M6E1! trade ideas
Technical Setup on EURO but CAUTIOUS ahead of NFPTechnical Analysis
After a modest rally, this week following Dollar weakness the Euro has a confluence of important technicals indicating possible weakness.
1) A retest of previous channel structure which has acted as important support and resistance over 3 months.
2) A retrace to the golden fib ratio 0f 50-61.8% (1.19200 - 1.16350)
3) Momentum divergence which can also be seen as playing out well earlier this week
4) Looks to currently be printing a bearish pin bar candlestick pattern
5) The daily 20MA lines perfectly as resistance
Fundamental Analysis
With NFP tomorrow, I will be hesitant on placing a significantly large trade size at the moment
However, I am expecting further risk-off sentiment heading into November, as investors look to reduce exposure on assets shifting towards currencies and Gold which could indicate further EUR bearishness into the month
Brussels suing the UK over plans to violate Brexit withdrawals - political uncertainty may cause a reduction in investment flows
DAILY ANALYSIS OF euro fx futures Hi friends
the daily chart of this market shows that it will experience with a high probability an uptrend in the coming days but also we must be vigilant of the change of direction towards the opposite
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(6E) !!! neutralif the (6E) breaks the vwap and the first resistance it will go up . so if you have a suggestion or advise , let it in the comments
and if you liked my analysis break the like button
Dollar/Euro Future (6E )could have chosen a new target (1.16845)Hello all,
After spending the whole summer in the Fibonacci 61.8% zone of of the previous short segment (Red Fibonacci Retracement) and most Important, we also have confirmation of the strong short volume in daily candles (Upper Indicator).
The future of the Euro Dollar seems that you have a good chance of looking for a correction to the Fibonacci 38.2% (1.16845), current trend (Green Fibonacci Retracement).
Everything is statistical probability...
Have a good trading
Xusto
Is that it for the EURO?? Speculators seem frustrated that the Euro is not rising any further. Hedge Funds and other big institutions cut their bullish Euro bets by a whopping 9.3%. EUR net long positions now at 178,576, lowest since July. Technically, that could be a possible rounded top reversal pattern.
BUY EURO NOW (6E ; EURUSD)I recommend to buy EURO Futures (or EURUSD Forex) now.
There is a high probability that the market is bullish.
GOOD LUCK !
SELL EURO TODAY (CRITICAL LEVELS AS TARGETS)Hello Community !
Since yesterday, the EURO broke the supports and went on a downtrend.
I strongly recommend to sell EURO today and WATCH the blue levels as they strongly represent zones where the trend can be REVERSED.
GOOD LUCK !
EURO ENTRY POINTS AND TRENDHello community !
EURO FUTURE (EUR/USD) is on an uptrend.
To buy EURO now is more profitable than to sell.
Wait for the best entry price when the market makes a PULLBACK on the PITCHFORK LEVELS.
6E Downfall of Price is Supported by Eisting Bullish Position1. The existing long position that had placed or accumulated at heavy transaction price zone will protect their long position when price retrace near to that zone.
2. The smart money place for short position will potential take profit (i.e: buy order) above the heavy transaction price zone
Both above accumulated lots of buy order to fueled the bullish momentum to the next spike.
Coming sell in EUR. Explained Early this week the market can test 1.1630 and later bounce for a few days to form a signal for sellers. There is no need to hurry and pick up a trade now. Let the market do its thing and form some pattern to get clear entry with a good risk/reward ratio. The main reason for potential weakness is the bullish setup in DXY. I made a post about it. Below you can see a summary of DXY analysis
We have discussed previously a potential rally in the American dollar. Now we are getting really close to the potential entry. However, accumulation is weak. That means it will take another week or two to get a signal. Accumulation builds momentum. That’s why it is so important. We have very strong fundamental setup for DXY rally:
COT – commercials are heavily long
Evaluation model – the dollar is undervalued
COTSI Index – very high
Intermarket forecast – upside.
We need a technical signal to confirm the coming rally. It always takes some time to get one once we have a fundamental setup. So, likely we will see a bit more of a rally coming in a few sessions, followed by a pullback. It will give the dollar enough time to build momentum and form a signal to go long.
6E Day TradeMean reversion day trade on the 6E. Entry @ 118015; Exit 118095. I expect that price will come back to 118500
Back to downtrendMy previous idea from 28.05 worked perfectly, but now it's time to change the side. Here you can clearly see a very strong downtrend and a potential resistance level somewhere around 1.18-1.19. So, I would recommend shorting from these levels. BUT, since DXY index is still going down and in general there are no signs of a reversal yet, I would wait until DXY hits 92-93 and then open short on EUR/USD. SL 1.20, TP 1.14-1.12-1.09.
EURO WILL PROBABLY BREAK THE HISTORICAL RESISTANCESWe notice that the EURO on its monthly chart is bullish and is trying to break the historical resistances.
The Bulls are determined as we can see a big green monthly candle approaching the intersection of the resistances.
There is a high probability for the EURO to break the resistances, probably come back to make a pullback on it and go higher to reach the historical peaks.
I recommend to buy EURO ONLY AFTER BREAKING THE RESISTANCES.
TRADE 6E EUR/USD FUTURE AT RECTANGLE BREAKOUTI recommend to trade the EUR/USD FUTURES (or FOREX) at the rectangle breakout.
