Trade Plan (Pending): I am buying EUR/USD at 1.0799
Trade Plan (Pending): I am buying EUR/USD at 1.0799
DXY (USD Index) - the index continues to lack any clear direction with spikes seen in both directions for the last 8 days. The intraday chart highlights the last sell-off stalling at 102.77. This is the 61.8% Fibonacci level. That would suggest we have scope to build a bullish Gartley pattern at 102.60, with the index currently moving lower within the CD leg. This has resulted in the immediate bias being mildly bearish.
EUR basket - the intraday chart highlights the completion of a bullish crab formation close to our support levels at 571-569. I look to buy dips.
Correlation studies suggest limited downside pressure for EUR/USD.
EUR/USD - holding within an ending wedge pattern. On a break of the trend of lower highs at 1.0912, the measured move target is 1.1000. Bespoke support is located at 1.0799 and 1.0798.
I am buying EUR/USD at 1.0799
SL: 1.0755
TP1: 1.1000
Risk/Reward Ratio of 4.7R
DXY (USD Index) - the index continues to lack any clear direction with spikes seen in both directions for the last 8 days. The intraday chart highlights the last sell-off stalling at 102.77. This is the 61.8% Fibonacci level. That would suggest we have scope to build a bullish Gartley pattern at 102.60, with the index currently moving lower within the CD leg. This has resulted in the immediate bias being mildly bearish.
EUR basket - the intraday chart highlights the completion of a bullish crab formation close to our support levels at 571-569. I look to buy dips.
Correlation studies suggest limited downside pressure for EUR/USD.
EUR/USD - holding within an ending wedge pattern. On a break of the trend of lower highs at 1.0912, the measured move target is 1.1000. Bespoke support is located at 1.0799 and 1.0798.
I am buying EUR/USD at 1.0799
SL: 1.0755
TP1: 1.1000
Risk/Reward Ratio of 4.7R
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.