EUR/USD in a Daily Cup and handle breakout pattern!
Hey, I am back yet with another Forex Analysis.
Today I have decided to take a better look at EUR/USD, because part of me really want's to short it as it's in strong resistance area.
But! The price in this area is really stable and still showing some bull signs, so I have decided to long this pair as I have spotted it, in clear Cup and handle bullish breakout pattern.
Also I was looking at EXY and DXY, EXY is in a strong uptrend, and DXY is barely holding now on good known support area, which makes me pretty bearish on overall USD pairs.
Some more bull signs on the chart
- The RSI is above 60, which is for me range where the moves bull moves start to happen.
- MACD has started a buying wave in buying territory.
- Daily Golden cross
How to trade this?
Entry -1.14000 - 1.14300
Take profit - Slightly below 1.15500 and 1.16100
That's a lot of pips to be made!
I know that more people would be looking to short this pair, but I don't see here a reason to go against the trend, even though I shorted EU succesfuly in this uptrend.
I will update this idea regularly if I see some good feedback!
Make sure to follow me in order to not miss out on my future regular setups.
If you found this setup useful, please don't forget to leave a like! 🙌
Today I have decided to take a better look at EUR/USD, because part of me really want's to short it as it's in strong resistance area.
But! The price in this area is really stable and still showing some bull signs, so I have decided to long this pair as I have spotted it, in clear Cup and handle bullish breakout pattern.
Also I was looking at EXY and DXY, EXY is in a strong uptrend, and DXY is barely holding now on good known support area, which makes me pretty bearish on overall USD pairs.
Some more bull signs on the chart
- The RSI is above 60, which is for me range where the moves bull moves start to happen.
- MACD has started a buying wave in buying territory.
- Daily Golden cross
How to trade this?
Entry -1.14000 - 1.14300
Take profit - Slightly below 1.15500 and 1.16100
That's a lot of pips to be made!
I know that more people would be looking to short this pair, but I don't see here a reason to go against the trend, even though I shorted EU succesfuly in this uptrend.
I will update this idea regularly if I see some good feedback!
Make sure to follow me in order to not miss out on my future regular setups.
If you found this setup useful, please don't forget to leave a like! 🙌
Komen:
5 min update, if you like these updates please let me know by hitting that agree button.
Price is in a bull flag, I am awaiting a RSI and MACD confirmation that can lead to a small leg up!
Komen:
Another 5 min update. Cup and handle in a cup and handle? That looks like a good confirmation to me haha.
Komen:
Uptrend line on 5 min is being tested, if broken, the breakout may be delayed.
Komen:
Move in 3..2..1..
Komen:
uptrend was broken, price found support at 5 min supp area, I am entering another long when downtrend is broken.