Euro / Dollar ASPenjualan
EURUSD Top-Down Analysis (Short then Long)
Hello Traders,
Here is the Top-Down Analysis of EURUSD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 46 - Nov 09
M > Price was respecting downward resistance trend-line however it broke trend-line to the upside, it will now act as support. We can see two W patterns, both below the tren-line as off now. We will have these two targets, both near 0.382 and 0.618 Fib levels on last monthly bullish impulse, active only after price breaks trend-line to the downside.
W > After breaking trend-line to the upside price decelerated and created a consolidation.
D > While deceleration price respected upward trend-line as support and after its break to the downside price is respecting the same as resistance. Price has dropped till daily demand zone twice creating a double bottom and has now moved up to test trend-line as resistance. We expect price to continue in range again. We can see bearish divergence and in short term expect price to drop.
As per COT EUR saw closure Long and addition of Short, reducing net positions further. EXY weakened during the said period however it gained massive strength during last week on account of weak dollar for uncertainty surrounding US elections. EXY is now testing weekly resistance.
Institutions, since last month, have been reducing their portfolio of Long and increasing Short positions, with about 60K Long positions closed and 18K short positions opened so far. However due to weak dollar EUR is being considered safe and reliable and we are sure last week institutions have added more Long. We can expect some downward move as correction in early part of coming week but it is very likely that EUR will move upwards. We will have to wait and watch for Institutions move for next couple of weeks.
4H > Price has faced rejection at trend-line and we can see bearish divergence.
Pair Correlation > EURUSD has positive correlation with Gold, Silver and CHFJPY and negative correlation with USDCHF.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
Here is the Top-Down Analysis of EURUSD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 46 - Nov 09
M > Price was respecting downward resistance trend-line however it broke trend-line to the upside, it will now act as support. We can see two W patterns, both below the tren-line as off now. We will have these two targets, both near 0.382 and 0.618 Fib levels on last monthly bullish impulse, active only after price breaks trend-line to the downside.
W > After breaking trend-line to the upside price decelerated and created a consolidation.
D > While deceleration price respected upward trend-line as support and after its break to the downside price is respecting the same as resistance. Price has dropped till daily demand zone twice creating a double bottom and has now moved up to test trend-line as resistance. We expect price to continue in range again. We can see bearish divergence and in short term expect price to drop.
As per COT EUR saw closure Long and addition of Short, reducing net positions further. EXY weakened during the said period however it gained massive strength during last week on account of weak dollar for uncertainty surrounding US elections. EXY is now testing weekly resistance.
Institutions, since last month, have been reducing their portfolio of Long and increasing Short positions, with about 60K Long positions closed and 18K short positions opened so far. However due to weak dollar EUR is being considered safe and reliable and we are sure last week institutions have added more Long. We can expect some downward move as correction in early part of coming week but it is very likely that EUR will move upwards. We will have to wait and watch for Institutions move for next couple of weeks.
4H > Price has faced rejection at trend-line and we can see bearish divergence.
Pair Correlation > EURUSD has positive correlation with Gold, Silver and CHFJPY and negative correlation with USDCHF.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.