Jun 23 2016 at 08:35
Yesterday EURUSD rallied with a narrow range and closed near the high of the day, however closed within the previous day range, which suggests being slightly on the bullish side of neutral.
The pair managed to close above the 10 and 50-day moving averages that should now act as dynamic supports and continues trading well above the 200-day moving average that is acting also as a dynamic support.
The UK is voting today in its historic referendum on whether to remain a member of the EU, an issue that could decide the future direction of the country for years to come so expect extreme volatility and choppiness.
The key levels to watch are: The previous swing high at 1.1415 (resistance), the recent swing high at 1.1382 (resistance), the 50-day moving average at 1.1298 (support), a daily support at 1.1237 and the previous swing low at 1.1130 (support).
The pair managed to close above the 10 and 50-day moving averages that should now act as dynamic supports and continues trading well above the 200-day moving average that is acting also as a dynamic support.
The UK is voting today in its historic referendum on whether to remain a member of the EU, an issue that could decide the future direction of the country for years to come so expect extreme volatility and choppiness.
The key levels to watch are: The previous swing high at 1.1415 (resistance), the recent swing high at 1.1382 (resistance), the 50-day moving average at 1.1298 (support), a daily support at 1.1237 and the previous swing low at 1.1130 (support).
"I trade to make money not to be right."
From what I could see, a 'Bremain' majority will help EUR to break a long standing supply region between 1.1450 and 1.1500 with potential targets as 1.1800 and 1.2300. On the other hand, if 'Brexit' wins we might see a spike to the mentioned supply area where we can short the pair and hold at least until 1.1100. Who knows, 'Brexit' could encourage other countries to go for referendum which can be suicidal for EUR. Just my opinion.
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Emotional balance is the most important aspect for a trader.
Jun 23 2016 at 15:47
Tradology posted:
From what I could see, a 'Bremain' majority will help EUR to break a long standing supply region between 1.1450 and 1.1500 with potential targets as 1.1800 and 1.2300. On the other hand, if 'Brexit' wins we might see a spike to the mentioned supply area where we can short the pair and hold at least until 1.1100. Who knows, 'Brexit' could encourage other countries to go for referendum which can be suicidal for EUR. Just my opinion.
acc to me that resistance level will stand for another 6 months at least
For second day in a row the euro recorded an increase against the US dollar on Thursday and EUR/USD broke the resistance at 1.1389. If bulls keep pace, a test of 1.1443 is very possible. The session on Thursday started at 1.1294, closed with 91 pips higher and the intraday hight was marked at 1.1420.
rob559 posted:Tradology posted:
From what I could see, a 'Bremain' majority will help EUR to break a long standing supply region between 1.1450 and 1.1500 with potential targets as 1.1800 and 1.2300. On the other hand, if 'Brexit' wins we might see a spike to the mentioned supply area where we can short the pair and hold at least until 1.1100. Who knows, 'Brexit' could encourage other countries to go for referendum which can be suicidal for EUR. Just my opinion.
acc to me that resistance level will stand for another 6 months at least
Well, may be yeah. Remain vote doesn't change the ground reality anyway. A temporary push up might be there is what I expect if Remain camp wins.
Emotional balance is the most important aspect for a trader.
Never ever seen such volatility in last 15 years 😄😄
Jun 24 2016 at 08:21
EUR/USD daily chart
I have explained price congestions many times
Congestion = bar 11 through bar 21
first bar to trade is bar 17
today's bar on the daily chart is bar nr. 16
As one can see, even after the big break over night, prices are trading back toward the low of the MB which is at 1.1135
Trust the rules that you know and what you see on the charts and not what you think or others think. And that includes the media with all the hype!
Weekly chart on bar 13
Monthly chart on bar 14
Trade within the confines of the high/low of the MB, using a faster time frame than the one that is in congestion.
Most traders lose their money in price congestion, simply because they either don't know the rules or just ignore them.
I have explained price congestions many times
Congestion = bar 11 through bar 21
first bar to trade is bar 17
today's bar on the daily chart is bar nr. 16
As one can see, even after the big break over night, prices are trading back toward the low of the MB which is at 1.1135
Trust the rules that you know and what you see on the charts and not what you think or others think. And that includes the media with all the hype!
