EUR/USD

the trading range is very narrow with almost no movement at all.

I agree with you Sherif that today was quiet day.

EURUSD fell initially during the course of yesterday session, but found enough support near previous day low at 1.1270 to turn things back around and form another doji pattern. The pair continues to consolidate below the 10-day moving average with a thigh range. A break above the 10-day moving average could push the pair a daily resistance at 1.1555 on the downside a break below previous day low could pull the EURUSD to year lows at 1.1097.

EUR / USD fell slightly yesterday.
In the short term, without relevant news, the EUR/USD is expected to remain neutral.
In a longer-term analysis, the price structure also suggests a long-term downward trend in revealing minimum and lower highs.
R3 - 1.14239
R2 - 1.13843
R1 - 1.13515
Daily Std. Pivot - 1.13119
S1 - 1.12791
S2 - 1.12395
S3 - 1.12067

The EUR/USD consolidation continues. Even if the pair breaks below the support at 1.1270 we cannot be certain that the bearish trend will continue unless it breaks below 1.1150 too.

price is testing the support line 1.1260 and fail to break under from the start of the week

Greece is the only saviour for the trapped EUR bulls.

victoriajensen posted:
The EUR/USD consolidation continues. Even if the pair breaks below the support at 1.1270 we cannot be certain that the bearish trend will continue unless it breaks below 1.1150 too.

I agree with you totally, thank you.

the 4-hr chart is in price-congestion with currently 18 bars.
According to the congestion rules, there is a legitimate buy-stop entry at 1.1351 (ask) plus 1 pip.
Prices vary depending on the broker.
A trade can be attempted to near 1.1400 to 1.1420, as there is a GAP to be closed on our charts at 1.1393.
Optionally the buy-stop entry price can be moved to 1.1360, which is the highest point in the trading range.

EURUSD did very little to nothing during yesterday session, testing the 1.1279 level yet again. This is the new active bottom of the market, and as a result if the pair breaks above the 10-day moving average we should see a run up to 1.1459 that we have been seeing over the last several sessions.

It was no surprise at all that there wasn’t an agreement for Greece from yesterday’s meeting of finance ministers. Neither side can even agree on what is up for negotiation. Germany had taken the calculated risk that Greece has more to lose than they have, so have chosen to hold tight. For their part, they know that giving Greece the negotiating room beyond the Troika will open up the doors to further anti-austerity movements in the eurozone and they fear they will be the ones paying the price. That also amounts to electoral suicide domestically. So if we can say anything about the price action on the single currency over the past 24 hours, it’s that the market is taking the view that Greece is the one that is going to blink first. EURUSD is comfortably above the lows yesterday seen at 1.1280.

Trade reference EUR/USD 4 hour chart.
buy-stop @ 1.1351 ask + 1 pip
as expected prices have closed the GAP now at 1.1393 and are headed toward the trend line near 1.1420.
1.1400 has been reached.
Mission accomplished

PERPETUUMMOBILE posted:
Trade reference EUR/USD 4 hour chart.
buy-stop @ 1.1351 ask + 1 pip
as expected prices have closed the GAP now at 1.1393 and are headed toward the trend line near 1.1420.
1.1400 has been reached.
Mission accomplished

bro now you think sell is contnnue now??

It looks like EUR/USD broke above the resistance at 1.1350, despite the several doji candlesticks it formed in the daily filter chart right under it. I think that next target is likely 1.1550, perhaps even 1.1600.

The EUR/USD right now can only be bought all the way to near 1.1460, because the next reverse-hook on the 4 hr chart is at 1.1497 with nothing in between.
these are the rules for trading out of congestion

Trade reference EUR/USD 4 hour chart.
buy-stop @ 1.1351 ask + 1 pip

the second exit near 1.1420 has been reached as well.

a breakout of congestion only has longer-term value, if it is followed by a hook, without trading back into the congestion where open or close of a bar or both are inside the measuring bar.

If this is the case (on the 4 hr chart), then the high of the hook is a major entry signal, as it is considered a confirmation and continuation of the new trend. (price bar formation rules)

a hook is defined by a bar that has a lower high than the preceding bar in an up-trend
and a higher low than the preceding bar in a down-trend.

These rules apply to any chart timeframe.

the price was consolidated around the support level but failed to break under it and started a correction.

The EUR/USD up today taking advantage of the dollar weakness and broke above the 1.1350 .

EURUSD I´m short guys TP 1.10....