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I have being seeing what the EURUSD is doing of late, and I can only be cautioning at this point in time. I now see a good point of 1.1354 on my 4 hours time frame, this will be my noted level for today, and it seems the market will be bullish this day. Well, I will be looking for a market breakout from 1.1354 upwards, if that happened and the market could stay above that level for a while, I will make my buy entry with EURUSD today
cozard007's Blog
DAY 2: USDJPY IS RISING
USDJPY has being rising since about 2 months till this time, the pair was so sluggish in its rising last week, and it is still maintaining its overall bullishness. I will be buying more of this asset this week, I will buy if the market is unable to break below the support level of 113.00. That point is now the gauge for me which demarcates between the bullish side and the bearish side.
DAY 1: EURUSD IS BEARISH
It was real drama last week for EURUSD, the pair tried as much as possible to reclaim the strong level of 1.1377, but it was shortlived by the strong power of USD across the market board, that was why we saw a close below 1.1320 level. I will be looking for more selloff of EURUSD next week, and what we see on the monthly chart is important in determining what the market will eventually do before the end of this year.
DAY 1: GBPUSD WILL FALL FURTHER
It seems that the market is still dramatizing at this point in time, and I think that most traders would have fallen for the current bullish movements on GBPUSD, but this will not last for too long, because the general trend of the pair is bearish still. I expect a bullish retracement after which the pair hit around 1.2697 last week, now I expect the bullish momentum to be halted at most around 1.2951 resistance level.
DAY 1: EURUSD IS BEARISH
One can tell from the sharp fall on EURUSD yesterday that the upside is not accommodative to EURUSD, that is why the pair will try to rise and fall back with heavy movement. Also, with the nature of my trendline analysis, if EURUSD could break below 1.1662 successfully today, the pair will touch 1.1585 before the end of tomorrow's trading. If broken again, it is going to be a free fall for EURUSD.
DAY 9: EURUSD IS APPROACHING 1.1800
There is a gradual improvement on the bouncing back of EURUSD. The pair start the week well, and it has successfully claimed higher than 1.1738. I expect the pair to trade higher, and a successful market close above 1.1741 today is the first sign for me to know that the pair has successfully gained its power. Therefore, it will launch a massive attack beyond 1.1800 resistance level, and target 1.1911 pretty soon.
DAY 8: EURJPY WILL MAKE IT UP
With the new trading week coming, I think EURJPY will make it up. Although, the overall structure of the pair is bullish, but it found a very hard time to rise convincingly last week, and I am hopeful that this week trading would be better. I am banking on the support levels level at 128.87, if this point could hold, then there would be no much threat to the bullish pair, and EURJPY should be able to target hit 130.62 before Thursday this week.
DAY 6: EURUSD IS MAKING IT UP
There was a lot of challenges for EURUSD in the beginning of this week, it will try to buy for a while, but some bearish forces would pull it back to the downside. However, it is plain that the pair is heading upwards for a greater challenge, it has made a convincing breakout to the upside, and it is staying well above the support level at 1.1698. This should support the pair to target the much anticipated resistance level at 1.1856 in the coming week.
DAY 5: GBPJPY IS RANGING
Although, I am in the GBPJPY trade since on Monday, but with all indication, the pair is ranging at this point in time. I will still maintain my bullish view on this pair, because the price action pattern on it is still bullishly valid till now, and I intend to follow it till it vanishes. Also, it has successfully broken above 145.89 level, this is another strong indication that it will rise further this week.
DAY 4: EURAUD WILL CLIMB FURTHER
It's important to note that the bullish nature of EURAUD is still very intact, and any retracing movement we experience now is to be treated as breath taking condition of the market at this point in time. However, the pair has successfully broken back above 1.5776 level that was a resistance level in couple of hours ago, this is a strong indication that the pair will target 1.5901 very soon.