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EXY

EUR/USD in a Daily Cup and handle breakout pattern!Hey, I am back yet with another Forex Analysis. Today I have decided to take a better look at EUR/USD, because part of me really want's to short it as it's in strong resistance area. But! The price in this area is really stable and still showing some bull signs, so I have decided to long this pair as I have spotted it, in clear Cup and handle bullish breakout pattern. Also I was looking at EXY and DXY, EXY is in a strong uptrend, and DXY is barely holding now on good known support area, which makes me pretty bearish on overall USD pairs. Some more bull signs on the chart - The RSI is above 60, which is for me range where the moves bull moves start to happen. - MACD has started a buying wave in buying territory. - Daily Golden cross How to trade this? Entry -1.14000 - 1.14300 Take profit - Slightly below 1.15500 and 1.16100 That's a lot of pips to be made! I know that more people would be looking to short this pair, but I don't see here a reason to go against the trend, even though I shorted EU succesfuly in this uptrend. I will update this idea regularly if I see some good feedback! Make sure to follow me in order to not miss out on my future regular setups. If you found this setup useful, please don't forget to leave a like! 🙌
Long
by TiborVrbovsky
1
The Euro Index (EXY) Here on the Euro Index we have a 222 pattern that formed. what i like to see is that this pattern lines up with the COT report that was released Monday due to July 4th (United States Birthday :D 'merica) being observed on July 3rd. in the circles we have three potential bearish star patterns printing on the PRZ which is a resistance level. depending on how today closes! The COT shows the same thing. this is the first time we have seen some profit taking and contract deliveries by both the commercials and non-commercials. The Commercials delivered about 14k contracts while the non-commercials took profit on about 10k orders. the net data is as follows: Commercials: Current = (147,128)// Previous= (162,540) Non-Coms: Current= 98, 955// Previous= 118,448
TVC:EXYShort
by ARegularGuy
EXY (Euro Index) Technical and COT Analysis Here on the EXY The Euro Index we have the daily and weekly outlook. Now, the euro is playing off a 222 pattern off the Daily chart and the price level is quite significant. Now, for those who have been looking at my charts for quite sometime you will know i hate oscilitaors but until i get candlestick charting down a bit better i use them as a form of confirmation. So, with all being said on both the weekly and daily we have bearish signals. So, on the weekly ***insert personal aside here>>> I have been doing a lot of reading based on Steve Nison's work on Candlestick charting. I own his first book and found his second and his Candle Stick Chart Course book with the help from a friend on here TradingView. I am re-reading all his books to refresh my memory or learing something new*** we have a large resistance area that was made up by two weeks of strong selling. Once PA made it near the top of the resistance area PA started to break down. We know have a few weeks now of indecesion candles with this past week trowing a doji candle. From a techinical standpoint I am expecting price to dip down to the red line which is an 88 candle swing point. So, if this coming week is a bearish one then expect more bearish sentiment until we hit the pending orders of the Big Players having their buy orders near or in a support area indicated on the COT Report (which i will discuss in a bit) Next, on the Daily chart we have a 222 Pattern that has completed and is still in play. it has completed its T1 setup so we can either see more downward movement to the target 2 or a retrace to the PRZ and then a push to the lowside for Target 2 to be hit. Seeing the indication of the weekly Candles i am epecting more downside rather than up! For the COT Data... This is reason i think we havent hit the pending orders of the Big Players, we have for the past few weeks seen the Commercials Increase their shorts but pice is still moving down. Now, for my COT fans Commercials go aganst the trend to lock in a particular rate or price to protect their physical profit made from day to day business. The commercial Shorts have increased their positions by 10k orders and the net data will be displayed later. The non-commercials are still buying from the Commercials but were not seeing any movement to support these numbers. Now, Unless we are seeing some major COT Manipulation by opening orders and quicly closing them before they get filled is one way, or the side im willing to say is more likely is that we havent filled the orders yet and price is still drifting aimlessly. I assume once we start filling these orders we will see some major volatility and start moving in the right direction which would support more downward movement for a cheaper price before we go up COT Net Data Commercials: Current (162,540) // Previous (155,035) Non-Commercials: Current = 118,448 // Previous = 117,132 Again, i think we will see some downturn based on the techincals then we will hit the pendings of the Non-Commercials in a support zone and then off to the races! So at the moment short then a major support level hit Pendings filled and then we move up for a... w h i l e!
TVC:EXYShort
by ARegularGuy