EURUSD - Trends, Forecasts and Implications (Part 1) - page 737
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
will show us a small global upward movement.
So small or global?) I'll just sit on the fence for now until 'enlightenment'.
So small or global?) I'll just sit on the fence for now until the "enlightenment".
The difference between a global movement and a small one is due to the formation of divergence on different TFs: in the first case on H4 in the second case on H1 or M30.
On the pound at 1.6385 we can go back into the sell... To 1.6285
Well, the signal worked clearly. Already at breakeven :) But I feel that it may not reach 1.6285...
Well, the signal worked clearly. Already at breakeven :) But I have a feeling that 1.6285 might not make it...
Why not? The pound has an excellent bearish signal. If it doesn't get there today, it will get there this week and it will go even lower than 1.6250.
I am not ready for weekly TF's yet. )))))) There is nothing to do there :)) On M5-M30 we can take all trades :)
7 December. /Dow Jones/. The euro/U.S. dollar pair continues its decline from a Dec. 3 high of 1.5142 to leave the 2009 high of 1.5145 intact. A break of 1.4821 on Monday led to further declines in the pair to make a break below the 10-month rising support line. That said, while the lower high of 1.4906 holds, the pair has the potential for further declines - towards the higher low of 1.4626 on November 3. The pair may be forming the top of a head-and-shoulders pattern. That said, the triple bearish divergence from September 23 on the daily chart indicates an attempt by the pair to form an important top. Trading above 1.4831 will make the pair feel better, although only trading above 1.4906 will improve the pair's prospects and open the way to the pivot level of 1.5000. At the time of writing, the EUR/USD was trading at 1.4785.
-Author Francis Bray, Dow Jones chief technical analyst for Europe;
7 December. /Dow Jones/. The British pound/U.S. dollar pair continues to decline after breaking below 1.6425 on Monday, negating thoughts of a possible inverted head-and-shoulders pattern high on the daily chart. A fall below 1.6318 would again target the pair to the November 27 low of 1.6272. If this area is broken, it will open the way for the pair to decline in the medium term and create an opportunity to reach 1.6116. A rise above 1.6384 would provide temporary relief, although strong resistance looms at 1.6529, blocking the way to the lower high of 1.6674. The pound/dollar pair is now trading at 1.6340.
-Author Francis Bray, Dow Jones chief technical analyst for Europe;