EUR/USD Viva la resistance

31 May 2017

With a retracement back to the 61.8% fib, I'm hoping EURUSD will bounce up to somewhere around the 1.1350 area. This would line up with the previous years test of resistance (Head and Shoulders) which I've highlighted with Yellow circles and as you can see we have no broken that level since then.

31 May 2017

İşlem aktif

Entered @ 1.12275
Target @ 1.13500
Stop @ 1.11639

1 Haz 2017

Not

Possible test of the MAs, if it does test either the 8 or 21 MA, I will expect a bullish move off of that. I don't expect to see any real movement until the London open.

1 Haz 2017

Not

1 Haz 2017

Not

As I suspected, we are getting a pull back to the MAs. I expect some further bearish movement before returning bullish.

Stops and Targets still standing.

3 Haz 2017

Not

My theory was correct, we had a bearish move down to the 21day MA before returning to the original bullish trend. Patience is key for me.

6 Haz 2017

Not

Still long on this one. Adjusted stop to 1.12010.

9 Haz 2017

Not

Adjusted my stop back to what it was in the start due to various news events. Almost got stopped out but I believe that this will continue it's previous bullish trend.

11 Haz 2017

İşlem elle kapatılmış

Closing out rather than letting it go all the way to the stop.