General EURUSD Chart Analysis

[Frano Grgić]

On Tuesday the price has strongly broken below $1.19000 which was a sign of bears strength.

$1.17000 is lower end of the old range area so I am expecting to see the price first reaching $1.17500 and then reversing back up to around $1.19000.

This could be a nice opportunity to catch the selling wave down to $1.17000.

 

[Frano Grgić]

Strong selling pressure pushed the price down to $1.17203 support level where the minimum price $1.17030 was reached.

It will not be too easy to break below $1.17000 support, so I am expecting the price to reach $1.18400 which is the level that previous bullish candles has reached after hitting $1.17200 support.

Looking on the weekly chart it looks like it is ready to move down to reach $1.16183 support level.

 

[Frano Grgić]

The price reverse happened and the $1.18400 was reached as was said in the previous weekly analysis.

But, the price managed to get out from the descending channel and reach major resistance at $1.19000.

f the price ends next week above $1.19000 then it will move market sentiment to slightly bullish.

If the price manages to close above $1.20800 then the next resistance is at $1.21080.

 

[danielprasetyo]

Thank you for sharing, it's an eye opening for a newbie like me.

 

[Frano Grgić]

After last week engulfing candle the pair has found strength to move 100 pips up and reach key level at $1.20000.

As I said in the previous week analysis the price will look more bullish if it closes above $1.19000.

Now I can say that the market really looks bullish and I expect the price to reach $1.20800 which is major resistance for the pair.

 

[Frano Grgić]

Thank you for sharing, it's an eye opening for a newbie like me.

You are welcome.

 

[Frano Grgić]

The price played out just like it was mentioned in the previous week’s analysis.

The price broke above $1.20000 and reached $1.20800 level.

Resistance at $1.21800 is stronger resistance and it will play a major role for the price to break above and to reach levels above $1.22000.

If the price manages to close above $1.22000 it will have a clear path to $1.23000 as a new high.

 

[Frano Grgić]

The price managed to reach some highs, but not $1.21800 which is the next resistance.

Now the price has returned back down close to $1.20000 which now acts as a support.

The price will likely stay here in the range between $1.20000 and $1.21800 before trying to break above $1.21800.

 

[andzthekingtjirk]

Will have a look at this one and keep watching and see what happens

 

[Frano Grgić]

The week has ended with the price close to $1.21800 level which is now resistance for the pair.
The resistance area around $1.21800 was active two weeks ago.

I am expecting the price to go down around the $1.20800 level and find support for the next attack upside.

The next target is $1.22000 which is strong resistance that prevented the price from stabilizing to make a next move to $1.25000.

 

[Frano Grgić]

Will have a look at this one and keep watching and see what happens

Sure

 

[MisterIsk]

This is a very good job, friend!
Continue, do not stop!

 

[Frano Grgić]

The price has done what was discussed in last week’s analysis. The price touched $1.21800 and returned back down to $1.20800.

The $1.21800 is close and I am expecting it will break above.

Weekly time frame shows me a clear bullish scenario with a $1.22800 target.

 

[Frano Grgić]

This is a very good job, friend!
Continue, do not stop!

Thanks for your comment.
Sure, I am here for that .

 

[Frano Grgić]

The price broke above $1.21800 on Tuesday and we had strong buying sentiment.

Then the market reversed back down to find support on the $1.21800 which happened on Wednesday.

I like to look on the weekly time frame and what I can see it just started the move up.

So I am expecting the price to move up and try to break above $1.22800.

 

[Panusa1807]

the EUR/USD is a great pair to trade as it has good volatility and works quite well with technical analysis.

 

[Frano Grgić]

The week started with a bullish scenario at the $1.21800 with the target at around $1.22800.

Price reached $1.22660 and then reversed back down to $1.21800.

The price is currently on a strong support where we have a confluence of support levels

First target is $1.22800 which is now a strong resistance that must be broken so the price can create its new highs

 

[brokerip]

the usd is gonna come strong...i dont think it will go too much upwards...

 

[brokerip]

sorry for the wrong comment,i see euruusd in 1.28 or 1.29 even in the long term so no sells at the moment

 

[manmesh3]

I am seriouly looking for an expert advisor that will give real profit, please any one that has one should PM ME