Om Namah Shivay
From Feb 2020, USD is weak to Euro. The continuous upward Journey has made the market too positive to Euro.
The market turn when the mass thinking is to another direction.
From our analysis, it appears the market is getting ready for a turn.
The RSI appears showing divergence. It does not mean market will immediately turn. Not...
. There is still a possibility of temporary retracement to suggested resistance lines (1.1822 & 1.1883). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. EURUSD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which...
As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=1.1415.
But the short term forecast is range bound, so we expect to reach the following targets:
Set the stoploss of these orders at breakout of R2=1.143.
Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of...
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 1.1300 would begin in Midterm.
We opened 8 BUY trade(s) @ 1.1677 (day close price) based on 'Vale & Two-day reversal candle' at 2018.08.27 signaled by DTO.
Total Profit: 40 pip
Closed trade(s): 0 pip Profit
The current move may extend upto 1.19751 / 1.19795 where a nice confluence of the 0.618 of the last down leg intersects with the CD leg of the ABCD pattern.
It would be good to enjoy the current uptrend which can still provide a fair R-R-R trade. However, price at the confluence zone should be watched carefully.
Hit like if this information is useful.