Frano_Grgic

Frano_Grgic

Previous week analysis talked about price having a hard time to break below $1.07825 after moving down to the demand zone. After reaching the lower level of the demand zone price reversed and moved upwards touching the supply zone around $1.08846. On Friday price followed bearish Pin bar signal and closed the day below previous daily candles. The next target is...

Frano_Grgic

The price reached the target from previous analysis where I was talking about $1.07825. Tuesday was the day when the price broke below $1.08846 which was a signal the price will move to the next support level, $1.07825 Since we have a strong demand zone around $1.07825 which made the price bounce up on Thursday we could see the price making a retrace from the...

Frano_Grgic

In the EURUSD previous analysis I have mentioned the price is targeting $1.09860 and the price done that. And if the price breaks below that price we could see the price heading down to $1.08846 if the $1.09860 is broken. On Friday the price broke below even more and almost reached $1.07825 which was mentioned in the previous analysis as a potential target if...

Frano_Grgic

Monday was the day when the market made a decision where it will move for the whole week. We can see a bullish Pin bar formed on Monday on the $1.09860 support level. Thursday ended as a bearish engulfing candle which closed below $1.10755 support level. That was a sign the price will move further down We have a $1.09860 support level as the next support level...

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If we check previous analysis we can see I have mentioned several things. First one is that we could see the price returning back down to $1.09860 which is support for the price. A nd the price has done that. The price formed a bullish Pin bar on Tuesday which was a signal to enter into the market. How the previous week ended the price suggests further decline...

Frano_Grgic

On Monday the price made a bullish candle with a large wick on the upper side next to $1.09860 resistance. On Thursday we can see the price making new highs and closing the day above $1.10755 resistance level which is a strong signal. Because the price has broken above a strong confluence of resistance and managed to close the day above we can prepare for a...

Frano_Grgic

On Monday the price continued to move down and reached an area of supply close to $1.07825 and bounced up. The move up was more retrace than a bounce because the price has reached all two levels I have mentioned, $1.07825 and $1.09860. The reason is in the demand zone close to support $1.07825 which had lots of buyers waiting to enter into the market. On the...

Frano_Grgic

We now have again small bearish Pinbar suggesting we could see price pulling back down to the first support level at 1.12086. Yesterday we had small bearish Pinbar that pushed the price back slightly before moving up. Today could be the same case. Today is Friday that could cause price moving more down to 1.12366. Friday is the day when traders like to get out...

Frano_Grgic

Bulls are controlling the market for now. There are no bear strength that could mess their goal from pushing price higher. Strong bullish candles over smaller bearish shows us that we could see price more higher. The next resistance is at 1.12806. Current bearish Pinbar could make a small pullback to 1.11871 level where it could find support for further move up.

Frano_Grgic

Price currently looks very bullish even it is right on the confluence level. If the price does not break out more up we could see moving sideways and trying reaching 1.12366 level which was strong resistance in the past.

Frano_Grgic

From this points where the price is right now we should wait for bulls if they can manage to break weekly trend line reach resistance at 1.11871. If the can do that we could see price making pullback to weekly trend line and moving further up to 1.12321 level. Bears have more job to do to regain the strength they had in previous weeks. Their first strong support...

Frano_Grgic

Bullish Pinbar that has appeared on the pullback after breaking channel trend line tells us that the price could find its way up. Pinbar in this case acts as a confirmation of a break out, where the price could continue further up. In this case it is best to wait for the next candle to form and show us the current strength of the bulls.

Frano_Grgic Updated 

Today is Friday and it is a day when I do not want to trade to much. From this point price have a chance reaching next resistance level at 1.11091 if bulls can find strength. There is also a chance we see price pulling back to the support level 1.10373 if the bulls move out from the market.

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Yesterday was a day when the bulls have pushed the price through resistance level that was holding price since 14.04.2020. Back then it was the first time price have tried to break this resistance and failed. Today we will see will the price make a pullback to 1.09860 level which now is acting as a support level. Price could make a pullback before trying to break...

Frano_Grgic Updated 

We have now price bounced from the resistance line at 1.09860 where candles look like the bulls have much more strength. Bounce has been realized with small bear candles which does not give to much confidence in the bear strength. That is why we should watch for the bullish price action signal.

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Current H4 candle have managed to close above previous H4 candles close. Close is above resistance level, 1.09028 and it happened just after small H4 indecision candle. This could mean we have possible break out from the small range where consolidation is. While daily trend line is just above we could see a little harder way up for the buyers.

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Currently we have H4 bullish Pinbar on the support level which suggest we could move up. Support level is the upper side of the previous range area which is acting as a strong support level. This Pinbar price action signal could have ground for moving up the price to the daily trend line resistance.

Frano_Grgic

Price is back in the wedge pattern and it is on the support level. H4 chart closing price tells us that the price is gone down enough to make a test move back in the previous range area. This could happen if price reverse back to the previous confluence level at 1.09371 and from there make a bearish price action signal. On the daily chart we can see that the price...