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We saw the price movement on the EUR/USD pair go just under the 1.1740 support line and consolidating at the same point. This is an indicator that the price has less chance of continuing its downside and good entre for risk reward management
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1st push down
We saw the 1st push down on the EUR/USD pair indicating a reversal so expect a price movement around 1.1750 for a continuation on the same side of the market
EUR\USD 2nd push up
As discussed in yesterdays blog, we were expecting a up move. We did not see any pull back before the push so I did not get in but now we can expect a 3rd push up
Sideways channel on EUR\USD
We are starting to see a sideways channel forming on the eur\usd pair indicating that their might be big price movement coming up with greater rejecting swings. With the american session canceling all the euro down movement, expect the up side to rally a bit more
Dip down on EUR\USD
We saw a dip down under the support on the eur\usd pair with no continuation giving us a good trade opportunity with good risk reward on the call side.
EUR/USD uptrend
With the beginning of the day with saw a double bottom form indicating us a upmove that concords with the new short term uptrend. Good risk reward trade
3rd push down on EUR/USD
We saw the eur\usd pair go for the 3rd push down as expected. We are looking for a pullback up to see if the trend will continue on the downside. For now took the profits off the table to wait paitently
EUR/USD 2nd push
We saw the 2nd push up on the EUR/USD pair. The entry point under the 1.19 break was perfect and we got the confirming candle 30 after showing there was no continuation down in the market
EUR/USD finished 3 push down and now reversing
Like mentioned in my blog before, the market tend to give 3 pushes after a reversing or sideways movement. This is what we saw in the days earlier and we saw a reversing candle today under the new lows with no continuation downside indicating that the pair was most likely to reverse.
EUR/USD prepares to reverse
Like indicated in the last blog post, the eur/usd pair is preparing to reverse. We saw the first indicator with the big candle down. If we see a confimation candle with double bottom, this could be a great entry point a reverse trade with good money management risk/reward