J-EUR
EURCHF facing bullish pressurePrices are currently taking support from 1st support which coincides with 50% Fibonacci retracement and Fibonacci extension level. Prices might bounce to reach 1st resistance which coincides with the 50% Fibonacci extension level. If prices fall through the ascending trendline support, stop loss would be at the 2nd support which is in line with 78.6% Fibonacci retracement and 161.8% Fibonacci extension. MACD is also showing bullish signs for prices.
EURAUD is facing bearish pressure, potential for downsidePrices are facing bearish pressure from 1st resistance level, in line with horizontal swing high resistance, which coincides with 78.6% Fibonacci retracement as well as 50% Fibonacci retracement. Prices might push down to our 1st support level which is in line with 61.8% Fibonacci extension, 127.2% Fibonacci extension as well as horizontal swing low support. If prices break through 1st resistance, it might hit the 2nd resistance which coincides with the 127.2% Fibonacci extension. Stochastics is also showing that it might face resistance and pullback from the 77.0 level.
EURJPY facing bullish pressure, potential for more upsidePrices are currently taking support on the 1st support which coincides with 50% Fibonacci extension as well as 61.8% Fibonacci retracement. Prices might bounce higher towards 1st resistance which coincides with swing high resistance and 61.8% Fibonacci extension level. If prices fall through first support, it is likely to reach the graphical swing low support which coincides with 78.6% Fibonacci extension. EMA also suggests that there is a bullish pressure on prices.
EUR/USD Shows Double Top Formation! While DXY forms structure?Hi Everyone,
I thought I would post some thoughts following yesterdays EUR/USD post. We have seen a daily shooting star and 1 hour double top market structure on the EUR/USD since then, the projection seems to point for a touch of the 20 exponential moving average on the DXY and EUR/USD!
Good Luck everyone,
Tom