EUR/USD

What a gap, no sign of make recover from the gap yet.

big gaps sometimes stay open for an extended period of time. there are 3 types of gaps: break-away / run-away / exhaustion gap. These gaps usually can be found on the daily and/or weekly charts.
keep in mind, there are still gaps open at near 1.0528 and 0.9800 which are from 2002 / 2003 (over 12 years old!)

Euro/USD heading to 1.3100

Maybe. That does look like double bottom to me in the 1 hour chart so we may see some temporary recovery first, but I think after that it will keep falling.

Hi, and i thing that it will test the 1.3100 too in the end.

EURUSD decline continues making new fresh lows on Friday at 1.3220 with no buyers in sight. The down trend continues intact for now but with a high risk of a short squeeze as stochastic is showing oversold conditions, the next support zone is within 1.3106 and 1.3174 reporting to September 2013 low.

takechance posted:
1.3294 is the point I am getting out of long trades. Play safe. :)

But I strongly believe it has a potential to rally another 100 pips and reach 1.3380 in 2-3 days.

Percfectly reached 1.3297 as the high on that day. Closed out everything at 1.3294 as targeted.

Today one can go long now around 1.3190 with a target of 1.3229

Cheers :)

Trying to catch a retracement for tomorrow on the EURUSD could work.

the gap is putting the market in uncertainty , i think today's US data can be the trigger either to the continuous or to the reversal

sherifFares posted:
the gap is putting the market in uncertainty , i think today's US data can be the trigger either to the continuous or to the reversal

I fully agree with you sherifFares.

The EURUSD gapped lower yesterday, as the bearish pressure on the Euro continues. Breaking below 1.3185 and making new lows but is showing some signs of exhaustion and today we may see some recovery.

sherifFares posted:
the gap is putting the market in uncertainty , i think today's US data can be the trigger either to the continuous or to the reversal

Let's hope so, if the US data won't make any significant change, we will enter another ranging period.

I think it is likely to recover the gap and then continue falling. We'll wait and see.

takechance posted:

Percfectly reached 1.3297 as the high on that day. Closed out everything at 1.3294 as targeted.

Today one can go long now around 1.3190 with a target of 1.3229

Cheers :)

Didn't go well as per expectations. Reached max 1.3213. I am trying to get out the 1.3190 long trade at 1.3198 today.

Happy trading.

I wonder when the correction will be triggered, I think it has to happen any time now

if euro/usd pass 1.3160 sure it heading to 1.3100..

On August 14. I posted a simple ledge entry signal (daily chart) with a precise entry price -- sell at 1.3334 (-1 pip) -- with a short-term goal near 1.3270 and a long-term goal near 1.3150.
The short-term exit was reached 5 days ago and the long-term exit was reached over night (1.3151).
A simple and safe trade with only 7 bars involved.

Price-bar formations have not changed in decades - they've always been the same and therefore the ONLY safe way to trade any market.

EURUSD tried to rally initially during yesterday session, but the 1.32 area has offered resistance once again. The market seems like it’s ready to continue the move downwards, especially considering that the candle closed near the low of the day. The market should head to the 1.3102, which is the next area of support made on September 2013 low.

I am hoping it will break through the resistance at 1.3200 and reach 1.3250 but after that I too think it will start falling again and reach 1.3100.

Hi,
for today i am not expecting any remarkable move for the eurusd .