Slowly, you should start paying attention how the day and weekly candles play. Get the entry like above and match it with the candle formations on higher TF and you should be alright
For the intraday bias, once again the EURUSD is now moving in from its previous bearish stance and showing fresh bearish signals in its hourly chart, due the negative fundamental shown, as prices are now moving into the negative territory in its overnight trading and moving now at 1.3029, and might break its support line of 1.3025, suggesting that it may further show bearish signals. As its 63-day SMA (olive line) and 84-day SMA (black line) both indicates that prices are now showing its bearish stance and might continue its dip for the coming hours. It’s three brother bearish pattern is now in place, with its 5-day EMA, 9-day SMA and 21-day SMA lines indicating the start of its bearish stance. The Bollinger Bands (21) is showing support for its bearish stance as its upper and lower channel opening its bands in order to make prices to drop further.
In its economic outlook, the markets are showing negative signals in its reaction, as pessimism continues to wanes the European markets together with its economic data, economies overseas, as it showed its worst slump in four years, coupled by plummeting data coming from Germany, France and Italy according to its government data. With its preliminary reading of its gross Domestic Product in the euro region showed a decline of 0.6% in the fourth quarter from the previous three months, indicating the worst performance since the euro crash in 2009.
Thus, expect prices to drop further as its RSI (14) and MACD (9, 26, 12) showing that prices are now near its oversold levels.
What a horrible mess. Are you sure that you have posted this in the correct forum? Your chart is showing everything that is purposely NOT discussed in these threads.
There should be nothing on your charts except candles, S/R lines and hopefully a trade.
So after much time spent twiddling my thumbs I downloaded metatrader 4 yesterday. I don’t plan on demo trading yet but have kept myself entertained by drawing support and resistance lines. I have many question, most of which I have forgotten but I hope to start posting charts soon for all to critique my S/R levels.
This is what I see on E/A. I see room to go down a little more before it is at the daily support. I see the nearest 4hour supp/res area around 1.2710. What do you guys think about my analysis?
Can you explain what you meant or saw o the Higher TF that showed that?
Also I see a possible BPC on EU but we are just starting the asain session. It would be strong since it would be bouncing from a daily support turned res.
Blackhand if you see the daily candle on EU pair strong support was 1.30 but now it is becomes resistance, if you look at 4 h and 1 h candle you will see price bouncing those level so we can take it as S/R level. I am waiting for price to touch 1.301 level and then wait for 1 hr candle to form what type of shape it form.
Erinsunc patience is very important factors in this business, 1 HR candle form with solid bull candle so I will wait until it hit 1.305 or current HR candle close to decide my entry. I can not surely say that price will continue to go up or go down.
Actually I am not very experienced trader, still learning I am trying to reduce my risk as much as possible. Makes mistake everyday, and I am trying to learn from it.
anyone saw EU at 13:00 GMT today?
I think bias was supposed to be sell because yesterday was a sell
EU price falls down and then suddenly shot straight up about 100 pips or so,
is that the effect of news?
