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 & Fundamental Analysis on one of the Most traded pairs
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="Avinash, post: 26534, member: 14722"] [IMG]http://i39.tinypic.com/2h34ytu.png[/IMG] Attached is the hourly chart for the EURUSD recognizing the short term trends on an intra-day basis from 27th February to 12th of March. Between 27th-29th February, you can see that the market has been in an uptrend bouncing within the trenline (indicated by the greenlines). On 29th February the Euro trend was broken as it broke the uptrend channel and EURUSD fell from 1.3420 to 1.3314. Between 29th February-2nd March, EURUSD was moving in a downtrend channel (inidcated by the redlines). The Euro eventually broke the downtrend channel to create further lows to a low of 1.3185 which appeared on 2nd March. This level became a key level for the following day as a support level. Between 6th March-12th March, Euro was moving in a downtrend channel (indicated by the yellow gold lines) from 6th of March. On 8th of March, you can see a big breakout appeared breaking the yellow lines from 1.3156 to 1.3290 which was also moving in an uptrend steeper channel between 7th March to 9th March. On 9th March, the uptrend channel had a major breakout breaking the green trend line from approx. 1.3234 to a low of 1.3083. Apparently Euro had to enter in the same downtrend channel line (indicated by the yellow lines). Indications- Euro currently following on a downtrend channel line indicates the market is bearish at the moment. Trading can either take place bouncing from the lines to go for counter position or breaking the line for continuing either an uptrend or down trend. Red & Blue lines are The Moving Average of 2 different periods for intra day trends. If EURUSD is above both the lines this will indicate an uptrend (long/buying position) and if the EURUSD is below both the lines will indicate the downtrend (short/selling position) EURUSD Resistance and Support Levels. R1 / 1.3155 R2 / 1.3185 R3 / 1.3220 S1 / 1.3100 S2 / 1.3075 S3 / 1.3000 [/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…