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Showing posts with the label resistance

EUR/USD is probably falling again

The pair is currently trading at 1.1575$ , daily high during asian session was 1.1607$ . The pair currently has strong resistance at 1.1685$ , you can short the pair now with stoploss on the event of an hourly candle close above the resistance. The next support for the pair is 1.1525$ , it might get broken as well. Follow me for updates on this trade and more.

Eurusd supported at 1.1590$

The pair has reversed sharply from 1.1740$ to 1.1580$ . The pair is showing some strength at this area. The pair is firm and trading at 1.1614$ currently with next resistance at 1.1640$ area. So keep in mind those levels 1.1580$ and 1.1640$ acting as support and resistance respectively. Below 1.1580$ , the pair would be extremely bearish while bullish above 1.1640$ area. I recommend not taking any position now and waiting for the pair to trade at any of those areas and initiate a long or short position near the support and resistance respectively. Remember , Dont rush into trading , wait for a good opportunity and maintain a stop loss and risk reward ratio.

Dont panic selling/shorting

Eurusd , Gbpusd reversed their daily gains and now trading in the negative territory on the day. This is a healthy correction and we will have a chance to buy both euro and the pound at lower levels.  I dont recommend shorting for now as we will only have a very small profit relative to waiting and going long very soon . Stick around for another post when a trade will be triggered against the dollar

Eur/Usd broke the trendline

Eur/usd broke below the bullish trendline and is currently retesting it and it will of course go down again to break the recent low at 1.2385$ The target should be around 1.2260-1.2300$ area ..

Euro bearish reversal from 1.2480$

EUR/USD gave back all the gains it made this week and reversed sharply falling to 1.2390$ at the time of writing The pair will find resistance by the bearish trendline and would be a good chance to short the pair again at 1.2410$ targeting 61% fibonnaci retracement (move from 1.2160$ to 1.2520$) where it will be around 1.2305$ . A break below 1.2305$ will expose 1.2260$ support area where the pair might rebound from to retest the area at 1.2360$ .

Ripple consolidating before break out

Ripple (XRP) is currently consolidating against USD before breaking out within the coming 48 hours. Next resistance lies at 1.25$ while next support lies at 1.120$. Ripple is currently trading at support and you can buy with tight exit with target around 2.30$ , first profit taking around 1.84$ if we break out of the wedge to the upside.