Thread: Discuss all about FX open

EU can find several supports, meanwhile face pressure to downward. So the trend is still unclear. Wait for a time is a better choice.

primarylogi, I am waiting too, I think it is the data Non-farm Payrolls really working now

E/U H4 charting analysis
buy 1.2880 , SL 1.2810 , T/P 1.3200

EUR/USD has some rally at present, but it met resistance at 1.2990. Subsequently it found support at 1.2875. If it has further broken up, it will continue the uptrend.

EU is already in 1.2970-1.2990 area, do not long it at this area, I prefer to short it at 1.2990, and scalping some pips profits

Originally Posted by TaoJin88

EU is already in 1.2970-1.2990 area, do not long it at this area, I prefer to short it at 1.2990, and scalping some pips profits

I made 2 order at 1.2885 yesterday, one closed at 1.3050, the other is floating -10 pips now.

EURUSD Outlook
The EURUSD didn’t make a significant movement yesterday. The pair attempted to push higher, hit my first long target at 1.3070, topped at 1.3093 but closed lower at 1.3000. On hourly chart we can see that the pair failed to move above 61.8 Fib retracement and then Dollar regained some strength. The pair is now testing the minor bullish channel and 38.2 % Fib retracement at the same time around 1.2950 area. Break below that level could trigger further bearish scenario testing 1.2700 support area once again. CCI just cross the 100 line down on 4h chart suggesting a potential downside pressure.

EUR/USD has a strong resistance at 1.4950. It is difficult to rise above 1.3050 again. So it is better not to long it at a relative high level.

If EU can't break out 1.2700, I think we can long E/U when it drop to low level, but don't hold it for too long time.
Now E/U shake from 1.28 to 1.31.

The market predicts that ECB will cut their rates 50 base points. EUR/USD still faces strong resistance at 1.3070/90.