Not understand?better not follow my analyses!doubt clearer first, risks ++
- #1,141,541
- Jun 1, 2018 12:41pm Jun 1, 2018 12:41pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
- #1,141,544
- Jun 2, 2018 12:49pm Jun 2, 2018 12:49pm
- Joined Jan 2017 | Status: Trader | 533 Posts
Humans are naturally hardwired to avoid and detest uncertainty.
- #1,141,545
- Jun 2, 2018 4:25pm Jun 2, 2018 4:25pm
- | Additional Username | Joined Apr 2018 | 71 Posts
forex is better than cryptocurrency, trust me.
- #1,141,546
- Jun 3, 2018 3:45pm Jun 3, 2018 3:45pm
- Joined Dec 2015 | Status: Trader | 8,751 Posts
Here's a top-down technical perspective on the EURUSD.
Price action on the weekly time frame on the EURUSD formed a long-tailed candlestick, hammer-like, around an S/R zone last week. The long tail covers about 158 pips of a 230-pip range candlestick, showing a strong intent of bulls to push price northward. It may be significant to note that the price action printing the hammer-like candlestick last week was around the channel support of an ascending channel (black) which is traceable to January 2017. Very much likely we may see bulls continue the northward push in the days ahead. A look at the candlestick printed in May 2018 showed that there was a bearish rejection; but as we are in the early days of a new month, we may not witness a reversal northward yet. Much likely, we may have a northward pullback to retest a significant support zone recently breached. Such a zone is around the 1.19190/1.19860 area.
On the H4 time frame, price action has been respecting a descending trendine (chocolate) from April 19, 2018 and a descending channel is clearly noticeable. However, recent price action has moved northward to consolidate around the channel resistance, from which a bullish pinbar formed last Friday. This pinbar was formed around a minor S/R zone and may lead to a bullish reaction for a northward move in the days ahead. A significant resistance zone, which may be an initial target of bulls is the 1.17610/1.17680 area, which is close to the monthly pivot. Such a move may extend to the 1.18350 area, around the high of two weeks’ ago. Any southward move is likely to see bears contend with the ascending trendline (magenta) emerging on the H4 time frame. A successful retest and bounce off it by price action is likely to see bulls take price further northward. However, should price action breach the trendline southward on a daily closing basis, we may see bears step in for a southward drive. This may expose the 1.15060 handle.
I may be wrong. Trade safe and prosper.
KP
Price action on the weekly time frame on the EURUSD formed a long-tailed candlestick, hammer-like, around an S/R zone last week. The long tail covers about 158 pips of a 230-pip range candlestick, showing a strong intent of bulls to push price northward. It may be significant to note that the price action printing the hammer-like candlestick last week was around the channel support of an ascending channel (black) which is traceable to January 2017. Very much likely we may see bulls continue the northward push in the days ahead. A look at the candlestick printed in May 2018 showed that there was a bearish rejection; but as we are in the early days of a new month, we may not witness a reversal northward yet. Much likely, we may have a northward pullback to retest a significant support zone recently breached. Such a zone is around the 1.19190/1.19860 area.
On the H4 time frame, price action has been respecting a descending trendine (chocolate) from April 19, 2018 and a descending channel is clearly noticeable. However, recent price action has moved northward to consolidate around the channel resistance, from which a bullish pinbar formed last Friday. This pinbar was formed around a minor S/R zone and may lead to a bullish reaction for a northward move in the days ahead. A significant resistance zone, which may be an initial target of bulls is the 1.17610/1.17680 area, which is close to the monthly pivot. Such a move may extend to the 1.18350 area, around the high of two weeks’ ago. Any southward move is likely to see bears contend with the ascending trendline (magenta) emerging on the H4 time frame. A successful retest and bounce off it by price action is likely to see bulls take price further northward. However, should price action breach the trendline southward on a daily closing basis, we may see bears step in for a southward drive. This may expose the 1.15060 handle.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #1,141,549
- Jun 3, 2018 10:25pm Jun 3, 2018 10:25pm
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #1,141,552
- Jun 4, 2018 2:34am Jun 4, 2018 2:34am
- Joined Dec 2017 | Status: Trader | 30,688 Posts
yes yes yes
- #1,141,553
- Jun 4, 2018 2:49am Jun 4, 2018 2:49am
- Joined Sep 2015 | Status: Trader | 820 Posts
USD index was softer overnight to the benefit of its major counterparts across the pond with EUR/USD taking advantage of the USD index retreat towards the 94.00 level.
Option expiries of note for today's 15:00 BST:
EUR/USD:
1.1600 (1.4 BLN), 1.1650 (0.389 BLN), 1.1685 (0.531 BLN), 1.1700 (0.668 BLN) and 1.1775 (0.890 BLN).
Continues to look good, waiting for my 1st target @ 1.1828 and a 2nd target @ 1.2000.
Option expiries of note for today's 15:00 BST:
EUR/USD:
1.1600 (1.4 BLN), 1.1650 (0.389 BLN), 1.1685 (0.531 BLN), 1.1700 (0.668 BLN) and 1.1775 (0.890 BLN).Continues to look good, waiting for my 1st target @ 1.1828 and a 2nd target @ 1.2000.
- #1,141,556
- Jun 4, 2018 6:12am Jun 4, 2018 6:12am
- Joined Jan 2017 | Status: Trader | 533 Posts
Humans are naturally hardwired to avoid and detest uncertainty.
- #1,141,557
- Jun 4, 2018 7:49am Jun 4, 2018 7:49am
- | Joined Apr 2018 | Status: Trader | 101 Posts
Bullish until 1.16171 is broken but there will be some corrections here and there. This is a potential retracement. <1.16171 will be an achievement for the bears
- #1,141,558
- Jun 4, 2018 8:08am Jun 4, 2018 8:08am
- Joined Apr 2017 | Status: trying to make money | 3,341 Posts
Don't Worry Be Happy
