EURSGD trade ideas
EURSGD ____ INCOMING BULLISH RALLYHi Guys,
I'm sure most of you are unfamiliar with this pair, however, this pair has some good price movement at play that could provide nice trading opportunities. We just had a bit of a sell-off for the past weeks as prices entered a strong weekly/monthly supply zone.
This sell-off brings the price to a key daily demand zone of which the price is meant to cool off bearish steam.
Looking at my chart, you will notice that price is currently sweeping sell-side liquidity and by the time this sweep has been satisfied, the bullish rally will begin.
I expect the price to get into my POI (blue box) before I start looking for CHOCH from bearish to bullish.
If you like this analysis, be sure to give me a like.
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Cheers,
David
POTENTIAL SHORT TRADE SET UP FOR EURSGDPair: EURSGD
Analysis: Chart Patterns + Highs & Lows + Impulses & Corrections
Directional Bias: Short
Entry: Continuation Corrective Structure after the breakout.
⚠️ Do your research and apply proper risk management as nothing is guaranteed in forex trading. As we have often said, this is a high risk venture and past performance is not indicative of future results. Trade Responsibly!
#TheTradingAmbience 🙏🏽🙇🏽♀️
EURSGD - Bullish Trend - 1 Hour Time Frame Based on the chart, it appears that there is a bullish trend forming as evidenced by higher highs (HHs) and higher lows (HLs). Further analysis using the Relative Strength Index (RSI) indicates that there is currently no divergence present. With this in mind, we recommend taking a long trade with a risk/reward ratio of 1:1.
To execute this trade, we suggest entering a Buy Stop order at 1.46468 with a Stop Loss order at 1.46036. To manage risk, we recommend using a Lot Size of 0.25. In terms of profit targets, we suggest setting Take Profit 1 at 1.46907 and Take Profit 2 at 1.47345.
Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
EURSGD 1H - Bullish FlagAnalysis:
EURSGD is currently printing a Bullish Flag. If the price breaks above 1.45182 which is top of the pole, it will be a sign of bull trend continuation. In this case we can enter in a long trade. For this trade the stop loss will be at 1.44374.
------ Trade Plan------
Type: Long
Entry: 1.45182
Stop Loss: 1.44374
TP1: 1.45990
TP2: 1.46975
EURSGDEURSGD - Break out...Coming soon!
EURSGD - Technically it's brewing for break out to either direction. We are currently within the ranges of Highs: 1.44965 Lows: 1.41187
If we are to break the lows, expect the recently low areas of 1.37625 to be target areas.
If we are to break the hight, expect the the two key resistance areas to be tested and to be target areas 1. 1.47285 & 2. 1.49660
I have even enjoyed trading the USDSGD - very clean set ups!
Have a great week ahead,
Trade Journal
EURSGD - W patternHello traders! We can spot a similar formation on EURSGD as on EURJPY, about which I discussed in my previous post, and which has already reached the take profit. EURSGD also seems to create a strong impulse downwards, completing to the neckline the W that was formed on the daily timeframe . We can see that the MACD is below 0 and EMAs are crossed, showing us a bearish environment. From here, there is a high probability of reaching the neckline of the daily W, going to at least at 1.425
OANDA:EURSGD FOREXCOM:EURSGD
Perfect automated detection of WhiteSwan pattern - ShortA Bearish-type WhiteSwan pattern occurred.
Also on the daily chart, Bearish-type WhiteSwan pattern may occur in the future.
Short after seeing the rebound.
*Harmonic patterns are automatically detected using the indicators below.
- Harmonic auto-detect PRO
How forex can help you to save for your kids' educationSee tuition fees here
So for a bachelor degree, I would need 42,500 EUR (excluding Room and Board). That is equivalent to SGD 66,000 based on current price action.
I assume actual exchange rate may differs but this is a rough guide for planning purposes.
The chart shows since 2008 till current (12 years) that one can make about 53% from buying into this pair and hold till the peak at 0.69. Now that it has return to the bullish trend line, it serves as another good buying opportunity for the mid to long term.
A good 8-10% profit can be expected so long as the bullish trend line stays intact.
I hope this can serves as a good education planning tool for some parents out there.