Last week I made an analysis based on EURUSD's multi-year historic patterns with regards to Fed Rate Hikes:
This 30year long historic sample made a case why the pair turned into a long-term buy as it came near a trend-line that was previously a Resistance since July 2008. Eventually the price is rebounding so far on this trend-line, potentially turning it into a Support.
That was on the 1W time-frame, so let us get back to our usual 1D chart analysis. As you see on the current chart, the most dominant pattern since December 01 2021 on EURUSD has been a Megaphone. On Friday the price found support and made a bottom on its Lower Lows trend-line and is so far posting a strong 2 day rebound. The 1D MA50 (blue trend-line) is the first Resistance. A break above it makes the pair for me an immediate buy signal for a 1D MA100 (green trend-line) target. A break below Friday's low is a sell signal towards 1.09625 (2.5 Fibonacci extension).
Another trend-line that is critical in my opinion is one I've first mentioned 2 months ago, the Internal Pivot trend-line since May 05 2021. As long as the price trades above it, the probabilities for a Higher High above the 1.14820 Resistance are stronger. The price has traded below it last Thursday, Friday, Monday and before that for roughly a month in mid-November to mid-December. Keep an eye on that, it is an important pivot ahead of critical macro-economic announcements this week such as Wednesday's E.U. CPI, Thursday's ECB Rate Decision and Friday's U.S. Nonfarm Payrolls.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
This 30year long historic sample made a case why the pair turned into a long-term buy as it came near a trend-line that was previously a Resistance since July 2008. Eventually the price is rebounding so far on this trend-line, potentially turning it into a Support.
That was on the 1W time-frame, so let us get back to our usual 1D chart analysis. As you see on the current chart, the most dominant pattern since December 01 2021 on EURUSD has been a Megaphone. On Friday the price found support and made a bottom on its Lower Lows trend-line and is so far posting a strong 2 day rebound. The 1D MA50 (blue trend-line) is the first Resistance. A break above it makes the pair for me an immediate buy signal for a 1D MA100 (green trend-line) target. A break below Friday's low is a sell signal towards 1.09625 (2.5 Fibonacci extension).
Another trend-line that is critical in my opinion is one I've first mentioned 2 months ago, the Internal Pivot trend-line since May 05 2021. As long as the price trades above it, the probabilities for a Higher High above the 1.14820 Resistance are stronger. The price has traded below it last Thursday, Friday, Monday and before that for roughly a month in mid-November to mid-December. Keep an eye on that, it is an important pivot ahead of critical macro-economic announcements this week such as Wednesday's E.U. CPI, Thursday's ECB Rate Decision and Friday's U.S. Nonfarm Payrolls.
--------------------------------------------------------------------------------------------------------
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.