Frano Grgić
Active Member
Yes, on Monday was a bearish candle, but on Tuesday the price returned back up and it is still holding inside this small range between $1.19000 and $1.20000.
General EURUSD Chart Analysis
- Thread starter Frano Grgić
- Start date
Frano Grgić
Active Member
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.
$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
Active Member
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.
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
Active Member
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.
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
New Member
Thank you for sharing, it's an eye opening for a newbie like me.
Frano Grgić
Active Member
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.
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
Active Member
You are welcome.
Frano Grgić
Active Member
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.
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
Active Member
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.
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
New Member
Will have a look at this one and keep watching and see what happens
Frano Grgić
Active Member
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.
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
Active Member
Frano Grgić
Active Member
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.
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
Active Member
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Frano Grgić
Active Member
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.
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
New Member
the EUR/USD is a great pair to trade as it has good volatility and works quite well with technical analysis.
Frano Grgić
Active Member
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
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
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