I still say it's going to go back up. There's too much negative political tension to keep the USD strong. I'm still long on the USD, I just added an additional Long trade into this pullback. My target is still 1.1820
The single currency recorded a decline against the US dollar on Thursday. The currency pair opened at 1.1733 and finished 58 pips lower. The price managed to break the first support at 1.1700 and if the direction of the traffic went down, there would likely be a breakthrough in the next support at 1.1520.
as this week prediction was right, next week seems to have bullish tendency, and this is just price prediction, not including fundamental sentiment... but be aware of reversal... there are possibility of it.
On the last Friday’s session the EURUSD rose with a narrow range and closed near the high of the day, however the currency pair closed within Thursday’s range, which suggests being slightly on the bullish side of neutral.
The currency pair is trading above the 10, 50, and 200-day moving averages that should provide dynamic support.
The key levels to watch are: a daily resistance at 1.1829, other daily resistance at 1.1753, the 10-day moving average at 1.1649 (support), a daily support at 1.1460 and other daily support at 1.1556.
If you are tracking EURUSD for trading opportunity this week, you may like to consider my top-down technical outlook on the pair.
The pair has been operating in a multi-year consolidation pattern or range (bound by two magenta coloured horizontal lines) for a long while. On the weekly time frame, five price waves have formed within the range, beginning from March 15, 2015. The most recent price wave pierced the distal part of the range and last week moved about 80 pips above it. However, sellers intervened and price action yielded some ground ending with less than 60 pips above the distal part, around the 1.17485 area. Furthermore, price action is respecting a support trendline (chocolate colour) from the low of May 2017. Should buyers regain control, a likely target is the immediate resistance around the 1.18700 area. Otherwise, we may see sellers push price action southward, perhaps to target the immediate support around the 1.16680 area or by extension a retest of the support trendline (chocolate colour).
On the H4 time frame, price action has moved above the support trendline seen on the weekly time frame and is operating in an ascending channel (bound by two navy coloured lines). Last week, price action within the channel was largely ambivalent or sideways around the distal end of the channel. Apparently momentum for a bullish drive is weakening and we may see a southward turnaround this week, perhaps to target the 1.16170 area which is the origin of the most recent rally northward, or by extension the proximal channel line.
Not only did EUR/USD rally again today, but it finally broke out both above the previous high at 1.1775 and above 1.1800. The trend is very bullish and there are no major resistance levels on the way up.
By this rising rate, tomorrow it will be 1.19, and the day after tomorrow it will be 1.20, and by Friday next week, it will already reach 1.22. Let's go euro! Close many of the gaps you left in the 2014 decline!
Actually, when it becomes vertical, the acceleration will be more than linear. So, if there is another buying wave or profit-taking from those who shorted at the 1.3 - 1.4 levels, then it could become vertical, escaping the gravity to the moon. If that happens, then 1.25 could be reached next week.
ПРЕДУПРЕЖДЕНИЕ О ВЫСОКОМ УРОВНЕ РИСКА: торговля иностранной валютой связана с высоким уровнем риска, который может подходить не для всех инвесторов.
Кредитное плечо создает дополнительный риск и вероятность убытков. Прежде чем принять решение о торговле иностранной валютой, тщательно проанализируйте свои инвестиционные цели, уровень опыта и толерантность к риску.
Вы можете потерять часть или все свои первоначальные инвестиции. Не вкладывайте деньги, которые вы не можете позволить себе потерять. Ознакомьтесь с рисками, связанными с торговлей иностранной валютой, и обратитесь за советом к независимому финансовому или налоговому консультанту, если у вас возникнут вопросы.
Любые данные и информация предоставляются 'как есть' исключительно в информационных целях и не предназначены для торговых целей или консультаций.
Прошлые показатели не являются признаком будущих результатов.