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EURUSD Trend ContinuationEntry - 1.1755 Target - 1.16555 (120 pips) Stop Loss - 1.18505 (75 pips) This is a trend continuation idea for EURUSD. While some USD Pairs (AUD, CHF, JPY) appear to be at an inflexion point for a potential correction, in my opinion the Euro should continue this bearish cycle. I define a downtrend on a four-hour chart when the price is under the Ichimoku cloud, the 200MA (blue line) is above the cloud, and where price action reacts reliably off of the Ichimoku conversion line and 30EMA (both lines green). The light blue lines are support and resistance levels drawn on weekly and monthly charts. I may cancel this early or revise my stop loss, depending on price action over next few days. I will make any correction to my idea as needed. The stop loss is located above the 30EMA and area of previous support (now potentially resistance). Thank you for looking! -Zedro
Short
by Zedro
Risk Time- EU Short at 1.1195 for 300+ PipsThis is risky, considering the strong wave of USD weakness, but my risk to reward ratio is very favorable. This trade has already been triggered at the entry level and is active. I'm basing my trade on technical, but also on a past support zone and the psychological level of 1.12. To the left of the chart, you’ll notice some vertical blue lines, which identify areas where the RSI had provided high overbought signals. The price dropped precipitously afterward. While there was certainly some higher extensions to the price after these signals were triggered, the 1.12 zone is a psychological ceiling and area of previous support/resistance. MY SL may not be suitable depending on how your strategy uses risk/reward, so you may not want to mirror what I have here. Entry Level: 1.11950 Stop Loss: 1.1295 Take Profit: 1.08375 I will provide updates as necessary, seeing as this is a longer term short position. Good luck.
Short
by Zedro
2
Time to short EURUSD?Yes! Or at least I think so. Indicators (RSI, MACD) are signaling a correction and we're up against a couple of trendlines (see wider view in chart below). This trade may not be for everybody with its one to one risk/reward ratio, but I'm confident in this position and would be happy to average my position here and there up to the second trendline. I've based my take-profit on a fib drawn the most recent climb. I'm also planning on closing if the price hits the 100SMA before hitting my target. Frankly, the 100SMA would be the ideal, dynamic TP level, but for this trade, I'll stick with the 0.383 (1.08050). Scary times to trade Euro-pairs given the upcoming French election, but there is time and room for a correction before the final round. Entry 1.0940 SL 1.1070 TP 1.08050 Good luck!
Short
by Zedro
2
Upcoming Long or Short Opportunity: EU at Converging TrendlinesI'm mostly on wait-and-see-mode with this trade, but there's opportunity for large, longterm profits in EU. I'm looking at this inverse head and shoulders pattern/symmetrical triangle. Here are two scenarios I'll be tracking if/when the price hits the 1.07940 area: 1) Inverse head and shoulders neckline is broken. In this case, we are in for a longterm uptrend (TP targets would be identified later). I would recommend buying into this trend after a brief retrace to around the 1.08000 level (psychological support after breakthrough). 2) Continuation of trend within the symmetrical triangle. In my opinion, this is the more rational scenario given Eurozone instability (Brexit, elections) and U.S. strength. Also, my MACD and RSI techs indicate a potential reversal. This is a medium-term downtrend to a TP at 1.06000 (again, a nice psychological level). Symmetrical triangles are traditionally neutral in nature, so I wouldn't be surprised if the lower trendline acts as support for a pivot up. I'll be monitoring this and will provide updates to my idea. Good Luck!
by Zedro
5
EURUSD October 24 OutlookEURUSD October 24 outlook Let's analyze what will happen on EURUSD, especially on this week. As we can see this pair still in down trend, maybe buy is not a good option trade. If you wanna buy in this pair, use a stoploss and open at right support level. There is two major forex pattern in EURUSD, channel down pattern and descending triangle pattern. At channel down, as long as this pattern not break up, Sell and take profit inside this area will be best option, keep short position on EURUSD, and wait for another short change. Descending triangle pattern are very important to find where is the strong support, and intraday bullish possibility. Ad if the support break down, short position will be save heaven for all., because EUR/USD will enter the zero-G freefall to 1.000. and its very suitable for swing trader. But breaking the major support its not easy, as we can see 1.0820 are may 27 strong support level, and also strong support at july 21 and march 29. So to break down this support need a strong fundamental news event. Move to resistance level, in EURUSD there are two strong resistance for this week, June 23 and july 22 support will become strong resistance, August 05 and last week resistance also a good resistance for this week. So we get our resistance level at : Resistance 1 : 1.0950 Resistance 2 : 1.1040 So this week support resistance already clear. If you are in short position, best TP at support level, and if you are in long position, best TP at resistance. Best opening position for this week base on fibbonaci pattern. If the price bounce up, wait for sell entry at .618 and take profit at 1.414
Short
by AzrulAzir
1