EURUSD Wk38 15-09-2024
The benefit of trading on tradingview is that it gives you a high level overview of the historical price of the pair of your interest.
Price broke the high of the last week 52 of the year 2023 (27-Dec-2023) at the value of 1.11250 at week 34 of this year (21-Aug-2024). It took 34 weeks or 8 months for price to grow or reach this level. In week 35, the dealer decided that price should begin to fall from a height of 1.11900 making it impossible for price to reach the high of week 29 of last year 2023 (17-Jul-2023) at the value of 1.12500.
It would seem to me that EURUSD changes trend every 3 months because from week 29 price made a high of 1.12500 and a low at 1.04750 in week 40 (03-Oct-2023). Let's put this aside for one minute.
Price became bearish last week at 1.10500. The low of the week being 1.10250. On a higher time frame, I would expect bullishness to extend to 1.139.
Long term direction: Bearish
Short term direction: Bullish
On a demo account, I would be willing to sell the pair with 0.01 lot size at 1.10250. I expect price to pull back to 1.09 before some bullishness will resume on the pair
Sell stop 1.10250
Lot size 0.01
Take profit 1.09000
Buy stop 1.11750
Lot size 0.01
Take profit 1.12500
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Disclaimer: Not to be taken as trading advice. Educational purposes only
Price broke the high of the last week 52 of the year 2023 (27-Dec-2023) at the value of 1.11250 at week 34 of this year (21-Aug-2024). It took 34 weeks or 8 months for price to grow or reach this level. In week 35, the dealer decided that price should begin to fall from a height of 1.11900 making it impossible for price to reach the high of week 29 of last year 2023 (17-Jul-2023) at the value of 1.12500.
It would seem to me that EURUSD changes trend every 3 months because from week 29 price made a high of 1.12500 and a low at 1.04750 in week 40 (03-Oct-2023). Let's put this aside for one minute.
Price became bearish last week at 1.10500. The low of the week being 1.10250. On a higher time frame, I would expect bullishness to extend to 1.139.
Long term direction: Bearish
Short term direction: Bullish
On a demo account, I would be willing to sell the pair with 0.01 lot size at 1.10250. I expect price to pull back to 1.09 before some bullishness will resume on the pair
Sell stop 1.10250
Lot size 0.01
Take profit 1.09000
Buy stop 1.11750
Lot size 0.01
Take profit 1.12500
If you like my analysis, give it a boost. If your analysis is different, share on this thread. Follow me and I will follow you back.
Disclaimer: Not to be taken as trading advice. Educational purposes only
บันทึก
Now that EURUSD is bullish in that it has broken the high of last week, we need to keep an eye on the pair to see if it would break the high of the previous week at 1.115บันทึก
Dealer maintain a balance. They have bought EURUSD for about 140 pips from last week from 1.10000 - 1.11400. Should price remain below 1.11000 we can expect some bearishness. The reason is because price did not keep above the previous week high of 1.11500
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คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน