EURUSD | Perspective for the new week | Follow-up details
Updated
It was was a choppy situation for the EURUSD as price action was caught within a channel between the 1.04450 and 1.03150 level through out the course of last week's trading session. The bullish momentum that started two weeks ago was strongly resisted by sellers around the 1.03750 - a level that shares a confluence with the bearish trendline on the daily time frame. All bullish attempt at this juncture in the market appear to be negated by the bears as I am of the opinion that we might be witnessing a breakdown of the 1.03150 level to signal a retracement phase in the coming week(s).
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade active
The week as started on a bearish tone as the price finally breaks down the neckline structure identified in the video @ 1.03150. If you have missed this move, let's see if the market will present another opportunity in the form of a retest of structure to join the potential decline.Good morning
Trade active
This was duly explained during our live session today (video uploaded on youtub); Securing the current sell position as buying pressure is identified at the 1.02300 zone. Since we already have a breakdown of the neckline at the 1.03150 level, a retest of this structure might incite another wave of bearish momentum. Update coming soonTrade active
Secure sell position as we continue to monitor price actionGood morning
Trade active
After being taken out of the sell position with a small profit, let's see how the price will react to the neckline area at the 1.03150 level. Selling pressure around this zone might incite a bearish momentum. Remember that we have a major event coming up tomorrow (Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).Trade active
We continue to monitor price action, price is back within the 1.03150 neckline and there are two possible options that are likely to happen from this juncture. These are illustrated with the arrows on the chart. We shall also take into consideration that there are major events coming up today (Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).Good morning
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S&P Global/BME Composite PMI coming up 5 minutes from now, I still look forward to selling opportunities from the current structure.Trade active
FOMC coming up in 10 minutes... A huge spike is very likely at this juncture.Trade active
Price is back within the sell window around the key level at 1.03750 area. FOMC in a couple of minutesTrade active
So, I must agree that I missed this bullish move. Congrats to those who took advantage of this move... Looking forward for another opportunityGood morning
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Selling pressure was identified below the 1.04500 level - an area that has a memory for selling potential in the last couple of weeks.Trade active
Secure positionTrade active
Position secured as price action is been monitoredGood morning
Trade active
This was duly explained during our live session today (video uploaded on my youtub channel); Selling pressure continues as the price finally breaksdown the key level at the $1.03750Trade active
Position secured; I am done for the week.Congratulations on the profitable journey this week!
Trade smart. Trade consciously
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