The actual situation is still confused. Were the main trend is still bearish in the meantime I have strong indications of a reversal up. In this case after analysing the market I will not take a position now but in anticipation of the suggested move I will look further to my indicators and maybe, if everything is more clear at that time I will take a position long.
In my previous prediction I saw a buy opportunity while the overall trend is still bearish. I mentioned a bullish shark in the structure. On the other hand my Daily and Weekly stochastics analyse are both showing that the bearish move is maybe not over. I made 2 entries long but using a tight trailing stop which were stopped out both with a couple of pips in my...
Last week I thought there was a chance to see this eurusd fall even deeper during this week. Today I see a reversal on the contrary. Maybe it is only temporary, but I see that everything is ready to go long. Nice shark :-)
Here is my new analyse for eurusd So far, the price is at a high level of reversal, but nothing says that we will see a reversal. My stochastics do not tell me that there is a big reversal here and now. But with time, it can change. The price can go a little lower. I explain. There is a chance to see the price making a try to climb higher from here, but there...
Oversold position, we can expect the market to make a correction based on the indicators. The euro made a nice bounce up with the good Brexit news but next week the euro zone has to face another problem 25% taxes on new products by the USA.
Looks good for the euro. But.... Previous analyses:
Price may continue after a small correction down. Price may also struggle in the zone, fall back and go up until things are clear. There's not really good news and everything is still very unclear. Price may also reverse down, some indicators are giving indications of this exhausted euro, but the stochastics are saying this is not a clear thing as well.
Daily analyse: The biggest box is the actual struggle zone where the euro can fight. The upper box inside of the big one is the place where the market is likely to reverse down "if it goes so high". Looking to the indicators and the trend, the eurusd is likely to continue it's move down. This is not trade advice.
Next I see in macd and on my multiple stochastics a possible short-time reversal to the upside. This can happen and will be weak, but the sentiment can give it a push higher. Although I see the price to fall deeper. At this place and at this time, there is some hesitation possible but all by all the weakness is still confirmed. I stay out of the market for now....
While there was an opportunity to see the euro going up, there are new issues coming with the crude oil affecting the euro zone next to the Brexit and other undecision. Until things will clear up. I see the crude oil problematic putting heavy weight on the already weak euro. So again, instead of recovering we'll probably see the market go down.
After the price dropped we saw a rebounce lower than what I expected previously. Now I see several possible options. While this pair was breaking my previous sl but closed above means that the price may continue to go up. This being said, the sentiment can push the price up as I supposed first but can also change, weaken. I see still weakness in the macd here as well.
I think the pound has some chances to rise against the dollar. At least for now.