EURUSD has confirmed my thesis, and is now rallying after the G20 meeting key level held. We have to see if the Brexit key level is breached, which if it happens, will send the Euro to the 1.1163 handle, and perhaps slightly higher.
Additionally to these developments, derived from price action around fundamental events, we can also observe the 'Time at mode' signals on chart, and come to the conclusion that we will see rallying from here onwards, since the recent daily setup failed to proceed to the downside. By this week's close, the weekly trend will turn up if we see a close above last week's high, so, we'll most likely observe a counter trend rally, from the perspective of the monthly, which seems to be the timeframe in control in EURUSD.
On the topic of the monthly, which -if we favor top down analysis- is the timeframe in control of the main trend, and thus, the most spectacular and long lasting moves, if the month closes under 1.1216, there will be confirmation of a downtrend that aims for prices below parity in the long term. Hold longs for the time being, we will flip short at the top. I'm long EURUSD from 1.1022, with stop at 1.0952.
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Cheers!
Ivan Labrie
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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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EURUSD had difficulty crossing the Brexit key level on chart but is now marching towards the next key level above: if it breaks 1.1163 with confidence it'll approach the next daily swing high where a ton of stops reside, or potentially the monthly mode at 1.1216
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Euro pegged against the G8 key level. If it breaks under today's low after the close it could be a short.
ความคิดเห็น
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I entered short at the monthly mode resistance, 1.1215, half risk and stop above 1.1425.
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Price found support after hitting the Brexit key level. I got out of shorts but didn't go long this time. I'm looking to see how the Euro acts when approaching the levels above. I'm interested in EUR cross pair trades though.
Hello, Ivan.
Seems that Bulls took over the game. Posible 1.14 1.15? I smell Buying starting from next week.
rzvfx
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EURAUD looks good for a Long. Your opinion ?
IvanLabrie
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Hi, EURAUD is tracing a downtrend, so not a good idea in my opinion.
TheZabisyu
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Any update on this Ivan? Have something on radar? I believe it is still selling ahead from now.
TheZabisyu
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Hello, Ivan!
I already did my analysis, and hopefully you an throw an eye on it!
I totally agree with you on EU shorts starting now.
Everything in description with screenshots with levels!
Cheers.!
Alex.Singletary
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got it as well mate
IvanLabrie
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Great.
TheZabisyu
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Hello, Ivan!
So great!
I managed to Re-Buy on 1.1075 after my analysis! In huge profit now!
Willing to see where it will close!
IvanLabrie
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I'm out of longs, shorted half at 1.1165, will add if we break 1.1186.
TheZabisyu
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Hello, Ivan!
Nice call on Adding the shorts on 1.1186 break! It got down from this area!
I think we have nice opportunity to go in some long term sell next week on this pair!
Although It could still make it to 1.12xx
But my sentiments are showing that price should be back to 1.0953.
Thanks.
Seems that Bulls took over the game. Posible 1.14 1.15? I smell Buying starting from next week.