 61.8% fib retracement. Price has reversed on previous structure formed earlier this month. Multiple lower lows and lower highs forming. MA lines have crossed showing a change in trend on the hourly chart. RSI has touched the 30% oversold mark previously but selling has continued to keep price bearish. I know some traders have already entered this trade, however i'm going to wait until price moves below the current structure zone it sitting on, this move may only be a matter of hours. So potentially enter around:112.75 TP1: 112.00 TP2: 110.00 SL: 113.50 Good luck traders, let me know your thoughts. Plan your trade, trade your plan.
Short
by Frankyfnz