General EURUSD Chart Analysis

[Frano Grgić]

EURUSD has made a pullback this week after it confirmed breakout from the descending channel.
On Monday, October 12, the pair formed an indecision candle that stopped price moving higher.

Since then the pair was making bearish candles. On Wednesday the pair formed again indecision candle after which the pair made another bearish candle
As it looks like, the strong bearish candles are suggesting that the price has a hard time to move UP so it is good to wait and pay attention on Monday close.


But, as I said, I am still bullish until the price is above $1.17000. If the price manages to close below the price could move down to $1.15462 support which is also a monthly strong support.

 

[Frano Grgić]

EURUSD found strong support at the $1.17000 and for the whole week the pair is moving higher. The rise of a price was stopped at the resistance level of a new uptrend channel.

End of the week formed a bullish engulfing candle suggesting further move up at the beginning of the next week.

The pair is very close to the strong resistance level which is defined by the uptrend channel resistance and horizontal resistance.

I am expecting the pair to stall at the $1.1900 before trying to break above. We could see a pullback to $1.17800 – $1.18000 area where the price could find support for next move up.

 

[Pizar08]

EURUSD has made a pullback this week after it confirmed breakout from the descending channel.
On Monday, October 12, the pair formed an indecision candle that stopped price moving higher.

Since then the pair was making bearish candles. On Wednesday the pair formed again indecision candle after which the pair made another bearish candle
As it looks like, the strong bearish candles are suggesting that the price has a hard time to move UP so it is good to wait and pay attention on Monday close.


But, as I said, I am still bullish until the price is above $1.17000. If the price manages to close below the price could move down to $1.15462 support which is also a monthly strong support.
View attachment 12266

After a retest it will goes up again, as the monthly support is very strong

 

[crookedusage]

thanks for the analysis bro carefully monitoring the eur/usd with lockdowns imminent and the impact it would have

 

[Islam.Osg]

I want to thank you for your effort
I am following you

 

[Frano Grgić]

The pair ended the week in the middle area between two strong resistance levels. On the upper side we have $1.17000 and on the bottom side we have $1.16178.

Well, as it now looks like the market is heading down and the first support that is ahead is $1.16178 which stopped the price last time. That stop was a month ago, on October 25.

The first support $1.16178 likely will not hold the price so the next support is at $1.15462 which is a confluence of support levels.

 

[Frano Grgić]

thanks for the analysis bro carefully monitoring the eur/usd with lockdowns imminent and the impact it would have

You are welcome.

 

[Frano Grgić]

I want to thank you for your effort
I am following you

Thank you

 

[Michael Itatiro]

EURUSD had bull run just in few four hour sessions where the price have reached resistance level.
That level is hard to break up and price formed two bearish Pinbar.

Daily time frame is showing bearish Pinbar. All those signals suggest we could see price moving down to the range area support level.
View attachment 7943

great work going to check it out and give my findings,i better check for it
nice work

 

[giscardh]

We have now price bounced from the resistance line at 1.09860 where candles look like the bulls have much more strength.

Bounce has been realized with small bear candles which does not give to much confidence in the bear strength. That is why we should watch for the bullish price action signal.

View attachment 8287

Good joy bro

 

[Tonexfx]

wow , i love your analysis, great insight
keep open our eyes and we are ready to learn pure price action

 

[wumidami]

Hi Everyone

Just a reminder of the upcoming elections. I strongly advise you to be out of the market tonight and at least until next Friday.

Trump got us used to driving the markets crazy. If he loses and disputes the decision, it could make them crazier than ever.

If you decide to stay in the markets, be aware of extreme volatility risks that we may be experiencing.

Stay Safe.

 

[jerry@MJ]

now this right here is the best sculper ive ever seen i love it hey

 

[Frano Grgić]

great work going to check it out and give my findings,i better check for it
nice work

thanks. I am glad you enjoy it

 

[Frano Grgić]

than

Good joy bro

thanks

 

[Frano Grgić]

wow , i love your analysis, great insight
keep open our eyes and we are ready to learn pure price action

thanks. I will continue sharing it with you.

 

[Frano Grgić]

now this right here is the best sculper ive ever seen i love it hey

thanks. In the next post is for the next week .

 

[Frano Grgić]

In the previous analysis I have pointed that the price could reach $1.16178 level and then make a pullback to $1.16700 – $1.17000 area.

The price did just that and reached uptrend channel support level which is a confluence of horizontal resistance and uptrend support line. From there the price returned back to $1.16178, but since then the price changed from the bearish into the bullish sentiment.

When the price reaches $1.19000 – $1.19300 level we could see the price making a pullback back to $1.18200 before moving further up. The $1.18200 is an uptrend channel support area which will stop the price from falling down to $1.17000.

 

[Ogba]

In the previous analysis I have pointed that the price could reach $1.16178 level and then make a pullback to $1.16700 – $1.17000 area.

The price did just that and reached uptrend channel support level which is a confluence of horizontal resistance and uptrend support line. From there the price returned back to $1.16178, but since then the price changed from the bearish into the bullish sentiment.

When the price reaches $1.19000 – $1.19300 level we could see the price making a pullback back to $1.18200 before moving further up. The $1.18200 is an uptrend channel support area which will stop the price from falling down to $1.17000.
View attachment 13016

Very new to this forum. I like the simplicity of your analysis. What time do you normally post your analysis on this forum. Thank you.

 

[Frano Grgić]

In the previous analysis I have pointed out that the two things can happen.

the pair could reach $1.19000
and then make a pullback to $1.18200

Both points were realized last week in just one day, on Monday.

Since the price broke below the uptrend channel support line and it bounced back to the same level I am now open to sit and wait.