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Eurusdidea

EurUsd- Pressure is lifted, 103 is very probable nowAs I've written yesterday and on the 6Th of September, EurUsd seems ready for a correction. Yesterday has been a volatile day for EurUsd which went above and under parity and finished the day with a Doji. Looking at the 4h posted chart we can see that after an initial rise above parity, the pair fell strongly but found strong bids in 0.9930 and reversed strongly overnight, putting in a higher low on our chart. At this moment EurUsd is trading just under the recent range's resistance and a break un seems very likely. In such an instance I expect the pair to accelerate its gains and rise to 1.03 zone resistance. I expect parity to remain intact for the time being and dips should be bought in search of a good R: R considering a stop loss under yesterday's low and a target in mentioned resistance. Best of luck! Mihai Iacob My Yesterday's analysis:
Long
by Mihai_Iacob
4
Will EurUsd reconquer parity?Two days ago I wrote that even if the long-term trend remains short, EurUsd may have found a bottom and a correction becomes very likely. Yesterday, after yet another drop under 0.99, EurUsd has strongly recovered and now is trading slightly under parity. Considering the lack of power from the bears to clearly break support we can expect a reversal and a daily close above parity would confirm 0.9880 as a bottom (at least for now) This correction could have 1.03 as the target and 1.01 as interim resistance
Long
by Mihai_Iacob
9
EurUsd- Very steep falling wedge, short squeeze can followThe trend for eurusd is undoubtedly short, however, starting with the first drop under parity in mid-July, the pair lacks real continuation to the downside and lows are marginal with the yesterday's one being a false break under support. Looking at the chart we can see that the falling wedge pattern is very steep and a short squeeze at this moment is highly probable A new rise above parity can activate a lot of stop losses and the pair can accelerate to the upside The target for the falling wedge pattern is 1.03 and interim resistance is at 1.01
Long
by Mihai_Iacob
28
Did we witness a false breakout in EUR/USD?EUR/USD dropped below the 0.99 level today prompting many traders to think that the support has been broken finally. However, at the start of the European trading session price has rebounded quite strongly above 0.99 again. So, we might have witnessed a false breakout. That being said, EUR/USD is not out of the woods yet and buyers must exercise caution. Today's daily candle might give some more clarity in EUR/USD. In my opinion, EUR/USD will climb above parity again and even reach 1.04 and that's why my plan is to buy every dip with small lots.
by YourLazyTrader
15