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EURUSD: Fib.Analysis & Major Weekly Levels hey guys, EURUSD is now very volatile and easily breaks daily structure resistances. you may wonder when the market will stop. here just by the means of fibs. and structure I found key resistance clusters to look at. for drawing fib.levels I took major 2014-2015's bearish rally and 2017-2018's bullish rally. 1.16 - 1.18 is the first strong resistance cluster. it is based on a price action of 2015/2016/2017/2018 and fib. levels of the above-mentioned impulses. 1.21 - 1.22 is the second resistance cluster. it is based on a price action of 2017/2018 and fib.confluence of 0.5 and 0.786 1.245 - 1.26 is the third resistance cluster. it is based on a 5 year's high and 618 of the major leg. the market should at least stop within these levels and retracements will be highly probable. trade only with a confirmation on lower time frames.
Short
by VasilyTrader
19
EURUSD: Price Action & Scenario for Next Week EURUSD is trading within a rising parallel channel on 4H. the resistance of the channel was reached on Wednesday and the market set it's last higher high there. during the next two days the pair started to consolidate: with a sequence of three equal highs and two equal lows, the price is stuck in a narrow horizontal trading range. next week, with a high probability the price will retrace one more time from the horizontal resistance. then sellers will face with a buying pressure from a channel's and range's supports. consider this range for potential quick trades next week. to catch the next wave, I would suggest waiting for a violation of the range. we can not estimate how long the market will trade there, so it would be better to just wait. have a great weekend!!!
Short
by VasilyTrader
32
DOLLAR INDEX (DXY) Update & Important Decision Ahead!!! DXY is retesting summer's structure low. the price is currently consolidating within a narrow horizontal decision range. because the current trend is bearish, I am bearish biased on greenback. in case of a violation of the range to the downside, bearish rally will most likely continue. next goals will be: 95.4 - daily resistance 94.8 - year's low in case of a bullish violation of the range, USD may start recovering. 96.9 will be the first goal. for now it is hard to predict with high accuracy the next usd move, so let the market decide first and then just act accordingly.
TVC:DXYShort
by VasilyTrader
15
EURUSD: Year's High AHEAD!!! Key Levels & Scenarios EURUSD is approaching a key daily structure resistance. 1.15 is year's high, short rally from that level was just crazy in march. we don't know how the market will react this time, so we must be prepared for both scenarios: in case of a bullish violation of the underlined resistance (daily higher high higher close) the pair will most likely keep growing. next midterm resistances will be: 1.155 1.160 if the structure will be respected (some reversal formation on lower timeframes) the market may retrace. closest midterm supports will be: 1.137 1.130 of course, bias right now is bullish, but it is too late to jump in. let's patiently wait and see whats gonna happen.
Education
by VasilyTrader
18
USDCAD: Price Action & Trading Plan USDCAD is forming an inverted expanding triangle on 4H. the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test. yesterday the above-mentioned structure was reached again. the price has formed a bearish engulfing candle and was rejected. on 1H the price has formed a double top formation with a lower high, respecting a 1.3575 minor horizontal support. to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below), then I would sell on a retest. target levels: 1.354 1.351 safest stop will be above 1.361 or a new lower high in case of its formation. good luck
Short
by VasilyTrader
1
USDCAD: Price Action & Trading Plan USDCAD is forming an inverted expanding triangle on 4H. the price respects a horizontal 1.361 4H structure support with equal highs, setting new lower lows after each test. yesterday the above-mentioned structure was reached again. the price has formed a bearish engulfing candle and was rejected. on 1H the price has formed a double top formation with a lower high, respecting a 1.3575 minor horizontal support. to trade with confirmation, I would wait for a bearish violation of a minor horizontal support (1H candle close below), then I would sell on a retest. target levels: 1.354 1.351 safest stop will be above 1.361 or a new lower high in case of its formation. good luck
Short
by VasilyTrader
22
GBPUSD: Key Level, Reversal Signs & Candles hey guys, GBPUSD reached a key daily structure yesterday. the price has formed a perfect dodji candle on that and on 4H we see a strong bearish reaction with a bearish engulfing candle. the last resort for buyers is the support of the rising wedge pattern on 4H. in case of its bearish violation, the price may drop even lower. our trigger is 4H candle close below the wedge. target levels: 1.252 1.246 if the above-mentioned support is respected and the market sets new higher high higher close within the wedge, setups will be invalid.
Short
by VasilyTrader
11