EURUSD Bullish set-upLast time I showed why EURUSD was bullish both on the 1D time-frame (targets were 1.1900 and 1.2000) but perhaps more importantly on the 1W time-frame where the post March 2020 price action resembles that of the 2017 rise:
Right now I focus on the 4H chart, where despite of the wider (rough) Ascending Triangle and its dominant Higher Highs trend-line, we have a Channel Up. With the 4H MA50 supporting since November 04, we have a buy entry, but the most interesting feature is the fact that if the price tops where it did today (the Higher Highs trend-line), then the current sequence may repeat the November 09 pull-back to the 4H MA50 and the 0.50 Fibonacci retracement level.
This suggests that EURUSD isn't bullish just on the long-term but on the medium-term also with a 1.2200 Target.
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Usdsignals
EURUSD short/long-term. A break above 1.2010 can deliver 1.2400.This is a cross time-frame study of EURUSD. Last time I talked about the importance of the 1 month profit taking zone of 1.1900 - 1.19200 and we've seen so far the selling accumulation of this level as it has been holding as Resistance for almost 2 months.
Th bright side on the short-term (1D chart on the left) is that the 1D MA50 is holding and as long as it does, the probabilities of breaking above 1.19200 and 1.2011 in succession are accelerating. Basically it has the role of the pivot. Below 1.17430 sellers can push it back to the 1.1610 Support.
On the longer-term though (1W chart on the right), the picture is clearly more bullish and is replicating the final stage of the 2017-Jan 2018 parabola. On that pattern when the (dashed) Lower Highs trend-line broke (orange circle), 1.2500 was reached. That sequence and the current parabola are fairly symmetrical, so if the Lower Highs trend-line (and 1.2011 Resistance) breaks, I expect a peak around 1.2400. The MACD is also similar.
Do you think EURUSD can go that high on the long-term?
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EURUSD Buy set-up (medium-term)Pattern: Potential Ascending Triangle (Higher Highs on flat Support).
Signal: Buy as the price rebounded exactly on the 4H Golden Cross with the MA50 so far supporting. The MACD is also on a Bullish Cross.
Target: 1.1900 (if the 1.18420 Resistance breaks) and 1.2000 (if the 1.1920 Resistance breaks).
Recent EURUSD idea:
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U.S. DOLLAR INDEX Is it about to crack below 90.00?Scary as it may seem, the price action on the recent consolidation, along with the MACD, have formed on the 4H chart a pattern much similar with the April-May sequence that led to the collapse of June and July. The first low before the recent Bottom was made on the 2.618 Fibonacci extension, as seen on the chart. If we apply the same parameters, we get 89.500 as the next target.
Are you betting on a USD sharp sell-off after the U.S. elections?
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EURUSD Clash between the 1D and 4H time-framesEURUSD is trading within a long-term Channel Down on the 1D chart (left) that made yesterday a Lower High and a Channel Up on the 4H chart (right) which has just crossed its Higher Low trend-line.
It is hard to know which of the two pattern will prevail (i.e. the 1D Channel Down with its Lower High rejection will break the Channel Up downwards, or the 4H Channel Up will rebound and break above the Lower High trend-line of the Channel Up), but most likely whichever breaks first, that might be the next long-term trend.
A few pointers to keep in mind:
* The 1D MA50 (blue trend-line on the left) has been crossed two sessions ago, but not convincingly so far and it is applying selling pressure (Resistance).
* 1D Bullish Cross on the MACD (left). Very powerful indicator, last time that took place on July 13 and EURUSD then rose by more than 6%.
* Emerging Golden Cross on 4H (right) but last time (September 15-21) was invalidated.
* 4H Bearish Cross on the MACD (right). Excluding the Channel Up, on the Channel Down it marked every drop after a Lower High.
Which direction do you think EURUSD will break to?
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Us dollar Massive fall aheadThe Us dollar index shows all possibility for a fall in price at it is currently around our confirmation region for a sell.
We expect a breakout of this level to pave way to more down side.
Target and invalidation level is as shown on the chart.
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EURUSD Trading PlanPattern: Channel Down on 4H.
Signal: Sell either on the key trend-line (dashed) or on the Lower High trend-line of the Channel Down.
Target: 1.16250 (Lower Low).
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EURUSD Trading PlanPattern: Head and Shoulders on 4H.
Signal: (A) Bullish as long as the price trades above the 4H MA50, (B) Bearish if it breaks below.
Target: (A) 1.1950 (right below the neckline of the H&S), (B) 1.1770 (right above the Support).
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EURUSD Buy SignalPattern: Channel Up on 4H.
Signal: Buy as long as the Higher Low trend-line holds.
Target: 1.2000 (the current Resistance).
Most recent EURUSD signal:
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DXY Sell SignalPattern: Channel Down on 4H.
Signal: Sell as the price just broke the 4H MA50 and is approaching the Lower High trend-line of the Channel Down.
Target: 91.35 (Lower Low of the Channel Down).
Most recent signal on DXY:
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DOLLAR INDEX Buy SignalPattern: Channel Down on 4H.
Signal: Buy as the RSI and MACD have hit their respective Support levels, with the price already near the Lower Low trend-line of the Channel.
Target: 92.85 (potential contact with the 4H MA50).
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EURUSD Buy SignalPattern: Channel Up on 4H.
Signal: Buy on a recurring pattern based on the MACD.
Target: 1.1960.
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EURUSD Buy SignalPattern: Channel Up on 1H.
Signal: Buy as the pattern touched the Higher Low trend-line of the Channel Up.
Target: 1.2050 (just below the +1.60% Higher High extension).
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EURUSD Sell SignalPattern: Emerging Channel Down on 4H.
Signal: Sell as both the RSI and MACD are descending, repeating the June Channel Down sequence. The price is also clearly below the 4H MA50.
Target: 1.16500 (-2.25% from the top)
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USDJPY Sell SignalPattern: Channel Down since 2017.
Signal: Sell as the price broke below the Channel's pivot (dashed line).
Target: 102.000 (just above the Support line and the inner (blue) Lower Low trend-line).
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USDZAR Trading PlanPattern: Channel Down on 1D.
Signal: (A) Bearish as long as the 1D MA50 (blue line) is intact, (B) Bullish if it breaks or the RSI enters the Buy Zone.
Target: (A) 15.500 (former Resistance and now Support), (B) 17.8850 (Symmetrical Resistance).
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USDMXN Sell SignalPattern: Triangle/ emerging Channel Down on 1D.
Signal: Sell as the RSI is replicating a sharp drop fractal.
Target: 21.600 (just above the Support).
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Most recent USDMXN signal:
USDKRW A long-term approachPattern: Multi-year Channel Up on 1W since mid 2014.
Signal: If the green trend-lines break, it is a sell signal but suitable to long-term traders only.
Target: First to the 1W MA200 and then the Higher Lows trend-line of the long-term Channel Up as illustrated by the green arrows.
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USDPHP Trading planPattern: Channel Down.
Signal: (A) Buy as long as the 4 year Support holds. (B) Sell if it breaks.
Target: (A) 50.00 (just below the Symmetrical Resistance). (B) 48.00 (the next Support level).
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