C = 100% of A + divergence on the daily basis we broke up trend line, went through consolidation and looks like we have wave 1 forming (leading diagonal)
TP first 1.6 Manageable - we see how this first wave looks like
EURSGD trade ideas
Short EUR/SGDDaily:
Broke uptrend support at 1.63270
Currently re-testing the support turn resistance line
4H:
Reject prices at 1.6350 horizontal resistance line
Bearish rejection wicks.
Position: Short
Entry: 1.6285
Stop Loss: 1.6405
Target: 1.6045
Risk:Reward = 1:2
EUR/SGD: Exit-LongThe start of a correction is very likely after the completion of a Wave 5 bullish cycle. Weakness and divergence (weekly chart) is setting in just shy of the price projection at 1.6480. Dipping below 1.6190 signals the start of a correction back to 1.5870<>1.5790. Cover longs and/or enter short if your risk appetite allows for it.
Primary trend: neutral
Outlook: completion of impulse wave, negative
Strategy: exit-long, trading short-entry below 1.6190
Support: 1.6190 / 1.5870* / 1.5790
Resistance: 1.6340 / 1.6450
Outlook cancelled/neutralized above 1.6450
gartley + crab + finish Elliott 3 wave above + futureapril 2015 bottom - the end of the cycle in confluence with divergence. (the beggining of the new cycle)
we passed by 88.8 retrecment of the wave 1st and are half way of 3rd wave wich ends approx 161.8 retrecment of wave 1 and is close in confluence with 2 harmonic patternS and 100 fibo from Highest high in 2014 (ressistance)
on the daily we have Bat pattern on top of a crab XAA XDD (A point in confluence and D point) WHEN PATTERNS WILL BE FULLY FORMED SEEMS LIKE A GREAT SPOT TO GET INTO THE TRADE
EURSGD long term long opportunityA buying opportunity has surfaced on the exotic pair EURSGD.
Monthly has upward momentum while an uptrend is on the Weekly.
Daily in a downtrend indicating correction period for price to drop to weekly demand level.
Expecting long order triggered on the demand level nested within Weekly demand level.
If you are applying Supply & Demand methodology in your trading plan, or mere interest,
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Eur Sgd stay or go Price broke above this s/r zone to the upside and already retested it from above as you can see.
Iam looking for a short if price can break the zone and gives me a close below .
My target for the short trade would be the rising trendline .
If we arrive at the TL i wil look for:
A) break and further downside move
B) rejection and and a move to the s/r zone to the upside
Long scenario
The s/r zone gives support to the price and pushes it back up again.
I would like to see abreak of the small resistance here before thinking of a long trade in daily chart.
EUR/SGD 1H Chart: Senior channel unlikely to holdThe Euro has been appreciating against the Singapore Dollar in a two-month ascending channel. On February 2, the pair reversed from the monthly R1 at 1.6443— which is also a 2016/2018 high— and began edging lower in a new short-term wave down.
As apparent on the chart, the pair bounced off the weekly PP today and fell sharply past the 100– and 200-hour SMAs near 1.6322. If the bearish sentiment continues to dominate the market within the following hours, traders could see a breakout south from the senior channel and a subsequent price decline down to the monthly PP at 1.6174.
On the other hand, the Euro might try to regain some lost positions after today’s fall and thus find support at the weekly S1 and the senior channel circa 1.6250. Upside potential in this scenario could be the 1.6443 mark. The rate’s subsequent movement should nevertheless be south.
EUR/SGD 1H Chart: Euro appreciates in short termThe common European currency is trading in a channel down against the Singapore Dollar. The upper boundary of this pattern was tested mid-November after which the Euro initiated a new wave down.
This gradual decrease in value, however, was disrupted near the 1.5870 mark when the Euro reversed to the upside once again. Along the way, the pair managed to surpass the 55-, 100– and 200-hour SMAs and the weekly PP.
Technical indicators suggest that this could be just a minor correction against the general down-trend and the pair should eventually resume its movement south. This assumption is in line with the senior pattern. A possible downside target could be the monthly S1 near the 1.5751 mark.
On the other hand, in case of a continuous movement south, the Euro might halt near the monthly R1 at 1.6035.
EUR/SGD 1H Chart: Channel boundary holdsThe common European currency has been trading in a downward-sloping channel against the Singapore Dollar for the last two months. The second bottom confirmation was provided late on Friday when the rate bounced off the 1.5828 mark.
The massive plunge that began on October 26 sent technical indicators in the strongly bearish and oversold territory. These signals are gradually recovering, thus pointing to a possible upward momentum—a move that would once again demonstrate the strength of the descending channel.
However, the Euro faces a significant resistance area set by the weekly PP and R1, the monthly S1 and the 55-, 100– and 200-hour SMAs in the 1.5913/1.6022 territory.
It is likely that the rate hinders near this area or even trades lower prior to breaching it during the second half of this trading week.
EUR/SGD 1H Chart: Soon breakout from channelThe Euro against the Singaporean Dollar has been trading in a channel down for the past seven weeks. The last up-wave was initiated late in September when the rate bounced off the monthly S1 at 1.5940. The subsequent gradual appreciation resulted in the formation of a channel up.
Given the characteristics of the senior pattern, it is likely that the Euro tries to push for its bottom boundary in the 1.5800/1.5850 area in the medium term. However, technical indicators suggest that there is still some upside potential that could be realised either today or next week.
By and large, the daily time-frame demonstrates that this movement downwards might be just a correction towards the general up-trend. Thus, medium-term appreciation could be expected, especially if the rate fails to breach the weekly PP and the 200-hour SMA at 1.6001.
Eur Sgd SHS keep ya eyes open for a neckline break of that SHS pattern..if we see a nice break n close there is no reason why you shouldnt enter short
EUR/SGD heads to south at 1.5960EUR/SGD 4H Chart: Channel Down
The common European currency is losing value against the Singapore Dollar in one month long descending channel whose formation represents a rebound of the pair from the upper trend-line of a preceding ascending channel.
The short-term target for rate is expected to be an intersection of the monthly S1 at 1.5959 and the bottom edge of the pattern. Due to the fact that the channel consists of four confirmation points, the pair theoretically could break to the bottom.
However, a rebound most likely is going to follow. But even in that case the surge might be hampered by the slipping 55-, 100- and 200-hour moving averages.
EUR/SGD 1H Chart: PennantEUR/SGD 1H Chart: Pennant
The common European currency is advancing against the Singapore Dollar in a little pennant pattern that formed in the result of announcement of information on the US CPI last Friday.
Since the pair is moving in a continuation pattern, then breakout is expected to occur in the northern direction.
The length of the subsequent rise might amount to 50-60 basis points, which coincides with the updated weekly R1 located at the 1.6155 level.
This scenario is additionally supported by the pressure exercised by the 20- and 200-hour SMAs as well as the 55- and 100-hour SMAs plus the weekly PP at 1.6052.
Moreover, 71% of traders hold bullish positions on the given currency pair, while 65% of pending orders in 100-pips range are set to buy .
