First pls check my attached charts then i believe that
1) Daily chart since the 28 of June has entered inside ( minor range ) for the strong up trend between points 1.1337 & 1.1465 2) On Monday 17 July the daily candle closed over the upper point point 1.1465 & Yesterday Candle have a good breach and hold 3) Today will be pull back
Two ways to enter the next by
First: To wait till pull back return to point 1.1465 then after price action candle reversal activate buy and target 1.16
Second: if the pull back counties wait till point 1.1337 and enter aggressive buy entry first TP @ 1.465 & 2nd TP 1.16
The EURUSD was corrected lower yesterday bottomed at 1.1510. The bias is neutral in nearest term probably with a little bearish bias testing a minor trend line support and 1.1500 – 1.1450 support area as you can see on my daily chart below, which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.1550. A clear break above that area could trigger further bullish pressure testing 1.1615 area or higher. On the downside, a clear break and daily close below 1.1450 could trigger further bearish correction testing 1.1350 region but as long as stay above 1.1285 I remain bullish and any downside pullback should be seen as a good opportunity to buy.
Might be a risk to a downward adjustment of inflation similar to the BoJ, eyes will be on Daghis press conference. Expectations are fairly split. But a majority expect a slight tweak to the QE program language.
stian posted: Might be a risk to a downward adjustment of inflation similar to the BoJ, eyes will be on Daghis press conference. Expectations are fairly split. But a majority expect a slight tweak to the QE program language.
Profit taking before this news, should get some bullish flavour from ECB later
EUR/USD almost reached 1.1700 today. The pair is unlikely to break out above that level today before the market closes, not to mention that there is a distinct shooting star candlestick on the four-hour time-frame that is a signal for a likely retracement to the downside.
The rally continues on the EURUSD, a breakout above the 1.1709 level will mean the pair has broken above the 2 and a half year range, a breakout above the 1.1748 level will mean the pair has broken above its 55 Month EMA and it will have the road clear all the way to the 1.2000 level.
The euro rose against the US dollar on Friday. By the close of US trading, EUR/USD was trading at 1.1664, adding 0.28%. I believe that support is now at 1.1433, Monday's low, and resistance is likely at 1.1683, the high of Friday's trading.
Risk remains on the upside, immediate support at 1.1685, break above lead to 1.17 area. Very busy week ahead of us, Existing home sales on Monday, FOMC meeting on Wednesday, New home sales on Wednesday and Initial jobless claims on Thursday.
EUR/USD found some resistance at 1.1680 and bounced off from that level, forming a pair of shooting star candlesticks, a doji and a hanging man candlestick on the four-hour time-frame. The first target to the downside is likely 1.1600.
The single currency recorded a modest decline against the US dollar on Monday. The currency pair opened at 1.1662 and ended 21 pips lower. Graphics continued to grow above the moving averages, while the relative strength index remained neutral. Given the dominating positive attitudes in the long run, it is likely that the pair will reach a new peak.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.