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Eurusd potential buy trade coming upHere we have a potential buy trade coming up on the Eurusd . Prices are currently in the 50-61.8 zone and at the trend line . Prices are also in the support zone , so if we can see signs of strength entering the market we will look to take the buy. A break of the wedge pattern may also give us a buy, If we get the buy here prices can rally into the 1.0800 zone. Another price level to watch is the 1.0600 psychological level because if prices break through our support zone the 1.0600 is the next key level to look for buyers.
Long
by Forexmentor
EURUSD neutral at the moment but with bullish structure bit.ly EURUSD is proving to have traced out the end of an initial corrective move and as such our weekly outlook is slightly bullish. We will take long (upside) opportunities on daily price close above downward sloping trend line shown with a target of 1.07628 first and at which point selling pressure might resume again to bring price back down over the coming weeks to 1.04871/1.04796 support zone. If daily prices close above the 2nd of February 2017 high of 1.08286, it will be considered confirmation of the end of the downward trend and the resumption of a lengthy bull (upside) trend for the Euro against the US dollar. On the downside, daily price close beneath the upward sloping trend line shown will bring the 1.04871/1.04796 support zone into focus. Penetration below the 1.04871/1.04796 support area should bring further decline of EURUSD to the 28th of Decemeber 2016 low of 1.03737. Weekly price close below this level will be confirmation of the continuation of the downtrend that started on the 13th of July 2014 and will be seen as progression of the downtrend for the euro towards parity with the US dollar. See actual chart via link attached.
by magbrr
1