EUR/USD Ready To "Head" Out The Bottom Door?! - EU

2024年7月22日

Here I have EUR/USD on the 4Hr Chart!

Price has had quite a bit of trouble dealing with this Resistance Zone @ ( 1.09047 - 1.08841 )

Upon its attempts to Break above all last week Higher and Higher, these attempts failed and on the RSI, registered as Lower and Lower Highs, signaling the Bullishness is FADING!

The Last High @ 1.0948 was followed by a decline down to the clearly tested Support @ 1.08755

Now, Price is struggling with the same Resistance Zone as last week, ONTOP of dealing with a Falling Resistance created by the Highs made on the 17th & 18th.

If price is unable to go any higher and gives us a Lower Low in the ( 1.0910 - 1.092 ) Area, we could expect to see quite a STRONG REVERSAL chart pattern approaching ..
THE HEAD AND SHOULDERS!

*If Price Breaks and Closes above 1.09223, pattern INVALIDATED!
*If Price Breaks and Closes below 1.08755, pattern CONFIRMED!

2024年7月22日

交易進行

After price retraced to the 61.8% Fib Level, we can see it then falls drastically through the Kill Zone @ ( 1.08911 - 1.08839 )

Upon prices inability to break back above, I entered Sell Positions @ 1.0885!
SL @ 1.0905
TP @ TBD

2024年7月22日

註釋

DXY is currently bouncing on this ( 104 - 104.26 ) Support Zone

As you can see we are beginning to see the formation of a STRONG Triple Candlestick Reversal Pattern ..
Three Stars In The South!!

Meaning we should expect to see strength in the USD!

2024年7月23日

註釋

Price broke down below 1.08755, CONFIRMING the Head and Shoulders Pattern!!

2024年7月24日

註釋

Price has made its new Lower Low @ 1.0842!

French PMI Results are IN!!!
Manufacturing - 44.1 Actual v. 45.8 Forecast/45.4 Previous
Services - 50.7 Actual v. 49.7 Forecast/49.6 Previous

These mixed results have started to see Price on EU push back up to the Confirmation of Pattern @ 1.08755!

With German PMI Results to come @ 2:30 CST, lets see if price can make it up to Test the Break for more potential Sell Opportunities!

**BE AWARE! USD has Flash Manufacturing and Services PMI later this Morning!

2024年7月24日

註釋

German Flash PMI Results IN!!
Manufacturing - 42.6 Actual v. 44.1 Forecast/43.5 Previous
Services - 52 Actual v. 53.2 Forecast/53.1 Previous

Quite a disappointment

NEXT, EUR Flash Manu/Serv PMI Results @ 3 AM CST!

2024年7月24日

註釋

EUR Flash PMI:
Manufacturing - 45.6 Actual v. 46 Forecast/45.8 Previous
Services - 51.9 Actual v. 52.9 Forecast/52.8 Previous

Both results coming in at a disappointment!

USD Flash PMI:
Manufacturing - 49.5 Actual v. 51.7 Forecast/51.6 Previous
Services - 56 Actual v. 54.7 Forecast/55.3 Previous

Manu. coming in LOWER than expected, but Serv. picking up the slack!
We could continue to see USD overpower EUR!

2024年7月24日

註釋

NEW HOME SALES RESULTS!!
617k Actual v. 639k Forecast/621k Previous

This LOWER than expected print is giving EU the Bullish Push it needs to finish the Retracement to the Confirmation of Pattern @ 1.08755!