EURUSD Day Trades – March 12

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

EURUSD Day Trades – March 12

A trending morning for the EURUSD which provided a couple opportunities I liked. The first came in the London session prior the US open.

Usually I use a 1-minute chart, but a quick look at the 5-minute chart convinced me I should use it today, as the entry points were a bit cleaner. On the 1-minute chart the price was “riding” my envelope lines (envelopes introduced here), whereas the 5-minute bars were touching the lines and bouncing off. Since the entry prices will vary on the different time frames, I will always opt to trade the time frame that is “respecting” my indicator(s) to a higher degree.

The first trade occurred when the price reached my lower envelope during an uptrend. At this point all signs were “Go” for the long as we were making higher highs and higher lows. Used a 3.5 pip stop, and a Fibonacci Extension tool to provide some possible targets.

I originally planned on using the 100 level to take profit, but when the price failed to reach it on the first rally, and then pulled back, this created a triangle pattern and another opportunity to go long at my envelope (as well as the rising trendline).

1. EURUSD 5 Minute Chart

Since the price was still making higher lows, I moved up my stop from the first position to just below the second entry. When the price broke above the top of the triangle I edged my target up to the 138.2 level (check mark). The price did continue to run, but there was some whipsaw like action within the 5-minute bar I got out on, so given the price action prior (rather sedate) it was a good exit. The profit was about 7 times my original risk, and with two positions there’s no need to get greedy.

The next trade came on the pull back after the strong run up. The pullback was fairly strong so I waited for a price to pause before I entered at the lower envelope. By “pause” I mean I waited for bar that first touch the envelope to complete, and then let the next bar complete as well. Since the price was still at my envelope that was enough confirmation for me to go long, since the pause alleviated some of the potential that the price was going to blow right through me and keep dropping.

2. EURUSD 5 Minute Chart

3.5 pip stop again, which managed to hold through another small pullback. The price then popped higher, but was quickly met by selling, well below the former high. Based on the deep pullback and hesitation to move higher well below a former high, I opted to pull out of the trade. This resulted in a tiny profit on this trade.

There is a fine line between being too aggressive and being too conservative. Your trading method should help you find that balance. Being patient enough to wait for good entries, take more profit when the market is offering it and being able to take a small profit or loss when there is evidence the tides are turning against you. As corny as it sounds, one of the best ways to maintain this balance is to analyze the market by talking out loud–stating your expectations, as well as voicing all other possibilities you see, and then deciding verbally how you will proceed with a trade, or why you have decided not take a trade. While in a trade, continue to talk, staying on top of changing market conditions so you can quickly adapt.

EURUSD Day Trades – March 12

Follow EURUSD Following EURUSD Unfollow EURUSD

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

EURUSD Forex Chart

Ideas

The price has broken a strong resistance line and is now moving up. I think the movement will continue to the resistance level of 1.114.

Please support this idea with LIKE if you find it useful. Price is inside of the Symmetrical Triangle. Overall we have a downtrend and the price is more likely to be rejected by Resistance Trenline, also Ichi Cloud resistance zone. In case we have a confirmed rejecteion we can initiate a short position. Also if there is a confirmed breakout of the Symmetrical.

We could see how the price rose after the breaking Triangle. It is in the next Triangle at the time and if it will cross the higher border we can open Buy to 1.09699. Potential profit will be 3 times bigger than the risk. Push like if you think this is a useful idea! Before to trade my ideas make your own analysis. Write your comments and questions here! Thanks.

Friends, please support my free works by clicking LIKE button. Reasons: – Price bounced from Support Level from yesterday idea – Support Level 1.0830 $ – Current resistance Level 1.0930 $ – I think price may continue to grow at least to resistance level – To open position only after setup which you trade – Always do your own research before opening positions and.

Following yesterday post, long bias remain intake as long as price traded above 1.0800 region. Link to my yesterday ideas attach below. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we.

Look for long trade upon the retest of the ascending trend line which align with the recent support and resistance level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage.

Hi traders! The price of the Euro will fall to its target, after it reaches a key level at around 1.08000, it will RESUME its GROWTH! selling in this case will not be particularly profitable. Good luck to you. If you liked this idea, please like and subscribe to my profile. This idea does not provide the financial advice.

