EURUSD Currently the price is in resistance and for correction it will
move downwards to support @1.17900 - 1.17950 ...wait for price confirmation and GO LONG..
Take profit 1 @ 1.18800
Take profit 2 @ 1.19450
it can go downwards upto @ 1.17250 and GO LONG ..
Take profit @ 1.18050.
Here EUR/USD trying to escape from the parallel channel. I think it would start marching upward soon from the support area of the Box pattern. Its trend is reversing, so day traders can sell now for the levels of 1.1706 - 1.1696 . And a breakdown of 1.1690 is a direct signal for a continuous downtrend that can be for 1.1666 - 1.1636 .
Downtrend initiator: ...
The weekly right side is down against 1.4917. The daily is turning up against March lows at 1.0636. The 4 hour right side is up against 1.0757. The hourly right side is up against 1.1759. While above there the pair can continue higher toward 1.2200 in the cycle from the March lows.
BUY @ 1.1802-1.1780
Good luck !
Hello Traders, Hope you are all doing well. EURUSD has come to all time high since last month. So my potential trade for this week would be sell side with SL of 40 pips from current price. Good R:R 1:3.5
the 4 hour right side is down with a bearish sequence against 1.1557. The 1 hour is turning up against 1.1252. While above there expect the pair sees another high in the cycle from the March lows before a turn lower again.
good luck !
The 4 hour right side is down with a bearish sequence against the 1.1497 high from 3/09/2020. The 1 hour is turning up against 1.1183. While above there expect the pair higher toward 1.1497 before a larger turn lower again.
Good luck !
Two cases in case of EUR/USD
CASE 1: Since Accumulation on 4H and very strong support level at 1.12221, wait for the conformation on 4H, if the candle closes as a bull closing above the level of 1.12221 structure formed inverted head and shoulder as shown in picture on 4H time frame..since this is a structure based entry take a buy if the above conditions...
The 4-hour right side is down against 3/08/2020 peak (1.1497) & shows a bearish sequence. 1 hour is turning down against 1.1020 high. Near-term, while bounces fail below 1.1020 high expect pair to extend lower.
TP 1- 1.0850
Good luck !