There is a possibility for the beginning of an uptrend in EURUSD
Midterm forecast:
While the price is above the support 1.1000, beginning of uptrend is expected.
We make sure when the resistance at 1.1450 breaks.
If the support at 1.1000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
. While the RSI resistance #2 at 52 is not broken, the probability of price increase would be too low.
. The RSI is at 54.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.1175 to 1.1100). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.1175)
Ending of entry zone (1.1100)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.12650
TP2= @ 1.13450
TP3= @ 1.14500
TP4= @ 1.15700
TP5= @ 1.17250
TP6= @ 1.18650
TP7= @ 1.20300
TP8= @ 1.22300
TP9= @ 1.25550
TP10= Free
While the price is above the support 1.1000, beginning of uptrend is expected.
We make sure when the resistance at 1.1450 breaks.
If the support at 1.1000 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
. While the RSI resistance #2 at 52 is not broken, the probability of price increase would be too low.
. The RSI is at 54.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (1.1175 to 1.1100). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (1.1175)
Ending of entry zone (1.1100)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 1.12650
TP2= @ 1.13450
TP3= @ 1.14500
TP4= @ 1.15700
TP5= @ 1.17250
TP6= @ 1.18650
TP7= @ 1.20300
TP8= @ 1.22300
TP9= @ 1.25550
TP10= Free
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