Forex Trader DailyAfter a strong rally through Monday are the EUR/USD bulls ready to take some profits off the table?
If prices can sell-off through the low of the current sideways range, look for a push towards the psychological level at 1.3150 and then another push towards 1.3120. The current market cycle on the 5-minute is accumulation so [...]
The 1.2395 to 1.2413 area is an aggressive sell-zone for the 15-minute EUR/USD which could continue to exhaust as selling pressure build at the big figure level. The “00″ has already attracted enough bears for prices to reverse at 1.2413. The 15-minute’s distribution market cycle sets up a shorting opportunity as prices rally once again [...]
The 15-minute chart of the EUR/USD is in a mark down cycle with the extended weakness of the pair. The 15-minute time frame is an effective way to set up near-term corrections into trend following short sells.
A Fibonacci Retracement of less than 23.6% is a shallow bounce that can be aggressively shorted. Here the bounce is well [...]
With the downtrend slowing as the mid-day U.S. session doldrums are effecting the market, the EUR/USD is congestion just below the 34 period EMA low. Should prices bounce to this resistance level, look to take a short entry off the 1.3580 level with a stop loss at 1.3607. Use the resistance of the 1.3600 “big [...]
The 15-minute EUR/USD has formed a Channel Down pattern as prices are trending lower in a mark down cycle. The resistance of the Channel is currently holding the EUR/USD in a downtrend and setting up a swing short if prices can bounce — as they recently did already — to the 34 period EMA low [...]
The EUR/USD has trended higher intraday taking this once consolidating market into a mark up cycle as can be seen by the 34EMA Wave.
The uptrend is setting up a potential intraday swing if prices can correct back down to the 34 period EMA high which is currently at 1.3532. Prices are now approaching the intraday [...]
The 30 minute EUR/USD is trending lower as the 10am EST Philly Fed is approaching. This could trigger a correction to the 1.3688 level and a trend follow entry.
Entry 1.3688 short
S/L 1.3705
Target 1.3650
For educational purposes only.
The 30 minute chart of the EUR/USD is trending lower towards the support about what is shaping up to be a soft triple bottom.
A “soft” support or resistance level is one where there is more than five pips of “variance” between the lows or highs.
Here the lows are 1.3646, 1.3650, 1.3655. There is also a [...]
After the swing correction short on the EUR/USD, the exhaustion at the 34ema low triggered a follow-through to the downside. Next step, find the support levels buyers could be watching.
There are a few approaches here. First focus on the most basic of level: Psychological Levels.
As prices are currently trading near 1.3620. Look to the 1.3600, [...]
The 30 minute EUR/USD has congested into an ascending triangle pattern as prices are bouncing along a horizontal ceiling and the uptrend line support. The market cycle is not ideally flat however and this puts into question whether or not there will be momentum higher through resistance or lower through support to justify a momentum [...]