some trading ideas how we plan bearish scenario for eurusd:
Well, EUR USD bears and bulls still playing ping-pong in flat canal 1.1880 – 1.1690.
If we see failure at price level 1.1880 than we should see the market retest price level at 1.1320.
Monthly close price will help us with further estimations and eurusd trading.
Good luck 😉
Yesterday bears pushed down the price and the daily close was 1.1649. Now we pay attention for the monthly price close and after that we will choose the price direction for EURUSD.
ForexTeam traders expect bulls pressure for the currency pair EUR USD with first Take-profit target on 1.1904 – 1.1910. This bulls pressure will be alive till the daily close price below price level 1.1732.
We kindly invite bulls in EURUSD till our first Take profit target! Welcome)
Hope you enjoy ForexTeam app 😉
EUR USD bears are preparing the trap for bulls, if the daily close price does not reach price level at 1.1904, than ForexTeam traders see the opportunity to sell EUR USD with a target of 1.1646-1.1603.
We’ve already opened EURUSD Sell limit at 1.1887
we hope you are trading well)
Let’s take a look to monthly resistance and support levels for EURUSD and Dollar Index.
According ForexTeam technical analysis, we see the following monthly price levels:
RESISTANCE = 1.1904-1.1942
SUPPORT = 1.1646-1.1590
If daily close price for EUR USD will be under 1.1794 than we are awaiting more bears pressure till price level 1.16
RESISTANCE = 94.6 – 94.74
SUPPORT = 92.89 – 92.34
If daily close price for Dollar Index will be above 93.27 than we are awaiting more bulls pressure till price level 94.6
P.S. ForexTeam sold EUR USD from 1.1835 and 1.1793 with TP1=1.16
In our weekly EURUSD report last week we planned bearish pressure for EURUSD and we wrote about H&S figure on H4 time frame. ForexTeam traders were right and yesterday EURUSD price reached 1.1760 level.
From this price level we could see more bearish pressure (new leg down) going till 1.1660 price level, it is all possible because dollar index price could rise till 93.95.
we present you our new trading ideas about price behavior for currency pair EURUSD.
According ForexTeam technical analysis we can say that EURUSD could test price area 1.2170, while this currency pair continues to hold over uptrend line at 1.1830, but if we take a look to USD index we can say that bears could press the price already from price level at 1.2050.
EURUSD H4 chart shows us possible H&S pattern in progress.
If bears take a control over the price on EURUSD, please pay attention on the following price levels:
All these price levels are possible (Stop-loss) breakup points.
here we are with the new USD index weekly report.
ForexTeam traders think that at present time (august-september) it could be price rebound from support level 93.00, the same picture like in Dec. 2016 – Jan. 2017, but now from other side.
Importaint resistance levels:
RES 1 = 94.64
RES 2 = 96.67
RES 3 = 97.87
Have a good week!
ForexTeam traders are watching now for USD Index consolidation and rebound pattern to develop. At the end of July 2017 we can expect one more leg down to support level 93, it is the lower edge of the band 93-100, developed from 2015.
95.10 – is the next resistance target for rebound from 93 support level.
we compare GBPUSD and USD Index. If resistance level on USD Index (96.50) stops the bulls, it will be the case for GBPUSD to jumping up. Let’s go!