EUR: Local consolidation.A breakdown of consolidation up may give an opportunity to take a long-term short position. Break down is also a good opportunity to take a long-term short position.
Eurshort
EURUSD short setupEURUSD - Short with target 1.1330 followed by 1.1290. Stop loss above 1.14
Momentum has turned bearish with several clues:
RSI lower lows
candle bars lower closes
shooting star candlestick on the last hourly.
Simple, will it hold?
EUR: A trend reversal is possible.Over the past three weeks, the upward trend has slowed down. Possible roll back down or reversal of a trend.
Is this the top for EURUSD? Momentum slowing on DAILY chartIs this a medium term top for EURUSD?
Technicals
Bearish divergence seen on daily chart.
Upside momentum is slowing.
DXY showing same, if not stronger divergence.
Sentiment
Consensus has become EUR positive - in fact, extremely EUR positive.
Fundamentals
All banks raising long term forecasts for EUR.
Even though last month's inflation reading missed expectations, and Draghi wasn't hawkish at all!
This week's ECB conference, UK elections, and next week's Fed meeting all may impact.
Perhaps end of May flows were responsible for the last push up in EURUSD, now may start to fall as fundamentals come back in play.
Euro: it is possible to move down.The Euro is more than 5 days in a small range. It is possible to move downward according to model 3w.
EURUSD crab pattern and cypher formation 1.12000 is a strong resistance zone.
-Crab Pattern complete
-Cypher Pattern Formation
Targets: Read the graphic
Enjoy...
EUR mega channel breakthroughThin seams to be diagonal support breakthrough. Drawing a flag. be prepared to 0.84
EURUSD Hourly - Simple, could it hold?Double top followed by 0.618 retracement after the break of the "v" point of the tops.
This also coincide with the highest high (opening) of candle seen 2017-04-23
Makes nice structure, the V point together with the opening high, and the 0.618 fibonacci.
Lets see where this bus takes us. Two targets set up.
EUR shot term SHORTFIRST TARGET =1.065
previous structure, resistance level, top of the channel
RSI - overbought
as for fundamentals/news noise:
ISIS/russia will still push for Marine Le Pen = more terror acts are expected
Marine Le Pen might win = big push down for EUR (0.85-0.9)
EURUSD SHORT: Bearish divergence, H&SAs in chart.
Bearish divergence shows exhaustion of bulls and high probability of gap close.
Supported by fundamentals: monetary policy divergence remains after today's ECB meeting.
USD DECISION POINTInverted head and shoulders may form.
Medium to long term, USD is fundamentally bullish based on monetary policy divergence, USD shortage, increasing term premia on US 10Y Treasuries.
EUR: scenarios for a short position.If presidential elections in France are won by supporters of Frexit, euro can open with a gap down, with further movement down to support level.
EURJPY - Short setup from this morningAs posted earlier today on my telegram (t.me) I'm currently short from just above 116 with targets at 115.500 followed by 115.
We see a bearish divergence together with structure and trend line coinciding. We do have a fibonacci 0.382 at 116 level aswell.
While posting this I see we're breaking the "V" low of the double top which gives us yet another signal.
EURJPY (1h) Double top, fibonacci, strong resistance - Short?Price put in a double top, failing to close above 38.2 fib of X - A. In conjunction with fibonacci, and the double top, we have a strong monthly support and resistance area which could help us with this short.
I see high probability in this one, I am not looking for extended target(s) this time. As we could, potentially, look at a bullish (temporary?) release from this bearish trend.
If we break and close above 118.400 we could be looking at a bullish rotation, as hinted above. And then - we adjust our prognosis and entries accordingly.
Lets see if this elevator goes to our floor!
EUR - sell/buy scenario based on resistance level
We use the resistance level. Sale in the expectation that the level will not be broken. Buy at the breakdown level.
EURJPY 1H - Continuing bearishPrice action has not yet told me to go long, and since there still are bearish signals to this I'm sticking to my initial target of 120.000.
So far we have managed to bag 150 pips during the last 7 days from this bearish fall.
Lets see if we can continue this pip-hunt, all the way to target!
Before I start to consider a bullish approach, I need to see a break and close outside falling trendline and above 122.000
EURJPY(1h) Short setup, continuing our decent.Continuing bearish outlook as a follow up on last weeks successful entry ()
Basing this on price action struggling to close above 121.350 - 0.382 fib of X-A
IF we break out above, we will possibly find another opportunity to get short around 121.800 - 122.0 area.
Final target - 120.000
EURUSD (4h) Short setup, decision point(?)Following up on last weeks successful prognosis ()
I now enter a short position, aiming for 1.0620 with first target at 1.0700.
This is could however be a decision point for entering a strong bullish move , but I use the double top forming at B (see historically strong point at Z) before we make that move upwards.
Tight stop loss on this one, as a break above could trigger the bullish move I just mentioned.
