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Continuation flagEurusd is likely to end at 1.1700 area. If there is a major unclosed pivot weekly, monthly, yearly - price usually goes to close it. In our case its 2019 yearly pivot. Price never tested it and is moving to do that. Then we have to 7 more factors to support our idea 1. TD breakout projection - sends us to the same area. 2. Bullish continuation flag pole projection - sends to the same area 3. Trade weighted Euro currency index made inverted head and shoulders and is gonna trend higher 4. COT data - institutional traders added to their long positions 5. EURUSD strongly rejected several times from 2000-2020 up trendline. 6. 80 percent of retails are selling...someone is buying from all of them) 7. Price broke yearly pivot (and 2019 average price level - this year they coincided) and did a nice retest as it should. I can be wrong of course. Nothing is sure in this game) THIS IS NOT A FINANCIAL ADVISE. Trade weighted EURO currency index (you can see it broke downtrend and formed inverted head and shoulders) is available here for free www.ecb.europa.eu
Long
by ICFX
EUR/USD is Expecting a Correction.Hey, I am back with another Technical analysis this time Looking at EUR/USD pair. EUR/USD has seen a very strong rise, from 1,17100 to to almost 1.12 in a week but haven't seen a correction yet. The daily chart is showing a Regular bearish divergence. And the 15 min chart is barely holding on the support level, Although I like the RSI which finding support at 40. How to play this? I am in short since 1.19501, you can also try to short somewhere at 1.19380, and TP at 1.18920 , risk reward 3:1 is very easily achievable here, hopefully with this information you can calculate the Stop loss yourself. And that's it from me, don't forget to like this idea if you agree that E/U is a short. Cheers, Tibor
Short
by TiborVrbovsky
2