Forex EUR/USD Daily, April 29, 2020

[Sive Morten]

Good morning,

EUR is flirting with 1.09 major resistance level but situation needs more clarity as some tricky moments appeared:

 

[olaaka carlos]

Sive, as good as always cheers sir. I am always obliged to follow your insights.

 

[Zulbahri_GB]

This is my take:

• Long positions above support line of Fibonacci retracement of 23.60% (1.0849) with targets at 1.0887.
• Alternatively: Stop-loss at 1.0819.

Commentary/ Reason:

• Price supporting at 1.0825 level. As long as the support line 1.0825 is not surpassed, the risk of the break below remains low.
• Bullish prevails as long as 1.0825 is support.
• Stochastic and MACD indicators is mixed to bullish.
• The pair is trading above both its 200 and 50 Moving Averages.

 

[IanN]

View attachment 53210

This is my take:

• Long positions above support line of Fibonacci retracement of 23.60% (1.0849) with targets at 1.0887.
• Alternatively: Stop-loss at 1.0819.

Commentary/ Reason:

• Price supporting at 1.0825 level. As long as the support line 1.0825 is not surpassed, the risk of the break below remains low.
• Bullish prevails as long as 1.0825 is support.
• Stochastic and MACD indicators is mixed to bullish.
• The pair is trading above both its 200 and 50 Moving Averages.

Sorry but this has nothing to do with the Method that we use here and can be seen as oracle ...

Here we use DiNapoli Methods and only 38 and 61 retracements are used and only 61 100 and 161 extensions ...

Stochastic and MACD are used total different as you show here, too.

 

[Sive Morten]

Sorry but this has nothing to do with the Method that we use here and can be seen as oracle ...

Here we use DiNapoli Methods and only 38 and 61 retracements are used and only 61 100 and 161 extensions ...

Stochastic and MACD are used total different as you show here, too.

Yeah, mate. Zulbahri uses a bit different way of analysis. Still, his method is classic one and he provides reasons why he things so. This is good when people make their own analysis and share it. We use DiNapoli, but a lot of our forumers use additionally other methods - EW, DeMark, and classic as well.