Interesting P.A playing out on the EUR/USD...

FX:EURUSD   歐元 / 美元
182 0
As anticipated, H4 action failed to sustain gains above the mid-level support at 1.1250 yesterday, consequently bringing the unit back down to the 1.12 handle by the closing bell. Technically speaking, we would not be surprised to see the pair continue lower. Our reasoning lies within the higher-timeframe structure. Not only do we have a major weekly supply in play at 1.1533-1.1278, but we also see that there’s a daily supply in motion that’s glued to the underside of this weekly zone at 1.1327-1.1253. The closest higher-timeframe support target can be seen on the daily timeframe at 1.1142.

Our suggestions: Selling beyond 1.12 is an option today, but do take into account that this would only leave one 50 pips of room to play with down to the H4 mid-level support 1.1150, which is where we would look to take full profit given the confluence surrounding this barrier. To take advantage of this move, we’d recommend waiting for a H4 close beyond 1.12 that’s followed up with a retest and a lower-timeframe confirming signal. This could be either an engulf of demand followed by a retest of this area as supply, a trendline break/retest or simply a well-defined collection of selling wicks off of 1.12. We typically search for lower-timeframe confirmation between the M15 and H1 timeframes, since most of our higher-timeframe areas begin with the H4. Stops are usually placed 1-3 pips beyond confirming structures.

Not only is 1.1150 a take-profit zone, it’s also a nice area to look for buying opportunities. The base offers the following structures:

• A H4 trendline support taken from the high 1.1268.
• A H4 trendline support etched from the low 1.1075.
• A H4 61.8% Fib support at 1.1155 drawn from the low 1.1074.
• A H4 78.6% retracement level pegged at 1.1147 penciled in from the low 1.1109.
• A daily support level seen at 1.1142.

Seeing as how this zone is rather small, we will not be placing pending buy orders here. Instead, we’ve chosen to wait for a reasonably sized H4 bull candle to form, preferably a full-bodied candle. This will help prove buyer interest exists here which IS needed due to where price is trading from on the weekly chart right now.

Data points to consider: No high-impacting news events.
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
HE עברית
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人資料 個人資料設定 帳戶和帳單 我的客服工單 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出