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Eurusdforex

EurUsd - Double Marubozu"Marubozu : a japanese candlestick formation used in technical analysis to indicate a stock has traded strongly in one direction." Yesterday the EurUsd was trading in one direction whole day : down. I noted yesterday in the gold post , that very possible the EurUsd will bottom at the 100 SMA as this daily cycle is already very mature. Today the EurUsd was trading in one direction throughout the whole session : up. Buyers controlled the price whole day , we have a good chance to close near or at the high of the day. Yesterday's red and today's possible green marubozu is a strong signal that the previous trend is reversing and the DCL was printed on the 100 SMA yesterday. In the meanwhile DXY is turning down from the 100 SMA and the important resistance of 91.775 . There is also a good chance of printing a key reversal: I think EurUsd is printing its first DCLof a new intermediate cycle and 2 more daily cyle will follow the previous one in the following months. RSI just left oversold territory and MACD is waiting to cross over. It will also affect gold , silver and stocks. A weak dollar is good for metals and stocks too.
Long
by chartwatchers
2
EURUSDHi guys,let's look at this chart and find out what is time to do? Usually it's a good season for EUR but as you see in chart we failed to break resistance above again and dropped from another bearish wedge,now we are in back testing it stage and if we can't achieve we will drop more to around lower support at 1.153.But before any targeting or enter trade i need to see this situation more clear.EUR need to decide what want to do,honestly i expected a better price actions and bullish reversal in this stage but we are still in try in this range and couldn't achieve lot but i have hope to this stage we earn more.
by Peymana71