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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
EU - Potential Short entry.EU - Potential short entry - All the Brexit things caused some big uncertainty in the EU. Other country may follow the example with a referendum. Since there worst thing for a market is uncertainty this should create some nice downside pressure. On top the ECB is getting more and more desperate pumping cheap money into the market to weaken the Euro even more aggressive. The effects of it will likely cause a lot of volatility but I remain sceptical of the success of further easing desperation moves in the end of the day. This short entry would give us a good risk reward ratio. But a weak dollar is also possible which would make the Euro rally really hard coming to the end of the week, especially with the upcoming NFP data. Also the SSI shows retail traders are net short EU which would favor a topside target for now. But for a long play it's too late to get a good risk reward ratio at this point.
Short
by TReano
The TTIP Greenpeace leak 'shows risks of EU-US deal' (Short) TTIP trade talks: Greenpeace leak 'shows risks of EU-US deal' and may drive EU short to 1.12 this week. Secrecy encompassing the discussions has fuelled huge fears that US enterprises may dissolve Europe's consumer protections. The precautionary guideline can drive a producer to demonstrate the nonappearance of threat from a product. There have been protest regarding this situations, which I am convinced may drive EU short this week.... Have fun trading, set your SL accordingly - should you decides to walk away from your trade. All the best!
Short
by DR.
1