The price has reached the bottom of the long-term trends it has created since 1985, with the downtrend it has created since 2018.
When we look at a monthly basis, we can see that the indicators are trying to move from the fall to the rise.
In this sense, with the breaking of the downtrend, we can see a new rising channel that will work for a minimum of 4...
Euro against dollar pair traded within the price limits for the last one month or so, and clearly visible this week the pair will look forward to go high with the last week closing candle little off the floor, also a triple bottom pattern formed .. from the price action analysis view , bulls have the upper hand this week.
when it goes high, it may finish with...
as expected last week we saw eurusd breaking that huge H&S on the H4 chart resulting in a fast movment t
now we see a continuation of the pattern
1- H&S target have not been achieved yet
2- We have a double bot formation on the daily
3- big buying sentiment next to the breakout level
EURUSD currently completes its Elliot correction wave of C which is further signalling the buyers are in near term control
From the current level 1.10000 which is a major psychological level, We can open long positions
Primary target would be 1.11400, Which is recent resistance level
Stop lose may placed below the completion of Wave C
EURUSD continues its strong reversal occured on last week, and expected to continues its bullish momentum, before that it will retest the significant price level of 1.10000 and will rise higher at later half of the week..analysis from the perspective of technical analysis and price action..
EURUSD is trading in a rising channel. So far the Channel support was not broken
Weakness in USD will support the long in EURUSD
Suitable long positions may open at 1.08545
Potential take profit will be 1.10140
Stop lose may placed below the channel support level 1.07800
Leave your comments below
The weekly is turning lower and the daily right side is down against the 2/16/18 highs at 1.2551. The 4 hour right side is down with a bearish sequence against the 12/31/19 highs at 1.1237. While below 1.0949 where the hourly right side is down the pair can see another low in the 1.0700 area before it corrects the cycle lower from the 12/31/19 highs.
A second wave (x) ended at 1.2532 on 2/16/18 where the weekly is turning down and the daily right side is down. Down from there wave a ended at 1.0877 on 10/1/19 where the 4 hour is turning up. From there a wave ((W)) is in place at the 1.1239 highs from 12/31/19 where the hourly is turning down. From there the cycle in wave (W) ended at 1.1084. While above...
Good macros from European countries make the EURUSD follow a book bullish trend at the same time that Fed is trying to keep up its repo balance sheet and dollar is weakening against major currencies (refer to DXY where it has broken second support). The fact that Iran looks like is going to retaliate any moment from now does not give a positive scenario to markets...
In the past 15 days, dollar has crushed the first 2 resistances. Today it crashed the 2nd one for less than an hour unexpectedly. If it crashes again, it is likely to try to crash the 3rd one and then a bearish outlook will come for USD.
EUR/USD: performed only +1.53% for the year 2018, in which 16th February 2018 top 1.2557 consider to be the year top whereas 12th November 2018 bottom 1.1214 consider to be year low. EUR/USD completed (+or-) 1343 pip.
If it breaks 1.1491
Buy @t Entry: 1.1491
Stop Loss: 1.1234
Target 1: 1.1523