EURUSD outlookPrice covered the previous inefficiencies (a little bit left to the downside but no space to go short short-term).
I would look for temporarily long (countertrend). And then when we cover the existing inefficiency I would go short again.
Euro rarely leaves such inefficient moves behind. Whenever you see a series of long candles with no pullbacks (illiquid runs on low volume, as price "gaps through" in search for liquidity and once it hits counterparty that fills all the demand price slowly drains back to where it busted from) - be sure price will come back to fill them. This and more is explained in great detail on - protradersclub.com
EURO-USD
EURUSD - DAY TRADE VIEWEURUSD - As per the hourly chart and trend line breakout it should go up from the resistance zone.
My approach will be a buy only above 1.18255
Maintain stop loss around 1.17850
Potential upside target 1.18600 - 1.18800
Follow the levels as mentioned in the chart.
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EURUSD Weekly analysis, Oct 26-30Euro against dollar, had a bullish last week, it closed with high price of 1.186 area, sitting below the resistance , this pair may see a downward trend to go 1.16 area , towards the end of the month ..this movement will decide the path of November of EURUSD pair
Note- price action analysis is only for education purpose only
EURUSD - DAY TRADE VIEWEURUSD - As per the hourly chart it has completed the run up for flag pattern and now steady on the resistance zone but about to lose strength as multiple resistances are awaiting on the top.
My approach will be a sell here at current price 1.18480
Maintain stop loss around 1.19000
Potential downside target 1.18050 - 1.17700
Follow the levels properly, I will be glad to see your likes & comment.
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Excellence award winning mentor
Professional chart, clear chart without junks.
Major S/R levels with inner insights
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EUR_USD STRUCTURE ANALYSIS!EUR_USD has bullish momentum but all the long opportunities are missed.
For the sellers, I would consider the diagonal resistance as the first short area, heavily dependent on the price action.
The safest short opening area would be the horizontal resistance ahead.
Wait for a nice reversal pattern and go short.
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Reversal comingHello Traders, We hit monthly H3 reversal level and reached the clean breaking point. Hence I would look for shorts next week to fill the gap formed on Friday. We should see price ranging during Asian session on Sunday night and when Frankfurt opens on Monday price will push down (might spike above Asian range though - touching the point of release).
Top Absolute Correlation 4 hrs
1 EURUSD - USDCHF -94.7%
2 EURUSD - CHFJPY 91.1%
3 EURUSD - EURJPY 90.3%
4 EURUSD - NOKJPY 84.9%
5 EURUSD - USDTHB -84.7%
6 EURUSD - USDPLN -84.0%
7 EURUSD - USDSGD -82.3%
8 EURUSD - GBPJPY 81.9%
9 EURUSD - SGDJPY 80.0%
10 EURUSD - SEKJPY 79.4%
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EURUSD - SWING ANALYSISEURUSD - Parallel channel breakout is there on the chart, next week is expected to be on higher side.
My approach will be a buy here at current price 1.18290
Maintain Stop loss around 1.17700
Potential upside target 1.19300
Trade as per your risk appetite, I will be glad to see your likes & comment.
Why you should follow this tradingview account ?
Managed by top most renowned trader - Pulak Priyesh
10 + years of trading experience
Professional Day trader
Excellence award winning mentor
Professional chart, clear chart without junks.
Major S/R levels with inner insights
Frequent Day & Swing trade levels
All major and minor FX/INDICES covered. Thanks
EUR/USD Trading Around Stimulus/BrexitOANDA:EURUSD is near completion of it's Elliot's Wave pattern following a tough week for the Dollar. Today's action is mostly accredited to strength of AMEX:SLV and TVC:GOLD . I believe there is a correction or some consolidation due early next week with the amount of economic announcements on the US and European sides, and as Brexit new's continues to develop with apparent "rounding issues" occurring. GOLD and SLV will likely flatten out due to the upcoming debate. Also, with US Stimulus likely becoming a hot topic at the debate with rumors still floating some type of relief. In conclusion, Europe and Britains uncertain future will likely bring weakness to the Euro early in the week, and I predict the dollar to stay flat leading up to the debate and bounce with more strength in GOLD and SLV or a Stimulus package. EUR/USD could easily reach 1.915 next week as these events play out or retrace to resistance turned support from July.
EUR/USD WEEKLY OUTLOOKThis is just my views on how eur/usd trend is looking. i base my decisions based of these timeframes as it makes you alot more accurate, aswell as entering you potentially in trending markets. DXY could be ranging between 94.6 and 92. the dxy is good to find your entrys on eur/usd, because if you flip dxy chart upside down, its the exact same chart as i have posted above! if dxy next move takes it downwards after trumps stimulus talk. expect eur/usd to rise uptowards 1.19.
Parallel channel broke and retest playEURUSD
Has managed to run bullish for the 5 straight days from September 25 to October 01. September 22 high which is 1.1744 is acting as a swing area and holding as a support for the bear
The downward parallel channel was broken and retest on September 25 makes this pair to run towards 1.17400.
And the upward parallel channel also broken and price fell below the middle line we are expecting the retest play around The Point of control area and then it will fall towards
200 Exponential moving average is acting as resistance for the bull Point of control are is coordinates with the .236 Fibonacci retracement level.
below which the .50 Fibonacci lying around 1.16934 which will be a testing ground for both the Bull and bear.
If this level firmly broken then the next downside target would be 1.16128 which is a recent swing low area
.50 Fibonacci level coordinates with the major psychological level
On volume profile currently its trading at high volume area where we can expect more number of sellers from this level
Hourly
Relative strength index is in neutral area as its around 51 level
Ichimoku cloud is turned red
The price is trading near the lower side of Bollinger band
03 EMA's confluence around 1.17300
In RSI bearish divergence was formed
MACD is signaling upward pressure, Histogram is turned red
4 HOUR
100 EMA acting as support - Bear
Ichimoku cloud is turned red and pointing upwards
Relative strength index is in neutral area as its around 50 level
MACD is signaling downward pressure, Histogram is turned red
The price reached the lower side of Bollinger band
Continuation of downtrend
Selling pressure
DAILY
100 EMA acting as resistance for the bull
Ichimoku cloud is about to turn red and pointing downwards
Weakening of bullish momentum
Middle line of Bollinger bands acting as support for the bear
RSI is well below the 50. MACD is about to cross and the histogram is going to turn as green
Upward pressure
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EUR/USD Short Post NFP, Post Trump COVID+Interesting week. Not much trading for me, but if anyone want's to see myfxbook (verified) shoot me a PM and I can show you how trading went for me this week! As you can see from earlier in the week, the technical structure of this downtrend has remained true, thus giving me an UNCH in bias remaining bearish.