After 2 failures to hold on to the upward trend and corrective rallies, it is clear that this bull has no bones. The dollar index has been in a bear market since 2018 and each attempted rally has failed. This time is no different. The dollar bulls are about to make the most classic giving up of their opinion and they will do it all at once. It will be a meltdown...
Euro against Dollar pair have been trending below 1.21500 area right from start of the February , and even in the 3rd week its quite remains the same, currently seller have dominated and it might continue this week too
Analysis only for education purpose
In relation to earlier long term outlook and daily outlook,
now refer to 60 min chart to under behaviour.
the 60 min chart has a swing bottom
emerge from the daily chart 23.6% retracement.
Further weakness is below the swing bottom of 60 min
1.1950.
A correction of the rise from 1.1950 to 1.2050.
If immediately is rushes up then expect a swing to be
in...
The daily chart shows a correction to retracement
level of 1.16845/1.14849/1.12854.
The correction can end either by hitting oversold
zone on RSI or by exiting RSI 50 mark now.
The 23.6% offer support and if the same is not violated
then expect a swing bottom process to test back
the recent peak to higher level as mentioned
in earlier macro update.
Resistance is at 1.219-1.256
It is also the supply zone.
Recent peak of 1.235 was formed and reacted
towards the 23.6% retracement of the
rise from 1.063 to 1.235.
Support is at 1.192.
Further correction is below 1.192
to test 38.2% retracement or below.
It looks to be long term
(a)(b)(c) structure.
A (c) structure may have opened up.
Correction can be ii of (c)...
Trading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (1.2285). 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...
Euro against Dollar , is looks like in Seller control in weekly analysis ,inspite its long term bullish move..
price action analysis only for education purpose..
Euro/Usd is forming a bullish BAT pattern in the hourly format.
The price will get support at 1.20676 level (D Point) and start moving up to the target of 1.22212 to 1.23186 level.
The is a strong reversal pattern with identified Fibonacci levels.
All the expectation at the starting of the week , That EURUSD bearish trend has failed , its been bullish right from Monday,
and it continues , it takes the area of 1.18250 area as support , and it aims towards 1.90 and more..
Euro against Dollar, raising right from October Ist , and similar to Gold , this pair also in upbeat against Weak Dollar, Expecting this pair may turn after 15th or 16th at the price from 1.18500 area..
Trading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (1.1952 & 1.1917).
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...
Trading Suggestions:
There is Still Possibilities of Temporary retrenchment Expected.
Technical Analysis:
EURUSD is range of Downtrend is Expected.
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Trading suggestion:
. There is a possibility of temporary retracement to suggested Resistance line (1.1819). 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 below the 21-Day WEMA which acts as a dynamic...
Midterm forecast:
. While the price is above the support 1.0990, beginning of Uptrend is expected.
. We make sure when the Resistance at 1.14950 breaks.
. If the suppor at 1.0990 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
. The ascending flag taking shape suggests we will soon see another leg higher.
. While...
