EUR/USD Analysis for Week 28
Güncellendi
DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".
This week I tried taking a few trades on this pair and not with any good results. Didn't completely loose all my profits for the week but I came through only with .59% this week because of this pair. So here we go lets try and make sense off all this noise. To me EUR/USD seems to be one of the most volatile pairs, so making sense of it all will be a challenge I hope to conquer.
Background:
So I want to try and use the USD Index chart as a tool to help me see a bigger picture as to what the dollar is doing. What we see here is that the dollar has been dropping and has reached a support area from April 29th and May 2nd of 2016 of 92.53. The price retraced and hit resistance around 94.12 and keeps rejecting it on the daily chart.
Daily:
Ok so as we saw in the USDX chart the USD dropping means EUR/USD comes up. Euro gaining strength and Dollar weakening. But it seems to have peaked at 1.19103.
4hr:
Lets take a look at the 4hr. Here we see a little better how the price has retraced after its peak at 1.19103. I've drawn a descending trendline showing its lower lows. But the important support level is at 1.16889. Where we see that this past week the price was unable to break. And also where I lost some money. The last move that the pair did was up to the trendline and to a resistance area I have drawn at 1.17723.
So what I will look for this week is for the price to break out of that box between 1.16889 and 1.17723. I think thats about it for this pair. It's still hard for me to get my head around this pair seeings as how its high volatility but as I said its a pair I need to master.
This week I tried taking a few trades on this pair and not with any good results. Didn't completely loose all my profits for the week but I came through only with .59% this week because of this pair. So here we go lets try and make sense off all this noise. To me EUR/USD seems to be one of the most volatile pairs, so making sense of it all will be a challenge I hope to conquer.
Background:
So I want to try and use the USD Index chart as a tool to help me see a bigger picture as to what the dollar is doing. What we see here is that the dollar has been dropping and has reached a support area from April 29th and May 2nd of 2016 of 92.53. The price retraced and hit resistance around 94.12 and keeps rejecting it on the daily chart.
Daily:
Ok so as we saw in the USDX chart the USD dropping means EUR/USD comes up. Euro gaining strength and Dollar weakening. But it seems to have peaked at 1.19103.
4hr:
Lets take a look at the 4hr. Here we see a little better how the price has retraced after its peak at 1.19103. I've drawn a descending trendline showing its lower lows. But the important support level is at 1.16889. Where we see that this past week the price was unable to break. And also where I lost some money. The last move that the pair did was up to the trendline and to a resistance area I have drawn at 1.17723.
So what I will look for this week is for the price to break out of that box between 1.16889 and 1.17723. I think thats about it for this pair. It's still hard for me to get my head around this pair seeings as how its high volatility but as I said its a pair I need to master.
Not
Hi everyone, so the price . finally broke out of that box it seemed to be in. I had drawn a small ascending trendline that the price seemed to have been following. I felt that the price was just not going to make lower lows because of that trendline. So here is where I left it yesterday at the blue vertical line:It seemed like a strong buy seening that the price was following that ascending trenline. And here is how I woke up to it this morning and what its done til' now:
What I think was maybe a lack of confidence that resulted from several loosing trades with this pair.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.