Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis EURUSD : 2018-12-06
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="IFC Markets, post: 156483, member: 18359"] [SIZE=5][B]Better than expected data support EURUSD[/B] [B][/B][/SIZE] Euro-zone producer prices and sales rose more than expected in October. Will the EURUSD recovery continue? Recent euro-zone economic data were better than expected: retail sales and producer prices rose more than expected in October. Retail sales rose 0.3% in October instead of 0.2% as expected. At the same time producer prices grew 0.8% instead of 0.5%. These positive surprises took place while Markit’s Composite PMI was revised slightly higher to 52.7 in November from a preliminary reading of 52.4, though it still slipped from 53.1 in October. Positive euro-zone data are bullish for EURUSD. [IMG]https://ifccd.net/uploads/image/EURUSD_O_6Dec2018.png[/IMG] On the daily timeframe [B]EURUSD: D1 [/B]breached above the resistance line but then retraced lower, and now is about to test it again. [LIST] [*]The [B]Donchian channel [/B]indicates downtrend : it is narrowing down. [*]The MACD indicator is below the signal line with the gap narrowing. This is a bullish signal. [/LIST] We believe the bullish momentum will continue after the price breaches above the resistance line. We can take a level above the upper Donchian boundary at 1.1433 as an entry point for placing a pending order to buy. The stop loss can be placed below the lower Donchian channel at 1.1266. After placing the pending order the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop-loss level (1.1266) without reaching the order (1.1433) we recommend cancelling the order: the market sustains internal changes which were not taken into account. [SIZE=5][B]Technical Analysis Summary[/B][/SIZE] [B]Position[/B] Buy [B]Buy Stop[/B] Above 1.1433 [B]Stop loss[/B] Below 1.1266 [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…