You will learn the best place where we can trade EURUSD at low risk. Write in the comments all your questions and instruments analysis of which you want to see. Friends push the like button if you like the idea – that would be the best THANK YOU. Thank you for your support, I Love it.

Hi, today we are going to talk about EURUSD and its current landscape. We can observe at this timeframe, a confluence of technical factors, that entail a setup which might drive this asset to a new movement. The details of our analysis are highlighted in the chart above. Want to know more about our trades and ideas? Join the Traders Heaven today. Thank you for.

we can see continue upside move as per chart pattern. ThankYou

Line red SL Line black Entry Line Green TPS Enjoy the signals :)

Please support this idea with LIKE if you find it useful. Price formed a Descending Triangle. In case there is a confirmed breakout of the Horizontal Support zone, it will be a confirmation for the pattern and also the breakout of Ichi Cloud, so we can initiate a short position Thank you for reading this idea! Hope it’s been useful to you and some of us will.

We present EURUSD 1H chart today with lower degree wave counts and projected targets. After terminating potential Wave 2 around 1.0768 levels, EURUSD has managed to produce a lower degree impulse rally towards 1.0927 levels yesterday. Please note Wave 3 might be underway since 1.0768 levels and the recent rally could be labelled as wave i. The subsequent drop to.

Hello Traders , Buy now or from bottom of range in case price moves lower , we would like to stay long on eurusd till price is not making new lows. In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your.

Buy EU now 1.087 TP1: 1.094 TP2: 1.097 SL: 1.082

has retraced 61.8%. put in a lower high, overall trend remains bearish. TP before 1.272 Extention.

Something changed. For now this is my entry, stop and price projection back to 1.10. If the H4 closes lower I will be out and looking for the short trade but I just don’t see it right now. Good luck.

price closing in 1 hour above 1.087 is a good long zone. with stop loss below : 0.20% join my telegram channel : t.me twitter : twitter.com

Technicals

Profile

EUR USD (Euro / US Dollar)

The most traded currency pairs in the world are called “the Majors” and the EURUSD leads this group as the most traded pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999.

EURUSD Trades Higher as FOMC Cut Rates and Launched QE to Combat Coronavirus

The euro is third only to the yen and Swiss franc in terms of performance against the US dollar today. EURUSD is trading 0.71% higher after the FOMC slashed rates in an emergency meeting over the weekend. As of this writing, the currency pair is at 1.1093. Its technicals also suggest that there is still room to trade higher.

Ahead of its initial schedule which was supposed to be on Thursday, Fed Reserve Chairman Powell announced that rates would be at 0.00% yesterday. Along with this, the central bank will also be launching a $700 billion QE program in an effort to support the economy amid the coronavirus pandemic. This follows as the US now ranks 8th in terms of the most number of confirmed coronavirus cases at 3,774.

This news drew enough bids to EURUSD. Remember that unlike the Fed, the ECB did not cut rates in its last meeting. The narrowing interest-rate differential between the two central banks may help explain the uptick on the currency pair.

EURUSD Outlook

On the 4-hour time frame, we can see that EURUSD bounced off support at the 100 SMA on the daily time frame around 1.1060.

Don’t miss a beat! Follow us on Telegram and Twitter.

EURUSD, 4-hour chart

A closer look at the 1-hour chart suggests that buyers could be priming to push EURUSD higher. The currency pair has formed a double bottom chart pattern. In forex trading, this is considered as a bullish reversal chart pattern. It is characterized by a market getting rejected at a support level twice. For EURUSD, this price is 1.1060.

Before the currency can significantly rally, buyers will need to close above the confluence of resistance around 1.1220. For one, this price coincides with the neckline of the double bottom. Secondly, the area seems to align with resistance from the falling trend line (when you connect the highs of March 9 and March 12. If buyers can successfully sustain the rally on EURUSD beyond this resistance level, the next ceiling could be at 1.1325 where the currency pair topped on March 12.

On the other hand, reversal candlesticks around the neck line and trend line could mean that sellers are still in control. We may soon see EURUSD revisit last week’s lows at 1.1055.

EURUSD, 1-hour chart

More content

  • Follow me on Twitter.
  • Download our latest quarterly market outlook for our longer-term trade ideas.
  • Do you enjoy reading our updates? Become a member today and access all restricted content. It is free to join.
Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Like this post? Please share to your friends:
Binary Options: How To Start Trading
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: