EURUSD Neutral Monday! Waiting for market sentiment!The pattern triangle was crossed to the bearish
direction, however there is no strong fundamental
support for strong dollar as FED's Jerome Powell's
speech was dovish last week. We need to wait
during Monday and figure out market sentiment,
this is now crucial to make weekly trading decisions.
Targets:
Resistance N2 - 1.1880 market open for this week
Resistance N1 - 1.1836 (Daily low for July 12)
Support N1 - 1.1770 weekly low price for this week
Support N2 - 1.1711 Monthly low
News US to follow:
10:00 German Buba Monthly Report
14:00 Housing Market Index
Traning
EURUSD is in controversial mood but with clear targets On CPI news yesterday dollar has gained a bit to
1.1770, however this is very short term impact
on the market. To short EURUSD (Bet on dollar)
we need more arguments as economic
situation in the Eurozone is also positive.
1.1880 is an open price for this week.
At this stage it one of the most important
target for buyers
Check out the pattern Trend Channel by T1 and T2
trend lines, based on theory price can reach point 5
(1.1880) which can be a good signal to long EURUSD
Targets:
Resistance N2 - 1.1880 market open for this week
Resistance N1 - 1.1836 (Daily low for July 12)
Support N1 - 1.1770 weekly low price for this week
Support N2 - 1.1711 Monthly low
News US to follow:
12:30 Producer Price Index (PPI)
16:00 Speech by Federal Reserve chair Jerome Powell
How I Find Trends In Markets Finding Trends in the market is a tool needed to stay on the right side of the trade.
Here I attempt to help you out by giving some tips that I have found through my 7 years of looking at the charts.
I have noticed that while the focus is on the avg close of the markets that isn't where trends take place in fact aiming for the avg is a good way to continuously lose on trades. In the video I show how to place trades based on the extremes Highs and Lows to aim for better returns while providing my insights on why looking at the market in these terms is better than standard way of looking at markets
Turkish lira - correction !Turkish lira is near to its end, bow trading at 6.1096. Long term technical analysis shows corrections of this trend to S1 support level 5.9880, next target can be S2 level. This levels are calculating based on long term fibonacci retracement, also confirmation fo our analisys can be pattern wedge with trendlines T1-T2. Crossing of T1 will be a signal to sell USDTRY.