EURUSD bouncing nicely, remain bullish

7 December, 2017

EURUSD bouncing nicely, remain bullish

Buy above 1.1805. Stop loss at 1.1749. Take profit at 1.1928.

Reason for the trading strategy (technically):

Price has touched our buying entry and bounced up nicely. We remain bullish above 1.1805 support (Fibonacci retracement, Fibonacci extension, horizontal overlap support, bullish divergence) for a push up to at least 1.1928 resistance (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).

Stochastic (34,3,1) is bouncing nicely off our 3.2% support and has good upside potential. We can also see bullish divergence vs price signalling that a reversal is impending.


Source link   Presented by Exness

The US dollar is stable

Last week, the US dollar strengthened against the basket of world currencies. On Friday, December 8, the US published an ambiguous report on the labor market...

USD Languishes

USD continues to languish at 8-week lows against many of its peers, as the markets are concerned over possible delays to the US Tax Reform Plan. Senator John Cornyn, the Senate...

EUR/USD now focused on 1.1880

EUR/USD was bid again yesterday, closing in on the high end of the range (1.1479 -1.1880) we have been looking for the cross to stay within ahead...


Pair could rebound to 1.25 in 2018

Dips in EUR/USD could occur near term as the risk of USD support from a US tax reform and the relative cyclical position and policy cycle remain...

EUR/USD retreats from weekly tops

The EUR/USD pair finally broke down of its Asian consolidative phase and touched a session low level of 1.1623 in the past hour, albeit quickly...

EUR/USD leaps to fresh tops

The pair quickly climbed to fresh 4-day tops in the 1.1640 area, as market participants remain sceptics about the US tax reform proposed...


The pair is still neutral

Bulls tried to leave the current range, however, sellers quickly stopped them. The morning brought a bout of fresh bearishness sending the common...

EUR/USD downside alleviated

This morning’s data reports from the Eurozone highlighted the fundamental challenges for the economy in a nutshell. Eurozone GDP rose...

Pair is trading above 1.1600 mark

It's still under pressure following the results of the ECB meeting on monetary policy. The pair may correct upwards, but in all likelihood, it will continue falling...

  


Share: