Will EUR/USD reach 1.17?

Will EUR/USD reach 1.17?

2019-11-11 • Updated

Recommendation:

BUY 1.1540

SL 1.1485

TP1 1.1640 TP2 1.1695 TP3 1.1755

On the daily chart, EUR/USD bulls are trying to keep the pair above 1.1445 (50% of the long-term bullish wave). If they succeed, the pair will get a chance to form a senior “Shark” pattern. On the other hand, a break of support and the following decline to August low will trigger AB=CD with the target at 200%.

EURUSD daily.png  

On H1, if EUR/USD exits the downtrend channel and tests resistance at 1.1540, bulls will be able to counterattack and form “Three Indians” pattern and the “Shark”.

EURUSD h1.png

Similar

TRADE IDEA: What's Next for Yen Crosses?
TRADE IDEA: What's Next for Yen Crosses?

The views here are solely based on Technical Analysis techniques using my personal Smart Money approach. Hence, it is important to understand that the trading of CFDs comes at a risk; if not properly managed, you may lose all of your trading capital. To avoid costly mistakes while you look to trade these opportunities, be sure to do your own due diligence and manage your risk appropriately.

TRADE IDEA: BREAKDOWN OF MAJOR PAIRS
TRADE IDEA: BREAKDOWN OF MAJOR PAIRS

Even though we've only witnessed sluggish movements from the Dollar over the past few weeks, the general idea and bias still seem intact and untampered. The bullish impulse however can be seen as "searching for support".

TRADE IDEA: EURUSD, AUDUSD, and GBPUSD
TRADE IDEA: EURUSD, AUDUSD, and GBPUSD

As I earlier indicated in my article this week, I am expecting an upward push from the Dollar as a reaction from the Demand zone I have marked out. The PPI release earlier moved prices a bit but lacked sufficient momentum to cause a significant break of structure - and thus, no change of trend.

Latest news

TRADE IDEA: GOLD BREAKDOWN
TRADE IDEA: GOLD BREAKDOWN

A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone

TRADE IDEA: IS THE US DOLLAR'S STRUGGLE OVER YET?
TRADE IDEA: IS THE US DOLLAR'S STRUGGLE OVER YET?

The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.

TRADE IDEA: IS THE FUTURE OF GOLD CLEAR YET?
TRADE IDEA: IS THE FUTURE OF GOLD CLEAR YET?

For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera