3 Dec 2019

EUR/USD Forex Analysis and Forex Signal

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We received a long alert from our Harmonic Scanner yesterday, for the EUR/USD on the D1 timeframe. We are seeing a potential double bottom price action setup on the currency pair as well. The harmonic scanner has a 94% win rate for this currency pair.

What Other Traders Are Predicting

After waking up to about 30 requests for the Euro , here’s the TA. We started the week neutral with the bias set because of the amount of confulneces on each side. Fundamentals sinc ethe markets opened have shown a bullish bush from that price, however the market still is yet to remain to display apparent and straight forward price action. Trading the Euro right now is tuff until we can get a lower price for an entry.
The recent USD breakdown could cause the price of the EURUSD to continue to the key
1.1200 resistance. We spoke recently of a long opportunity from the 1.1100 area in line
with our simple forex strategy. Now price is back at the resistance we need to wait for a
confirmed break above before looking for short-term long opportunities.
The EURUSD should push hight. Targets 1.1090 and 1.1170. Good luck

Here Are My Thoughts!

  1. On the D1 timeframe, we received a long alert from our harmonic pattern EA
  2. A double bottom price action trade setup
  3. If price breaks above the 200 SMA, we will experience a long continuation, trail stop for maximum profit
  4. Our harmonic pattern EA has a 94% win rate on this currency pair

Our long target levels are 1.11259 – 1.11629

Cheers to another successful week!

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