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Eurusdtrading

** EURUSD ** a nice monthly review so far for EU Hi all, hope you all had a great weekend and ready for a fresh week on the charts. The entry price, stop loss (in pipettes) and take profit are shown on the chart itself. Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress. My name is Al, I'm 40 and from the UK. I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as I can. Any questions, feel free to drop me a direct message if I can help. These ideas, aren't specific advice from me - so if you enter, of course do your own due diligence - always manage your risk like a pro too. This is all for information and education. Have a great day, Al. 🙂 PS. Check my other 'Related Ideas' too.
Long
by AL-1-
EURUSD: Outlook ahead of the Nonfarm Payrolls.This is a break down analysis of EURUSD ahead of the Nonfarm Payrolls. Fundamental Analysis: - The U.S. Nonfarm Payrolls for January have a forecast of 160K, higher than the 145K number of the previous month. - Based on the last 12 Nonfarm Payrolls reports, EURUSD has a 100% probability to go higher on the 4H chart if the Actual number is lower than the Forecast. Similarly on the 12H timeframe if the Actual reading is higher (>) that the Forecast there is a 66.7% chance to go lower, while for the opposite reading (Actual < Forecast) there is a 80% to go higher. The projection on a 2 day timeframe is also 66.7% probability to go lower if the Actual < Forecast. - Also keep in mind that EURUSD is in the aftermath of the effects by the higher than expected German Trade Balance. This gives a 66.7% probability for EURUSD to rise on the short term (4H and 12H). Technical Analysis: - The pattern is still a Channel Down since the December 31, 2019 High. - The Resistance levels are at 1.11750 and 1.12400 while the Support at 1.09800 and 1.08800. - Death Cross (MA50 crossing below the MA200) formed on the 4H chart. - The RSI is bearish on the September Support. The above mix indicates that EURUSD is bearish both fundamentally and technically on the long term and as the 1.09800 Support 1 broke, targets the 1.08800 Support 2. On the short term though, with the German data supporting an up move and if the U.S. Nonfarm Payrolls report lower than expected numbers, we may see a brief spike, which would make an ideal Lower High on the Channel Down technically and can be seen as the longer term sell opportunity. If however the 1.094 level breaks first, then the Channel Down is invalidated and we will most likely see the 1.08800 Support 2 sooner than expected. If you like this idea give us a like, follow and share your thoughts in the comments section below. Remember to stay tuned for future technical analysis , news, updates, and more from PrimeXBT!
Short
by UnknownUnicorn3931771
EURUSD - Sell Opportunity First of all EURUSD in down trend. so i prefer to sell. but there is another thing means EURUSD in over sold situation and its already crossed the bottom bollinger band which is a price reversal for uptrend. But still you can get few pips selling of EURUSD in current trend. You can see the RSI which reversal from 41.05 level (orange horizontal line) and we have history shown that if its reversed from 41.05 level (orange horizontal line) price has go down. Note: Trade at your own risk and fundamental can be involved. Like and comment us.
Short
by TuanMSallay