This is a counter-trend trade simply playing off a break below previous lows. Short term, EURUSD contains to maintain its bearish stance with no slowdown of each sell-off signalling the end of a bear run.
Selling pressure is much weaker as pair fails to break lower low. This marks we are near the end of the selling pressure for the time being. U.S. Dollar also remains weaker on slight uptick on unemployment claims.
Support level seems to be holding up Bullish candles are engulfing bearish ones Current bar serves as potential for breaking above this range
This pair is failing to break multiple tops on this hourly down-trend. This currently signals that the Euro is fundamentally weaker than the Australian Dollar. This remains a short term technical play on the hourly time-frame. Current risk is the Australia CPI figures.
Pair breaks above one of the two resistance levels Shorter term 4-hour time-frame points to bullish pressure as sellers were unable to drag prices lower Over on longer term daily time-frame, we see first indication of non-overlapping bar --> early signal of bullish range breakout
Trade just hit take profit at daily level Successful close-out
Bearish candle fails to close below support level Next take profit target just under the daily level
Current buying opportunity on a daily pull-back provided the lower boundary range still holds up. Overall uptrend on daily time-frame, current entry maximizes R:R.
Met with daily resistance and failure to break above previous high Broke below neckline and currently held as resistance on 4-hour timeframe
Currently crossed above daily resistance Observing if this break out above will hold up If it holds up, next take profit would be just below next resistance daily price level
Engulfing candles signify bears are quickly covering any bullish rally
Long entry on trend play formed since middle of April Friday's CPI and retail sales beating expectations should provide another strong Dollar rally
Broke above previous highs, made retracement, and on track for continuation Set partial take profit to most recent high after break-out at the 1.367~ mark Second part take profit is to trailing stop loss to either get triggered or until market close Currently, no intention on keeping trade open past weekend
Dashed line marks daily level which this pair considers as resistance Currently in the movement for the second wave sell-off
Break down below a key zone Short entry places with stop loss just above zone
Currently sitting at the bottom range Long bias, with easy direction if breaks out lower Support zone is holding up with longer bullish candles with several bearish candles making up the same distance
Tests daily upper bound of wedge with potential breakout Long entry off initial retracement
Yen remains the go-to safe haven against the U.S. Dollar 110.8~ marks a key decision zone Prepare for further downside with payrolls coming up