EUR/USD

EUR / USD continued its ascent on Thursday and managed to reach the critical line of resistance 1.1260.
The short term trend remains positive.
In the momentum of studies, the RSI rose from its overbought zone and seems prepared to cross below 70.
MACD rose and could soon fall below the signal line.
On the daily chart, the break above 1.1045 marked the conclusion of a possible training 'double bottom' something that could represent bullish implications wider.

EUR/USD broke above the 1.1230 again today, but could not continue upward ,Next week i think that we will see more move up for the pair. peaceful weekend for all.

explanation of the trade I posted a few days ago coming from the weekly chart

Nice call on short GBPUSD Crazy, long below 1.50 is very good setup for next or short again 1.53 if it goes there.



https://twitter.com/goldenfxtrading/status/594171082552180736/photo/1

here is short what do you think ?

Sell EURUSD 1.1230 SL 1.1280 TP 1.1000 What do you think ?

Agreed and I am long EURUSD accordingly. My only concern is that we are the top of an ascending channel and I think between Mon and Wed we may see some dips, so watch your stops people it might be a bumpy ride. Of course the big event for next is the NFP data on Friday, that will determine the next few weeks of trading range for EURUSD.

I got stopped out many times this last month trying to get on a EURUSD north course and I could really use some payback. The anticipation of a June rate hike really seemed to mesmerize a lot of traders lately and now that June is kind of out of the cards we should see a lot of corrective movement for this pair, 1.15 seems pretty likely if Fridays NFP doesn't meet expectations.

goldenfxtrading posted:
Nice call on short GBPUSD Crazy, long below 1.50 is very good setup for next or short again 1.53 if it goes there.

Thx.

Yes, I'm looking to buy on 1.50 area if it holds.

Let's see if the EUR/USD will continue the uptrend in Monday.

Gnudarve posted:
Agreed and I am long EURUSD accordingly. My only concern is that we are the top of an ascending channel and I think between Mon and Wed we may see some dips, so watch your stops people it might be a bumpy ride. Of course the big event for next is the NFP data on Friday, that will determine the next few weeks of trading range for EURUSD.

I got stopped out many times this last month trying to get on a EURUSD north course and I could really use some payback. The anticipation of a June rate hike really seemed to mesmerize a lot of traders lately and now that June is kind of out of the cards we should see a lot of corrective movement for this pair, 1.15 seems pretty likely if Fridays NFP doesn't meet expectations.

You are right, NFP will be the main focus next week.

Possible bearish pullback on the EURUSD, especially if the US fundamentals get better.

EURUSD initially rose but found enough resistance at 1.1237 to give all its early gains and closed in the red near the low of the day, suggesting a shooting star pattern. We may see a pullback off this recent bullish move to 1.1034 before another move upward.

EUR / USD retreated after meeting resistance slightly above the main resistance 1.1260 line.
The short-term outlook is positive but needs a clear close above this zone to give confidence on the rise.
Studies of momentum, recommend caution.
The RSI left the overbought territory and the MACD rose and fell below its signal line.
There are also negative divergence between RSI and price action.

EUR/USD rebounded from 1.1230. but still I don't see any opportunity for opening position today.

Today was a bad day for the EUR/USD at all, hope we can see some pull back tomorrow.

Initially I thought that EUR/USD has broken above the resistance at 1.1260, but apparently that was not the case. The pair has formed a shooting star and a marubozu candlestick on the daily filter chart and will likely move to the downside again.

I do not understand why most of the traders do not go on other pairs, such as NZDUSD or AUDNZD?? These are less risky then EUR or GBP vs USD!

On yesterday session EURUSD initially tried to rally but found strong selling pressure at Friday’s open to turn around and close near the low of the day. The bearish correction is underway with the next stop at 1.1034 if it holds.

EUR/USD daily chart
As I have mentioned last week, after a major entry formation, a trend confirmation hook is required (some call it continuation hook).
Monday's bar failed to trade to a higher high than Friday's bar and therefore made the high from Friday a hook entry.
Many institutional traders use this entry as their first trade.
Place a buy-stop order 1 pip above the high from Friday (ask price)
The high from yesterday can be traded in the same fashion as an early entry.
Should today's high stay below the high from yesterday, it can be used as an entry as well.

Since Friday's bar traded into the first cavity stop already, the next target should be near 1.1450 and later near 1.1530

Any hook creates price-consolidation and therefore cannot consist of more than 9 bars.
The 10th bar is the last to break.

Today's bar is nr. 4 in the consolidation.