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EURUSD | Perspective for the new week | Follow-up details

Following the bullish engulfing candle on Friday, the Euro has a tendency to reach new highs in the coming week only if a significant breakout of the $1.000 level happens. However, we can not ignore the possibility of a possible bearish momentum considering the fact that the price has been trading below the $1.0000 level in the last couple of months.

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Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

Transaction en cours

Price is currently trading within the 0.99450/.99050 since the beginning of the week and it is worth noting that the price is at an area characterized by selling pressure (under the $1.0000 mark) since the later part of last week's trading session. Lets wait and see how participants in this market will relate to this structure before making an informed decision.

Good morning

Transaction en cours

The price finally breaks out of the 0.99450 level as the price is presently at the $1.0000 mark. Is this going to be a bullish signal? It is worth noting that the $1.0000 mark has been a selling niche for a couple of months now, so we have to be careful of jumping in the moving train. Let's see if price movement will evolve into a trend continuation pattern to join the potential rally and if a reversal pattern happens, we want to get ready for the bearish momentum.

Transaction en cours

Thi setup was duly explained during the live studio session today (video uploaded on my youtub).
Selling pressure continues as the price trades below the $1.0000 level and when I scaled down to the 5 min timeframe - a reversal structure was identified

Transaction en cours

15minutes time frame

The final breakout of the $1.0000 mark which has being a strong selling niche in the last couple of months is a good sign for the buyers.

Transaction en cours

Price action moved over 30 pips in our direction before the plunge which took out the position at break even. Now, with selling pressure identified around $1.00350, there is the possibility of a transition to a retracement of the previous bullish impulse leg after a breakdown/retest of the $1.0000 area with a TP target around the zone identified on the chart. However, it is worth noting that a bullish trend continuation could happen if the price climbs up the $1.0000 area with buying pressure around that area. Update coming soon

Good morning

Transaction en cours

Buying pressure at the 0.99840 area followed by a breakout/retest of the $1.0000 area is a good sign for buying opportunity.

Transaction en cours

Buy stop triggered as the price has moved over 70pips in our direction; securing the position as price tests an area at the 1.01000 level which has been a selling niche in the past. Let's see how price relates to this level; are we going to be seeing a reversal pattern or a breakout of this level to incite a trend continuation to the upside?

Transaction en cours

Selling pressure continues below the $1.01000 level and this could incite a retracement into the buy zone in anticipation of a trend continuation. However, if the price breaks out of the 1.01000 level then this could turn out to be a bullish continuation pattern.

Good morning

Transaction en cours

The price is within the buy zone identified this morning. Buying pressure on the lower time frames is inciting a possible bullish moemntum.

Transaction en cours

The retest of the $1.0000 mark incites bullish momentum. So, we won't buy unless a breakout/retest of the $1.00340. However, it is worth noting that a breakdown/retest of the $1.0000 area could happen. The key level at the $1.0000 area will be serving as our guide for trading activities.

Good morning

Transaction en cours

UPDATE

The breakdown of the $1.0000 level finally happens

Transaction en cours

We talked about this during the live studio session (upload coming up on youtub in a moment). Securing position as price action is been monitored.

Transaction en cours

Taking out with a small profit on the sell position and it appears that I have missed this bullish momentum. Congrats to those who caught it... I will be patient to see if the market will present another opportunity to join this potential rally.

Transaction en cours

Since missing out on the impulsive move yesterday, I have been waiting for structures and it appears there is a consolidation since testing the 1.02100 area. At this juncture, there are two options to look out for;
i. breakout/retest of the $1.021000 area to join the potential trend continuation.
ii. A breakdown/retest of the $1.02100 level to incite a retracement phase in anticipation of a trend continuation to the upside.
Once again, Congrats to those who caught yesterday's move!

Good morning

Transaction en cours

UPDATE
Price continued as projected this morning; securing position

Transaction en cours

We discussed this in detail during the live session (the video will be uploaded on my youtub in a moment).
Looking forward to adding one more position

Transaction en cours

Second position triggered, secure position

Transaction en cours

It has been a profitable week... Congratulations to everyone who took part in this movement!

Happy weekend to you

darcsherry

Trade smart. Trade consciously

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