26 Aug 2019

EUR/USD Forex Analysis and Forex Signal

by kyza | posted in: Market Commentary, slick trade, slicktrade, SlickTrade Online Trading Academy | 0

Price has reached the demand zone for the EURUSD D1 chart.

EURUSD turned out as expected based on last week forecast.
The price broke out of consolidation and reach an important demand zone which it found support.
Although the rebound last Friday from the demand zone around 1.107 was significant, the price did not break new high and thus may fall deeper into the demand zone .
This week, we will continue to wait for more pullback and aim to buy at 1.05.

What Other Traders Are Predicting

1 HOUR Very strong bullish reaction on friday. 4 HOUR Bearish waving market with several pullbacks to the upside. DAILY Price overbought right now, good short entries and risk reward. OVERALL Waiting for a last push to the upside taking out several short holders with stops above previous week/consolidation zone highs and expecting prices to push back to the downside afterwards. I will update you about everything, be patient 🙂 Good luck

And here is the pullback!

Here Are My Thoughts!

Going long on the D1 timeframe with a target range of 1.12636 – 1.15483
If price breaks below 1.10500 and holds then we will go short for trend continuation

Cheers to another successful week!