EUR/USD Weekly Review

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Hello lovely readers,

The chart gives a breakdown of the future changes on EUR/USD for the coming days.

According to the Monthly graph, it is clear that the EUR/USD turned into a consolidation pattern, for long term traders, anywhere below 76.4% Fibonacci retracement could be treated as a buy zone while above 23.6% Fibonacci retracement is a sell zone, until there is clear indication of breakout. As can be seen from the Weekly chart, EUR/USD has formed a triangle, where at the moment indicates a rising expectation.

The most striking feature of this graph can be seen at the Daily chart, it is noticeable an down channel, there is a relative projected estimates for the EUR/USD test on 1.3486 resistance (gold rectangle area on the picture + MA 200).

As an overall using volume spread analysis we have: 

1. ShakeOut - Demand appears to be overcoming supply. 

2 & 3. No Demand - Low volume up bars, which is an unwillingness of the Market Makers to participate in a rising market because they know the market is still weak. Market makers are always moving prices around, and here they have marked the price up, but there is no following.

4. ShakeOut

5 & 6. No Demand

We can see that the market has signs of overall weakness in the range, supply appears to be overcoming demand. Low volume up bars shows no demand.

It is expected that the market test the 1.3486 area, when it happen it is possible to wait for a short entry, like a high volume up bar closing in the lows (pin bar) with high volume and higher high then the previous candles (new high for the range) - UpThurst - it will confirm the signs of weakness in the background.

What do you guys think about the EUR/USD?

Ciao !!!

EUR/USD short

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Hello boys and girls,

I know that has been a long time since I did my last post, but for those who are wondering if I am still trading the answer is yes. 

The chart above gives a idea of a sell trade that I did last week, if you click to enlarge the image you will find a lot of explanation about my analysis.

I placed two trades last week at the euro/dollar. The first trade was on 24/02 @ 1.34627 | S/L: 100 pips | T/P: 360 pips | Profit: 271.8 pips

The second trade I made on 29/02 @ 1.33894 | S/L: 100 pips | T/P: 290 pips | Profit: 198.3 pips

I had a main target for both trades, but I decided to close them manually on Monday when I noticed a possibility of demand starts to overcoming supply, since then it is clear that the market is "stuck" at the 1.31774 area. 

I hope to hear that you all are doing great and making a lot of pips.

Ciao !!!


Correction: "high volume on up bars can indicate that there has been professional SELLING hidden in the high volume"