EURUSD Technical Analysis 14.04 - 21.04 : Rally on Bearish Trend

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Last week the EURUSD broke through resistance at 1.3036 and stopped below 1.3126 and below the Ichimoku cloud. The market condition of this pair can be described as a rally: a secondary trend on the back of a primary bearish trend.

The Tenkan line has crossed the Kijun line on the open D1 bar, which indicates a possible continuation of the rally, but the Chinkou Span line is close to the historical price, which indicates a possible correction inside the secondary rally. Thus, I expect EURUSD to fluctuate between 1.2900 and 1.3308

  • Recommendation for long: Watch for the price to cross the resistance level of 1.3138 with a profit level of 1.3230 and stop loss level of 1.2900
  • Recommendation for short: At the breach of the support level 1.3036 - profit level of 1.2940 and stop loss 1.3230
  • Trading Summary: Risky

UPCOMING EVENTS

2013-04-15 02:00 GMT [CNY -Gross Domestic Product]

2013-04-16 09:00 GMT | [EUR -German ZEW Indicator of Economic Sentiment]

2013-04-16 12:30 GMT | [USD -Consumer Price Index]

2013-04-16 13:00 GMT | [EUR - ECB President Draghi Speaks]

2013-04-19 06:00 GMT | [EUR -German Producer Price Index]

ResitanceSupport
1.31261.3090
1.31381.3036
1.32301.2940
1.33081.2900

SUMMARY: Bear market

TREND: Rally on a bearish trend

IntraDay Analysis

The EURUSD is between 1.3036 and 1.3138. If the price breaks through these levels, it may be possible to enter long or short. Conclusiong: Risky.

 
newdigital: If the price breaks through these levels, you can go long or short. Conclusiong: Risky.
TradungPick. So is it"safe to go long or short", or"risky"?
 

I first did a branch in English in the English part of the forum, and then translated it into Russian. As for the intraday, I was looking at H4, so the intraday is only for Monday. But I would not trade this pair on Monday (it is risky - at least for me): Here we have a market condition (buy and sell simultaneously by AbsoluteStrength indicator on H4). Maybe, by Monday night something will change - but here we have to look at the breakdown of those levels, which I have indicated.

 
newdigital:  I first did a branch in English in the English part of the forum, and then translated it into Russian. As for the intraday, I was looking at H4, so the intraday is only for Monday. But I would not trade this pair on Monday (it is risky - at least for me): Here we have a market condition (buy and sell simultaneously by AbsoluteStrength indicator on H4). May be something will change by Monday evening - but here we have to look at the breakdown of those levels, which I have indicated.
I take it that by multiplying the threads you are not going to answer for your trading forecasts on the Russian-speaking part of the forum?
 
Yedelkin:
I take it that by multiplying the threads, you are not going to answer for your TradungPicker forecasts in the Russian-speaking part of the forum?
I do not understand the irony ... Where are we talking now? :) In the Russian-speaking part of the forum. I mean, how do you answer? It's a technical analysis, and it's always "if ... - if it's buy, if it's... - then it's a sell. Especially in intraday trading.
 
Yedelkin:
I take it that by multiplying the threads you are not going to answer for your trading forecasts in the Russian-speaking part of the forum?
You'd better give your estimation of where EURUSD will go next week.
 
newdigital:
This is technical analysis, and there is always the principle of "if ... - then buy, if ... - then sell.". Especially in intraday trading.

But you're contradicting yourself by saying...

"can go long or short. Conclusiong: risky."

in other words - you don't know yourself. and in terms of concepts - the usual lies.

try to stick to more accurate words. without contradiction.

 
newdigital: I don't understand the irony ... Where are we talking now? :) Just in the Russian-speaking part. I mean, how do you answer? It's a technical analysis, and it's always "if ... - if it's buy, if it's... - then it's a sell. Especially in intraday trading.
This is not irony. This is a statement of fact, that you personally in the Russian version of the forum cannot answer a simple question:"TradungPick. So "can I go long or short", or "risky"? "The price of your TradungAnalysis, if the absence of an answer to a straightforward question is compensated by the position"there is always a principle of "if..., then buy ...- "if ... then buy, if ...-then sell". Who needs your conclusions, if they are all conditioned by a bunch of other reasons like "if ... if", "it's tehanalysis" or it's "intraday trading".
 
newdigital: You would better give your estimation where EURUSD will go next week.

Personally, I don't give a damn about your analysis, your trading forecasts and "where the EURUSD is going next week". If you want to make predictions, make accurate predictions. And everyone else will look at the predictive accuracy (or whatever it is called) of your posts at the end of each week. Sorry for the possible vulgarity of your comments, it's nothing personal.

PS. But no. I can give my estimation of the situation in the spirit of this branch: "Guys! Buy EURUSD. But if you do not know, sell.

 

Is this the kind of thread that's going to appear in General Discussion every week now? 0_o

"There's a Kalabukh house missing" (c)

 
sergeev:

but thus you contradict yourself by saying

"can go long or short. Conclusiong: risky."

in other words - you don't know yourself. and in terms of concepts - the usual lies.

try to stick to more accurate words. without contradicting.

I wrote it correctly. To me a non-risky sell is when the price is below the Ichimoku cloud and the Chinkou Span line crosses the price from top to bottom on a closed bar. Everything else on Ichimoku is risky for me. Although I trade in those cases too.
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