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Trade levels EURUSD only

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EURUSD moved sideways in a trading range between 1.1215 and 1.1500. As long as 1.1500 resistance holds, the downside movement from 1.1815 could be expected to resume and a breakdown below 1.1215 support could trigger further downside movement towards 1.1100. On the upside, a breakout of 1.1500 would suggest that the downside movement had completed at 1.1215 already, then the pair would find next resistance level at around 1.1700.

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7 hours ago, TrendFollower said:

@BRIGHTLIGHTFX,

Are you able to expand on why if the 1.15 resistance holds then the downside movement from 1.1815 could be expected to resume?

 

thats because of the market cycle

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@BRIGHTLIGHTFX,

Please accept my apologies but that does not make sense. So if 1.15 resistance holds then the downside movement from 1.18 could be expected to resume because of the market cycle! 🤔

Are you able to expand on that with more specifics and detail so that is more meaningful?

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20 hours ago, TrendFollower said:

@BRIGHTLIGHTFX,

Please accept my apologies but that does not make sense. So if 1.15 resistance holds then the downside movement from 1.18 could be expected to resume because of the market cycle! 🤔

Are you able to expand on that with more specifics and detail so that is more meaningful?

hi there, there are minor and major cycles in market so I analyse 4hr and higher time frames, what I mean is that when an important level holds there is a chances that the bigger cycle with resume or end.

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EURUSD is forming a triangle pattern on the 4-hour chart. Another rise towards the upper trend line of the pattern is possible in a couple of days, a breakout of the this trend line could take the price to 1.1500 area. On the downside, a breakdown below the bottom support trend line could signal resumption of the downtrend from 1.1815 (Sep 24 high), then next target would be at 1.1200 area.

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EURUSD failed in its attempt to breakout of the upper line of the triangle pattern on the 4-hour chart and pulled back from 1.1418. Deeper decline towards the bottom support trend line of the pattern is possible in the coming days, a breakdown below this trend line would indicate that the downside movement from 1.1815 (Sep 24 high) has resumed, then next target would be at 1.1200 area. Near term resistance is at 1.1355, above this level could trigger another rise towards the top trend line.

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EURUSD moved sideways in a triangle pattern on its 4-hour chart. A breakout of the upper line of the pattern could take the price to 1.1600 area. On the downside, a breakdown below the bottom support line would indicate that the downtrend from 1.1815 (Sep 24 high) has resumed, then next target would be at 1.1100 area.

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chart?q=CURRENCY:EURUSD&chst=vkc&tkr=1&c
EUR USD

The Euro is up against the US Dollar on Friday.

EUR / USD was up 0.29% and 2128 were up at 1.1411.

The pair was likely to find support at 1.1309, the Wednesday low; 1,1423 was determined as the highest resistance level of the day.

Edited by ertankutlu
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