As we forecast uptrend for this day, so Forecast City suggests buy (limit) above S1=1.129.
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 S2=1.128.
Stop and reverse:
If trend gets reversed, sell (stop) orders will be opened at breakout of...
During the upcoming trading week, central bank action takes center stage, with interest rate decisions from the Bank of Japan, Central Bank of Turkey and the Bank of Japan. The Bank of Canada rate decision is likely to capture the spotlight, as market participants wait to see if the BOC will follow other central banks across the globe and adopt a more...
EURUSD 1.1216 major support
The euro currency is attempting to correct higher against the US dollar in early week trading, amidst quiet market conditions. Technical indicators on the lower time frames have now corrected from oversold conditions, with EURUSD the pair still struggling to break past the 1.1250 resistance level. Sellers need to breach the 1.1216...
recently some short selling has happened in E/U. Price has failed to push through the 50% fibo level of last retracement. This has triggered a strong downmove. Now the nearest support it has to maintain anyhow inorder to riseup again forming other bullish channel. But if it fails then it will take a support on this Red bold trend line and will be trapped in a...
Eurusd after making a support at 1.1180 levels. Ready to take a rebound to the levels of 1.1400+
So trade wisely, A buying opportunity will come at 1.1270 near levels. With an sl of 1.1180
EUR is trading in bearish trend from last couple of weeks. Weekly RSI has completely diverged from the downward price move. Pair is trading near 61.8% retracement of 1.2565 to 1.03 which comes at 1.1175. Pair can bounced from Golden ration citing positive divergence on RSI. Fresh short bet should be made only on close below 1.11. Buy can be initiated at current...
We can expect bounce on EURUSD, because prices look like they are on Support.Wait for it to go below support area and bounce back up. Unless bounce happens as expected buying opportunity can be considered as weak.