EUR (Euro)
💡Don't miss the great buy opportunity in EURJPYTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (123.40).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 124.50
TP2= @ 125.10
TP3= @ 126.20
TP4= @ 127.00
TP5= @ 128.00
SL= Break below S2
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💡 Don't miss the great sell opportunity in EURUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.1876). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 34.
Take Profits:
TP1= @ 1.1800
TP2= @ 1.1760
TP3= @ 1.1703
TP4= @ 1.1650
TP5= @ 1.1603
SL: Break Above R2
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💡 Don't miss the great buy opportunity in EURUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.185). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 1.1895
TP2= @ 1.1920
TP3= @ 1.2000
SL= Break below S2
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💡Don't miss the great sell opportunity in EURCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.5535).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURCAD is in a range bound and the beginning of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 1.5498
TP2= @ 1.5457
TP3= @ 1.5394
TP4= @ 1.5312
SL: Break Above R2
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💡Don't miss the great buy opportunity in EURJPYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (123.8). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 124.65
TP2= @ 125.10
TP3= @ 126.00
SL= Break below S2
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💡Don't miss the great sell opportunity in EURUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.186). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 1.1780
TP2= @ 1.1745
TP3= @ 1.1695
TP4= @ 1.1623
TP5= @ 1.1540
SL: Break Above 1.192
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💡 Two buy opportunity in EURSGD, Mid-Term & Short-TermMid-Term Forecast
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (1.5928).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURSGD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 1.6100
TP2= @ 1.6254
TP3= @ 1.6305
TP4= @ 1.6440
TP5= @ 1.6785
SL= Break below S2
------------------------------------------------------------------------------------------------------------
Short-Term Forecast
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (1.5941).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURSGD is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 61.
Take Profits:
TP1= @ 1.6040
TP2= @ 1.6100
TP3= @ 1.6170
TP4= @ 1.6249
TP5= @ 1.6311
SL= Break below S2
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EURNZD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of EURNZD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 44 - 26 Oct
M > Market is moving in a rising channel. Price tested monthly support, faced rejection and started upward move.
W > Price has faced rejection at support of channel and is
D > After rejection at weekly demand zone and creating double bottom price is moving in a rising channel. We saw an M formation and as expected price moved up to test its neck and complete the formation. Price faced rejection at channel support. We can expect price to continue with upward move till resistance of channel that can coincide with monthly resistance level.
As per COT EUR saw addition of few Long and more Short, reducing net positions further. EXY was weaker during the said week however it gained back its strength last week. Institutions, since last month, reducing their portfolio of Long and increasing Long positions, with total 32K Long positions closed and 13.5K short positions opened. NZD saw closure of both Long and Short positions further improving net positions, whereas ZXY was weak during the said week but it gained strength last week. ZXY has been gaining strength slowly since June 2020.
In short term we can expect price to rise up but a bearish reversal can be expected from monthly resistance level.
4H > Price has faced rejection at support of channel and is now testing 4H supply zone. We can see an inverted H & S pattern under formation and price should continue moving upwards.
Pair Correlation > EURNZD has positive correlation with GBPNZD and negative correlation with NZDCHF, NZDCAD and NZDUSD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
💡Don't miss the great sell opportunity in EURNZDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.7813). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURNZD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40.
Take Profits:
TP1= @ 1.7680
TP2= @ 1.7583
TP3= @ 1.7468
TP4= @ 1.7330
TP5= @ 1.7162
SL: Break Above R2
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💡Don't miss the great buy opportunity in EURAUD Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (1.6559).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. EURAUD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 1.6680
TP2= @ 1.6775
TP3= @ 1.6890
TP4= @ 1.7019
TP5= @ 1.7195
SL= Break below S2
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💡Don't miss the great sell opportunity in EURUSDTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.178). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURUSD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
Take Profits:
TP1= @ 1.1725
TP2= @ 1.1680
TP3= @ 1.1610
TP4= @ 1.1490
TP5= @ 1.1375
SL: Break Above R2
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💡Don't miss the great sell opportunity in EURJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (124.2). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 33.
Take Profits:
TP1= @ 123.45
TP2= @ 123.05
TP3= @ 122.55
SL: Break Above R2
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Trade well, ❤️
ForecastCity English Support Team ❤️