EURUSD Strategies For August 29, 2016
This EURUSD Strategies will provide both the long and short term analysis, that will help the traders to have better trading ideas before starting their trading. Here we will show the market update of the past hour for today. The analysis will give the market update that which way the market will go.
EURUSD Levels For Position
This is a 4Hr chart, where the pair is on a bullish move after a long bearish move. Next great levels for position swing term, short at the red zone and long at the blue.
EURUSD Weekly Cycle Chart
Here in this chart the market is going downprice on its way to reach T1 zone and 1.10730 as T2 in extension only the break over the 1.1290 would cancel the bearish scenario and take us long.
Trading Leg 5 of the NAEWMC Trading Leg 5 is always tricky so watch the price action to predetermine your TP. I normally trade from the 61.8 Fib R of leg 3 to the 127.2 Fib Ext of leg 3 (this is the safe zone) Having said that I’m already long based on price action.
EURUSD Still Oversold
Breaking through todays low means aiming the next Support @1.1155 Although the ultra short term is bearish, the RSI signs a weak buying-signal or oversold Situation. 1.1230 is the Level to watch! Only above that Level, the momentum turns again bullish. Supports: 1.1175/1.113/1.1075/ 1.1045 Resists: 1.12/ 1.123/1.126/ 1.1294/1.135