The EURUSD D1 chart is showing a possible trend reversal to the long side. We do not have confirmation yet of which way we will be entering, so let’s explain our thoughts and other trader’s thoughts on what will occur.
What Other Traders Are Predicting
Short – Support now resistance on eurusd with multiple rejection as the pair retests. Sell @ 1.10407 tp : 1.08604 sl- 1.10883
Long – Still downtrend on the eurusd which continues from January 2018. All indicators indicate continued declines. ( Ichimoku , Moving average). If you focus on the technical analysis of the Japanese candles you can see in the daily graph that the recent increases came after a hammer candle which usually indicates a trend change and this did not happen throughout the period of declines. Our proximity to the support line strengthens the buying signal. Target: 1.1220
Short – EURUSD should give us a warning signal today what it where it want to go. Acutally , EURUSD is still a really weak pair that it could make a new low in few weeks if it could not break through the channel. Let check it again later to see if there is any entry signal for us.
Long – EURUSD LONG w1 BOOM Here Are My Thoughts!
If price breaks and holds on the D1 timeframe above 1.11000 then we will go long with targets of 1.11660 – 1.13000 If price breaks and holds below 1.19028 then we will go short with targets of 1.08569 – 1.08000
Cheers to another successful week!