The euro is trading sideways after the previous strong impulse.
On Monday, buyers resumed the uptrend which they started last Thursday, but then they got stuck. I think the reason is that 1.1250-1.1280 is a strong resistance.
So, guys, Iím not going to break my head, so I will follow a simple plan: selling from the upside, buying from the downside, and using small stops.
The triangle got broken, so the pair is just trading flat now.
I closed my short positions with a minor profit, they didnít work the way I planned.
Currently, Iím considering long positions from the lower boundary of the present range with a small stop right under it. In any case, we need the pair to leave this range, this breakout will set a trend for the next several days or even weeks. Then, we will be able to gain nice profits.
There are several possible scenarios. However, I expect the pair to drop to 1.1140-1.1130 and then rise again. It may happen in case buyers stay strong.
According to the CME data, open interest keeps on declining. It got reduced by over 30K in a range of 60-70 pips. However, itís hard to say who closes positions amid this flat movement.
I think itís buyers who close their deals as traders have been mostly selling in the last two days, according to the delta.
Maybe Iím wrong though, just thinking.
Anyways, this downtrend has disappointed me. So, now I will work in both directions before the clear trend appears. Thus, I placed a buy limit order at 1.1184 with a 24-pip stop (just in case).
If the pair goes to the downside, I will act according to the situation. If itís possible, I will sell. Otherwise, I will just monitor.
Hi everyone! Yesterday EUR/USD was trading flat for the whole day. The flat market killed all stop orders. I guess that most guys donít think back to what happened yesterday. Theyíre right. Today contracts with one-month term are due to expire.
The price is now in the vicinity of the pain area. It means that it is illogical to retreat far from this area before expiration.
Besides, it makes sense to bear in mind volatility. Just a remark for those who are unaware: option traders set prices for option contracts themselves. So, future volatility can be assessed in advance following a special formula. If the price moves downwards, volatility will increase notably. Alternatively, if the price goes upwards, it will hardly cause robust price action. To be more exact, the climb is going to halt soon. In other words, if the price moves downwards, it doesnít make sense to catch pullbacks. If the price climbs, it would be a good idea to catch a nice bounce.
In case of the uptrend, we still expect a break level of 1.1280. I think Iíll grasp the opportunity to earn some money on rallies provided that the price goes upwards. Alternatively, if the price drops, we should respond to any move.
As for futures contracts, it is rather difficult to predict anything. Yesterday, a trade volume increased in response to news. Since early morning today, futures contracts are trading quietly without a clear direction. Thus, I guess it would be good to wait until the market gets in motion. Here are my ideas for today. Good luck and fat profits to everyone!
If the bears surrender this area, it may not be good for them.
Look at your chart to show what could happen if the bears give this area away.
Iíll run ahead and expect another growth to 1.1350, so Iím leading the euro into another wave of growth to this level.
And now according to your screen.
There is a potential neck line for the inverted head and shoulders figure, if the price continues to rise to 1.1250, the entire figure will be formed and it remains only to break through the neck line. Having broken the neck line, the price rush to the growth working out the figure. Its maximum potential will be 1.1390, minimum growth can be expected to 1.1350. I will look at a minimum and wait for the euro to rise to 1.1350, I hope that the figure will complete its formation.
EUR / USD cannot break out of the range of 1.1160-1.1240. I will monitor the price near the resistance of 1.1240. Everything will be decided there. After the breakthrough of resistance, we should expect a pullback to 1.1240 and buy.
Hereís the chart for the euro/dollar currency pair:
During the night before, the EUR/USD currency pair attempt to increase; however, it did not become successful since it made a reversal and started to decline. The bear wolfe has somewhat reformed in another way, as the price managed to remain in the 3rd Wolfe wave. At present, the minimum target is located at the level of 1.1293, while for the maximum target, the level of 1.1357 is considered given that we enter the ďsweet zoneĒ. Now, the overall development of the pair is expected. However, as observed in the four-hour char, the MACD displays a downward movement, while the stochastic has reverse and is also demonstrating a decline. The intraday indicators, on the other hand, does not support the development of the pair. Another trend line is built (blue line on the chart). Therefore, a reversal and a development from the euro/dollar pair is anticipated, but if the price breaks it down, then the development of the pair will be doubtful.
Hello, dear traders.
The previous day showed no particular change. H1 and H4 remained in the ďbuyĒ area, while H4 and H1 remained in the ďsellĒ area. As long as the situation does not change, the buyers have the advantage according to the technical analysis. I guess so, since H4 has not completed its upward cycle yet and H1 creates an obstacle to it. Given that there is no full-fledged downward pullback, we can expect that we will remove the pullback with a flat. In this situation, the rebounding level which is now at 1.1130 is likely to rise higher, where we will meet it and then go up as shown on the chart. We often do it when a strong flat begins.
Technical analysis on M15 and M30.
It can be said that M15 is out of order. There is now no specifics as for this timeframe. At the same time, M30 keeps an uptrend. Yesterday's upward movement completed the upward cycle on M30. The fact that M30 failed to break through towards the upside is good for the bears. If it takes a long time and it does not continue the uptrend, we can safely assume that it will break. The first level where M30 is likely to be broken is 1.1190. In order to strengthen the downtrend, we need to stay below 1.1240. This level can drive the price up to 1.1320 if we break through. So far, I do not expect a deep downward trend. I believe that the most we may reach is the level of 1.1130. This is a dynamic level and it depends on the movement. Then I expect another upward movement from 1.1130.