Weekly chart on bar 13
Monthly chart on bar 14
Trade within the confines of the high/low of the MB, using a faster time frame than the one that is in congestion.
Most traders lose their money in price congestion, simply because they either don't know the rules or just ignore them.
"a little bit of knowledge is a dangerous thing"
Jun 24 2016 at 08:37
EUR/USD rebounded considerably after the drop caused by the UK referendum results and now it's back to testing the resistance at 1.1150. That said, if the UK does begin the process of leaving the EU we will likely see a protracted move to the downside.
Jun 24 2016 at 08:49
Yesterday EURUSD rose with a wide range before the Brexit referendum and closed near the high of the day, in addition managed to close above the previous day range, which suggests a strong bullish momentum.
The pair continued to close above the 10, 50 and 200-day moving averages that should act as dynamic supports.
The key levels to watch are: A daily resistance at 1.1555, the previous swing high at 1.1415 (resistance), the 50-day moving average at 1.1298 (support), a daily support at 1.1237 and the previous swing low at 1.1130 (support).
The pair continued to close above the 10, 50 and 200-day moving averages that should act as dynamic supports.
The key levels to watch are: A daily resistance at 1.1555, the previous swing high at 1.1415 (resistance), the 50-day moving average at 1.1298 (support), a daily support at 1.1237 and the previous swing low at 1.1130 (support).
"I trade to make money not to be right."
Another bombshell, Scotland's First Minister Nicola Sturgeon has said: ''I intend to take all possible steps and explore all options to give effect to how people in Scotland voted.'' another words second referendum might be happening, I believe the words she was using is ''highly likely'', further decline is expected, parity seems very possible now.
The EUR/USD went down some 500 pips in today's session after we had the Brexit confirmed. The pair went to a low of 1.0911 from 1.1428. High volatility is bound to continue next week.
Jun 24 2016 at 19:40
Analysts predict 85-90 Pound to Euro,can't see parity,that would be a disaster for Uk.Paris will try to take Uk banking trade now,London voters wish to stay in.
"They mistook leverage with genius".
Jun 26 2016 at 15:39
Bearish on the Euro.
Positivity
On Friday session the single currency tumbled amid volatile trading, after Brexit vote surprised the market participants. The euro depreciated by 2.6% to 1.1086, an intraday high was marked at 1.1427 and the daily low at 1.0911. Friday's bottom turned out to be the lowest point since early March. The pair remains below the moving averages, while RSI is in favor of the bears.
Jun 27 2016 at 08:14
On the last Friday’s session the EURUSD crash dived with a mega range and closed in the middle of the daily range, however managed to close below the previous Thursday’s low, which suggests bearish momentum.
The pair closed below the 10, 50-day that should now act as dynamic resistances but managed to close above the 200-day moving average that should act as dynamic support.
The key levels to watch are: A daily resistance at 1.1237, a daily support at 1.1097, the 200-day moving average at 1.1078 (support), and Fridays low at 1.0912 (support).
The pair closed below the 10, 50-day that should now act as dynamic resistances but managed to close above the 200-day moving average that should act as dynamic support.
The key levels to watch are: A daily resistance at 1.1237, a daily support at 1.1097, the 200-day moving average at 1.1078 (support), and Fridays low at 1.0912 (support).
"I trade to make money not to be right."
Jun 27 2016 at 09:33
I decided to open a short position earlier today and my target is at 1.0980, although the pair could continue all the way down to 1.0900.
EUR/USD is trading around 1.1020 currently due to lack of fresh news. No interest at this point is causing the pair to consolidate at these levels and until something exciting happen we might see it further consolidate.
Jun 28 2016 at 02:32
The EURUSD stops at the 1.1000 level, to the downside, the 1.0900 zone may act as support. To the upside, the 1.1100 may act as resistance.
Jun 28 2016 at 05:01
i put sell.. any idea for maximum buy level i hope 1.1081 level and then falling down again?
On Monday session EUR/USD remained without significant change amid the suffered losses from Friday. The single currency added only 11 pips to a closing price of 1.1023 after consolidation within the extreme values 1.1083 and 1.0970. The is moving under the moving average, while the index of relative strength remains in favor of the bears.
