EURUSD setup.

stephane

Private, 1st Class
Messages
114
Buy on retest of 1,1360. On H4 we are going up, and that level is a 50 fib retracement line and a former resistance.

EU_H4.png
 

stephane

Private, 1st Class
Messages
114
Update October 15th.
On the weekly chart the pair is retesting a bullish triangle resistance around 1,145. The SMA55, that resisted last time EU tried to go up, is also at that level.
A bullish break out of 1,15 on (H4 candle closing) would be a sign the pair will probably go further up (up to 1,20 ?).
A rejection of that resistance would probably mean a pull back on the 1,115 support.

EUW.png
 

stephane

Private, 1st Class
Messages
114
Update October 15th.
On the weekly chart the pair is retesting a bullish triangle resistance around 1,145. The SMA55, that resisted last time EU tried to go up, is also at that level.
A bullish break out of 1,15 on (H4 candle closing) would be a sign the pair will probably go further up (up to 1,20 ?).
A rejection of that resistance would probably mean a pull back on the 1,115 support.

View attachment 21552
The resistance was rejected with a small gravestone doji, meaning more an indecision than a reversal. As the pair has been slowly drifting up since March, I would rather buy a signal above 1,115 than sell it.

EURUSD_W.png
 
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