Intraday levels for today.
The upper level is 1.1229.
The lower level is 1.1161.
Yesterday, there were extensions. After breaking through these levels, they usually indicate the direction. However, with such a flat, I donít even know what to say. Everything depends on intraday trading and what the levels will show. For now, they indicate a downtrend.
I expect a pullback to 1.1130. If there is a breakout of 1.1229, the downward trend will be cancelled.
My dear honourable member of this great platform I am entirely agree with your thoughts that almost from now a day back eurusd is moving in between 1.1230 to 1.1190 and tren is not clear on which side the move will be start but as peer news the it will break the resistance level but but when no idea hopefully according to my sixth sense it will go up and will break the level of 1.1230 in this week .so that care in trading is necessary and must be applied small lot for safe trading.
Todays is very good day for me i open trades on EURUSD for long term of buy in previous week. Now i am very happy to see bule baar at Mt4 which increased my blood in my body. Today we see a very great bullish break movement of EURUSD and this is the sign of USD becoming weak and strength of EUR. I hope it will continue this movement and this is very good move for buyers.
Hope you best profitable week by trading in EURUSD and at this position do not put sell. Wait for next support of EURUSD that might be a level at 1.1270.
Hello, dear speculators.
The single currency is good at getting on our nerves. The previous day is proof of that.
Traders broke through the level of 1.1167 and then went up.
Things did not go as I planned, but nevertheless we will catch the euro-dollar pair further. Today, I want to do an experiment.
Despite the fact that I am waiting for another upward movement to the area of 1.2900, I will try to sell today.
I see that the uptrend is very tightly held. Apparently, the core of the contract is strong and the pair still cannot break through it higher.
We cannot break through 1.1230-1.1250, so we will try to open short deals here.
But the experiment is to sell either from the border or after hitting a new high.
The option with purchases from the lower border of the channel is not so good for me, since the stop can be removed again and this will all be over.
In such a case, I will open long deals no matter what.
In general, the point is that I will hardly work from the borders today, but I will work after hitting a new high or low.
However, if the price breaks through the border and passes more than 15-20 points on H1 and the candle closes below the border, I will not enter.
In this case, a true breakdown of the border is quite possible, then I will work based on the breakout.
The futures chart shows that the cumulative delta has been negative for several days.
The majority are actively opening short deals.
But they do not allow the price to go very far. Perhaps, the option with the removal of extra traders will work out.
If we consider buy deals within the day, the fixation area should be not higher than 1.1230.
As for intraday sales, they are risky, but nevertheless, if we go to the upper border to about 1.1230, I will consider short deals.
Yesterday, according to the levels, we confirmed the downtrend, went up, and then confirmed the uptrend.
Today, I am planning to enter either from the very borders of the channel, or after hitting a new high or low in the opposite direction.
It all depends on where we will go first and the way we will break through the borders of the flat.
On the chart, the price is drawing a picture which is not entirely clear. The borders are blurred, while the volumes are also unclear...
There is nothing I can do, since I consider this movement as a correction to the rising wave.
In any case, I want to buy and see the growth to be completed, but so far it is impossible to be done.
Forex Forum mt5.com – Introduction.
Forex market is high-yield and risky
mean of taking profit by operations with the currency rates. Instruments
of work at Forex market in many ways determine the result of currency
trading made by Forex market participants – brokersí clients. Every
Forex broker offers its own terminal, however the most part of brokers
and traders concur in choosing MetaTrader 4 and MetaTrader 5 terminals.
This forum is created for those who prefer the terminal of MetaTrader
series in trading on Forex.
Forex Forum mt5.com – trade discussion.
Forex market forecasts, independent
opinions of novice traders and experts of the currency market – all
this you will find at the Forex-forum of trades discussion. Solid experience
of work on Forex is preferable, but all comers including Forex-newbies
may come and share their opinion as well. Mutual help and dialog –
the main goal of communication at Forex-forum, devoted to trading.
Forex Forum mt5.com – dialog with
brokers and traders (about brokers).
If you have negative or positive experience
of work with Forex broker – share it at Forex Forum, related to the
questions of Forex service quality. You can leave a comment about your
broker telling about advantages or drawbacks of work at Forex with it.
The aggregate tradersí reviews of brokers constitute a rating. In
this rating you can see the leaders and outsiders of the Forex services
Free discussions at the Forex Forum
You are a trader and want to relax?
Then Forex Forum for free discussions is for you. There are no doubts
that conversation on subjects close to Forex market is preferential.
Here you will find jokes about traders, caricature of Forex brokers
and full-rate Forex off top.
Bonuses for communication at Forex
This forum is created by traders for
traders and is meant for deriving of profit. However, each post at the
Forex forum gives its author a forex bonus, which can be used in Forex trading
at the account opened with one of the forumís sponsors. This small
gift is presented with the aim to reward professional traders for spent
time at our forum.
We appreciate your choice of Forex
forum mt5.com as a platform for communication.