EUR / USD is trying to overcome the resistance of 1.1230. Most likely there will be a breakdown up. Stochastic moves from level 50 and is well charged for a breakdown of resistance.
Looks like that divergence is over, so I have an order to sell the EURUSD at 1.1129 and a stop at 1.1180.
Hope that entry isn’t too high.
Resistance held, but strong support around 1.0840? That’s a long way off, anything could happen before that.
My prediction for next week will come upon the close on the weekly time frame today. Price action is presently consolidating within a significant support zone on the weekly time frame. How the market reacts to this zone at this week’s close is likely to give a clue about next week’s technical outlook on EURUSD.
Trade safe and prosper.
The Tenkan line crossed the blue Kijun line from top to bottom. This is a signal for sales. EURUSD is moving under the Tenkan, Kijun and cloud lines. There is no support. The resistance lines are Ichimoku. It is a sell.
EUR / USD returns to the previously broken level of 1.0990. I suggest selling with a stop loss of 1.1026 and a target of 1.0855. The goal is quite far in relation to the stop loss, this is a good trade. The trend is down. The Tenkan and Kijun lines almost came out of the cloud. Stochastic rose from the oversold zone and is ready to move down.
It could be a bearish week for the EURUSD if it confirms a real breakdown below the 1.1000 level. To the downside, the 1.0900 level could act as support.
Did you take a profit, move your stop or still holding? Just curious. The USD seems to be in the middle of nowhere.
Looks like support of a kind has been touched, but momentum is still down. Looks like the Euro may have some more room lower: the AUD might be the best candidate for a day?
I think I’ll sell EURAUD.
The beginner's guide to FX trading