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BluetonaFX - EURUSD Cup & Handle Pattern OpportunityHi Traders! There is a potential cup and handle pattern here on the EURUSD 1D chart. After the down wave and then up wave, the market has now reached the psychological level of 1.10000. The market has not been around this level for more than a month, so we expect some resistance here, therefore we have drawn the potential cup handle on the chart. The potential cup handle consists of a possible consolidation period near a key resistance level before another attempt to close and break above the level. 1.10000 is the key level; the market must break and close above this level for a continuation upwards. There is a long-term price rejection resistance level at 1.10956; there are also multiple price resistance candles near this level, which we have highlighted on the chart. If this potential pattern fails and there is no bullish momentum to break and close above 1.10000, the chart pattern will change to a bearish pattern, and we will look for opportunities to short. Please do not forget to like, comment and follow. Thank you for your support. BluetonaFX
by BluetonaFX
6
BluetonaFX - EURUSD Descending Triangle OpportunityHi Traders! There is a descending triangle opportunity forming on the EURUSD 4H chart. The price action is showing lower highs and lower lows, which shows that the bears are currently driving the market to the downside. There is support at 1.08354; there was a previous double bottom at this level, so we are looking for a momentum break and a close below this level. If we get this, we have highlighted the target area on the chart. The target area is 1.08005–1.07925. Please remember to like, comment, and follow us, as your support greatly helps us. Thank you for your support. BluetonaFX 
by BluetonaFX
2
BluetonaFX - EURUSD Ascending Channel Opportunity Hi Traders! There is an ascending channel setup here on the EURUSD 1H chart. We are approaching our vector level at 1.09483; there may be some resistance here for the short term, and above this level, there is another vector level at 1.09766. We identified a cup-and-handle potiential formation on the 1D chart last week (LINK BELOW), and the handle now seems to be forming. The longer-term outlook is a possible retest of the psychological level at 1.10000. Please remember to like, follow, and comment. We appreciate your support. BluetonaFX
by BluetonaFX
6
BluetonaFX - New Range Zone EURUSDHi Traders! A new range zone has been established on the EURUSD 1H chart, and there may be some opportunities for entries before a breakout. The current range is roughly 39 pips, so the range zone is quite small. Resistance to the range zone is at 1.09463, and support is at 1.09072. There was a previous price rejection at 1.28486, which we have highlighted on the chart. This level could be a key level; if we break above the range zone, then the market will most likely test this level again. If there is a break below the range zone, we have a vector level at 1.08644 and a second vector level below that at 1.08014. Please do not forget to like, comment, and follow; we would love to hear your thoughts. Thank you for your support. BluetonaFX
by BluetonaFX
2
Ellison EUR/USD Morning analysis 12/06Continuing on from last week I am maintaining the forecast of buys from 1.076 and 1.079, expecting the temporary pullback phase on EU to continue a little higher. With sells expected at 1.084 or below 1.07. The theme of last week was watching Dollar start to show some exhaustion at key price sensitivity area of 104.5. On the higher timeframe, the DXY is on a more bullish bias, but secondary phase pullbacks/corrections are not out of the ordinary. We already had a very nice bullish rally on DXY from 101 price to break above a 30-day range and print higher highs on the intraday and extending 3.5% to 104.5. Last week US economic data was not as optimistic as expected, showing signs of a weakening US economy and feeling the pressure of a higher interest rate environment, coupled with macro inflation being elevated too. This all translates to a temporary pullback structure on the EUR/USD pair. Notable news this week: Tuesday - US CPI Wednesday - US PPI, FOMC interest rate decision Thursday - ECB interest rate decision, US jobless claims
Long
by EllisonCapital