RSI is in overbought conditions and H4 is showing RSI divergence when price made a higher high. An immediate target is 1.10750 with extension to 1.10420. This is a short term target as another rise to 1.1180 may occur afterwards where we can consider selling towards 1.09 (which is a long term target).
EURUSD
EURUSD
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Market has given a couple of hours for all sellers to put their positions in place and now we are slowly sliding down. Day traders can take partial profits now as well.
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Eur/Usd has hit 1.118 resistance retreated. H4 RSI divergence should allow the price to start going down pretty soon. I do not expect this today but rather by mid next week.
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1.118 resistance rejected the price and we are sliding down further even faster than expected. 1.108-1.107 support should stop the fall initially and that is another place to take partial profits.
1.105 should be strong enough to make a good bounce up again to 1.114-1.117 resistance for a further fall down. We had a very good profit selling the last two days and if you are a short term trader - now is a good time to close positions and look for a new entry higher next week.
1.105 should be strong enough to make a good bounce up again to 1.114-1.117 resistance for a further fall down. We had a very good profit selling the last two days and if you are a short term trader - now is a good time to close positions and look for a new entry higher next week.
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1.118-1.12 resistance area has rejected the price multiple time and is slowly going down. We are still within 1.1111 - 1.118 range (buy at the bottom, sell at the top) and that is a short term scalping range.
I am still committed to see 1.1075 support being touched with 1.105 in extension which should provide a quick bounce up.
On a short term horizon - breaking 1.12 - will move the price higher, breaking 1.11 - will make it go down with just temporary pullbacks and a final target of 1.09
Currently situation is very simple - I will hold my shorts until they close and if price breaks 1.12 - i will only observe price action with a possible sell at 1.1215 and 1.125.
I am still committed to see 1.1075 support being touched with 1.105 in extension which should provide a quick bounce up.
On a short term horizon - breaking 1.12 - will move the price higher, breaking 1.11 - will make it go down with just temporary pullbacks and a final target of 1.09
Currently situation is very simple - I will hold my shorts until they close and if price breaks 1.12 - i will only observe price action with a possible sell at 1.1215 and 1.125.
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1.1111 support is holding and DXY is actually trying to get back above the broken trendline. Currently it is still below the trendline and since 1.1111 has not been broken - we could see the price going up tomorrow if it holds.
1.118-1.12 is a sell spot for me.
Otherwise 1.108-1.1075 will be touched where MA200, MA100 awaits.
1.118-1.12 is a sell spot for me.
Otherwise 1.108-1.1075 will be touched where MA200, MA100 awaits.
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Partial profits can be taken again as we are close to target and we have high impact data coming in which may send price either way- to 1.117-1.12 or down to 1.107-1.104. Long term we are still on a bearish trend.
Trade stängt: målet nått:
TP 1.1075 has just been hit and we can go an enjoy a profitable week. Nothing much is expected until January and it may just be scalping days ahead with low volumes. I wish everyone Merry Christmas and Profitable next year.