Eagles Trading Journal

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I trade forex mainly through technical analysis, so stay tuned for some gems.

 

The EUR/USD looks severely oversold. I think there'll be some kind of correction before another down- leg.

 

Looks like price is heading down towards the 1.3160 level again, with a likely breakthough.

 

Price has now broken through down the 1.3160 level. I am expecting price to retrace back up towards the 1.3160 level to retest this, with a rejection and a subsequent test of 1.30

 

EUR/USD is heading down towards the 1.31 level. It looks very bearish at the moment but the stochastics are telling us it is very oversold. Expect bearish price action but be aware that there could be a fast and sudden retracement, especially off the 1.30 level.

 

I'm bullish EUR/USD at the moment. After that pinbar it just looks bullish. Pink area is on chart is target.

 

I'm decidely bullish on the EUR/USD long term. I know all the focus is on Brussels and the new government in spain, but long term, it just isn't looking great for the USA. It's been said today that even more money QE3 could be printed in April!! This infographic says it all really, the U.S. is in deeper than they can get out (ZeroHedge, Forex). It's funny, I read an article today that highschool students in the USA are being taught about the US debt: Look what their parents have left them with...

The chart below is clear bullish bounce off the 1.31 support.

 

It looks like the EUR/USD has stalled at the fibo 38.2%. Looks like a new test of the lows is on the cards. I'm expecting this to break down into the 1.29's

 

I'm short EUR/USD with a testing of the 1.3185 support. That will be my take profit.

 

I actually can't believe it. The 1.20 floor has been tested on the EURCHF. A retest of 1.20 on the books maybe?

 

1.3150 seems to be the resistence level which needs to be broken in the EUR/USD. Until that level is broken and closed above on the daily, I'm still bearish with an expected retest of 1.30.

What do you think?

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