EURUSD Trading Opportunities

[bigbax699]

Afternoon all, today i'm including a new pair that I have added to my watchlist. I have taken a buy on EURUSD , if you watch my videos then you will of already seen what I was looking at. Price has broken out of the bottom range and the long standing trend line . Also we can see price has come back and re tested that break, and currently looks to me like its forming a new demand zone . We can see the sellers and buyers in battle as we speak. I have taken the buy on the premises of that impulse. Use risk management if you decide to take the trade as always. Does have the possibility to go alot higher than the supply just above, but will deal with that at the time. Next day or so will tell us if the break is real or not. GLIYF

 

[sebking1986]

DXY appears to be confirming this is the case too. Do you use DXY at all as a confluence for EU trades?

 

[Treacle]

EU has been a bit volatile (relatively speaking) lately. I think the buyers have run out of steam myself

 

[sebking1986]

The spike yesterday caught be right off guard I have to say. Hard to see a reason for it.

 

[bigbax699]

Well after the first visit to EURUSD in a while it looked to possibly be turning in trend, but its clear it was a fake daily breakout and the strong weekly trend has spoken. Still very much bearish on EU as trend shows. Obviously USD is highly manipulated and we will get a reversal in price but the question is when. Doesn't help with EUR being so weak and the correlated opposite to USD.
As you can see it looks entirely possible we could be visiting the 1.10 area before we get any bullish reversal, possibly even lower to 1.08. We could get a sell in when price creates the next lower high, so we will have to watch for that to be formed and ready. Then once we move further down we can look for that longer term bullish move. Patience with this pair for now. mark up your charts and keep your eyes peeled GLIYF

 

[sebking1986]

The Fed being hawkish on rate increases has given USD a huge boost. Still remains to be seen if they follow through and raise them though.

 

[FriendlyFX]

Really like your lower DZ for potential Longs.
EUR weakness too on top of Powells decisions

 

[bigbax699]

Good morning all, reporting on EURUSD this morning as I have taken a sell on the daily candle close. Initially I was expecting more of a drop to the imbalance zone below, and less of a pullback. As we can see price has had a sharp up turn in momentum. But it looks to have tapped into supply and lost its steam. Going with the overall higher TF bearish trend and under the EMA it's a valid sell to take for us. We can get a fairly small SL above the moving average and also have a nice target to aim for with good R:R. If this is a true lower high then we should be good to make the next step down. I will update again in a few days hopefully this time with profits in tow. GLIYF

 

[ForexWarrior2020]

Liking the look of this the low is a perfect target for TP

 

[sebking1986]

Could be bumpy today and actually think the ECB will bump interest rates.