EURUSD has turned bearish. Today we have two possible scenarios:
1) It pulls back and goes to retest it's resistance
2) It goes down, pulls back to current level and then goes down to test it's support
Scenario 2 looks more likely, see what happens in London session and enter in NY session with tight stop loss
US ISM comes out today, and it looks bearish, which...
Looks like it'll keep going down for at least this week
Non TA
Eurozone has seen a moderate growth, but not nearly as large as the US. ECB probably will keep it's inflation rate until late 2019, while Fed plans to raise it around June
US Core Personal Consumption Expenditure is about to be released, and it's expected to be bullish
Overall, the dollar is backed up...
Looks like it's getting ready to fall. ECB meeting is coming up and by the looks of it they'll keep the current inflation rate.
RSI oversold - downtrend
Rejecting trendline
Near weekly and daily pivots
There's still some bullish divergence, so it might go test 1.2119 again before dropping
Or it might get stuck around daily pivot 1.2118
Entering after ECB works...
USDJPY looks overbought. PMI as well as CFNAI is about to release, both look bearish. We should expect a drop to the bottom of the channel.
Near last week R1, daily R1
RSI 1H, 4H overbought
CFNAI looks bearish
Entry around 107.9
PT 106.63, 107.500
As a reminder, BoJ Interest Rate comes out this thursday. I expect it to be bullish, which will sink USDJPY. Of...
Looks like a good time to go long.
Near daily pivot.
Near weekly pivot.
RSI 4H shows slightly overbought, which means we're in an uptrend.
Bank of Canada CPI MoM looks bearish (prev 0.7, forecast 0.2)
CPI YoY looks bullish though (prev 2.2, forecast 2.4)
We should wait for a confirmation.
Entry around 1.265
But we're still on time to short it.
Near S1 (support turned resistance)
Healthy downtrend
EUR Consumer confidence is about to drop (prev 0.1, forecast -0.2)
On 127.2 Fib extension
Entry around 1.231
Target 1.226
SL 1.2326
We're going up for the next week.
Beautiful Crab at 1.40 - 161.8 Fib extension
Daily Woodie S2 at 1.40, previous daily S3 at 1.40
Weekly Woodie S2 at 1.40
RSI 4H, 1H approaching critically oversold.
1.40 is a strong psychological level.
Bullish divergence
There are no current week or last week pivots that would stop the fall to 1.40
Entry at 1.401
PT 1.413,...
Looks like we have finally entered a downtrend. Some sort of pullback is expected. 1.2356 looks like a good spot to enter for the following reasons:
Woodie daily pivot
61.8 Fib retracement
RSI 4H indicates downtrend
Consumer confidence looks bearish (prev 0.1, forecast -0.2)
There's a chance the downtrend is too strong and won't be able to pull back past...
We're in a nice spot to enter the uptrend.
On daily Woodie
Near weekly Woodie
78.6 Fib retracement
RSI 4H indicates an uptrend
About to be fueled by a bearish JPY CPI (prev 1.5, forecast 1.1)
Entry at 1.38
SL at 107.2, in case we visit 107.3 again
PT 107.5, 107.7
Still testing my indicator/strategy
Nice uptrend
Near daily pivot
Recovering from a rebound (went up too fast, was pulled back, getting ready to go up again)
.886 Fib retracement
Enter aound 1.56
PT 1.57
SL around 1.559
R:R 1:4
Just for myself. Still testing out what works and what doesn't
Feedback is always appreciated
Short at 1.242
PT 1.233, 1.226
Gartley completes at .786 - BC projection leg is a bit too short but it should be valid (1.23, min 1.27)
Strong resistance - trendline
Woodie daily pivot R1, near last week R2. Lots of weekly Woodie resistances around that area
RSI 1H, 4H...
Just for myself.
.886 Fib Retracement at 1.2375
Daily Woodie R2 at 1.2367, R3 at 1.2389 (price very rarely goes to daily R3)
Trendline from previous significant highs matches
RSI 30m approaching overbought. RSI 1H past slightly overbought
US Retail Sales MM coming up really soon (positive forecast)
Entry 1.237
Stop Loss 1.2389
Profit 1.2257 (watch price action...
Hello everyone! This is my first time sharing an idea, so I'd love to hear some feedback.
As we can see, EURUSD has formed an Alt. Bat pattern and is about to touch a critical resistance, as well as 2 SMA (2 monthly, 3 monthly). There's bearish divergence as well. All seems to indicate that it will go down. Or at least that's what I think. We could also wait for...
