General EURUSD Chart Analysis

[Frano Grgić]

We had EURUSD making a bullish candle on the confluence support area right at the start of the week.

As I said in the previous week EURUSD forecast the support $1.21793 was the support that holds the price from falling down.

We can expect the price to reach a confluence level of support and from there move up. The $1.22845 is the resistance that will be harder to break above.

When that happens the price will have $1.24000 level as a harder level before it reaches $1.25000

 

[Frano Grgić]

this eurusd is the most volatile currency of all currency.

The most volatile pair I have researched is visible on the graph below. One that is not visible on that graph, but it is below the first one is XAUUSD. Gold. He is the most volatile pair I have seen up to now.



XAUUSD

 

[Frano Grgić]

The return inside range was strong. Two large bearish candles have wiped two weeks’ bulls’ work.

The price stopped at the support level $1.21793.

That level is the previous confluence of support which is now preventing the price from falling down.

If the price does not close below $1.21600 it could stay inside the range between $1.21793 and $1.22845.

 

[Frano Grgić]

Strong bearish candles last week was a sign of bears strength and that has been confirmed on Monday.
The price has fallen down to $1.21500 which was a sign that the price will move down and by end of the week the price reached $1.20800.

$1.20800 is a support level that held the price from falling down in the strong bullish move in December 2020.

We will see the price bouncing up from this level.

 

[Frano Grgić]

Last week I pointed out the price could reach $1.20800 level and bounce back to $1.21793.

The price reached $1.20800 and bounced on Monday back up.

For the next week I am waiting for the price to make a move.

If the price closes on a daily basis above $1.21793 I am expecting to reach $1.22700 level where it could find resistance.

 

[Frano Grgić]

This week the price has made a bounce down to the first support at $1.20800.
The price took three days to reach the support which means bulls were strong enough to hold the price on the upper side.

In the next week I am expecting the price to break out fromt this small range.
If that happens and the price closes above $1.21793 on a daily basis the price will move towards the $1.22845 level.

 

[Aymany]

The most volatile pair I have researched is visible on the graph below. One that is not visible on that graph, but it is below the first one is XAUUSD. Gold. He is the most volatile pair I have seen up to now.
View attachment 14124


XAUUSD
View attachment 14125

gold is great all the week

 

[Frano Grgić]

The market has changed its direction and price managed to break below uptrend channel.
The price has broken even below first support $1.20000 which did not show too much strength.

The price could find resistance at the confluence of resistance around $1.20800.

From there the price could move down to $1.20000 to try breaking again down.

 

[KrakenTrading]

Excellent !Thank you for the quality advices ! I will bookmark this post for my futures trades....just started few weeks ago

 

[Frano Grgić]

The price managed to return back into area between $1.20800 and $1.21793 leves.

It is an area where the price has been around since December.

In the next week I will wait for the price to define where it will move for the next few weeks.

If the price close above $1.21793 level I will look for bullish signals on retrace.

 

[KrakenTrading]

gold is great all the week

I just read there is a strategy of buying Gold every Thursday evening and Selling it on Friday before market closure. Will try this week

 

[nubile]

good job! its a perfect analysis and will go to target

 

[timmy5001998]

great work thankyou, its nice to see someone els their strategy

 

[Frano Grgić]

This week has shown indecision in the market where the first few days the price did not show clean direction.

With the support of bullish traders the price has changed the direction and ended the week above $1.20800.

If the price could close above the $1.21280 price it would mean the buyers have succeeded to break above the wall that is preventing the price from moving up.

 

[Frano Grgić]

The price has managed to break higher this week, but the break was short lasting.
In the previous week analysis I have said that if the price manages to break above $1.21280 we could see it moving higher

What I am looking now is for a bullish price action signal on the $1.20800 support level that will prevent the price from moving down and which will make a base for future move up.

Strong selling pressure on the $1.21793 level shows me that it is an area where bears are not allowing the price easily to break above.

 

[Frano Grgić]

We can see the price has reached $1.20000 on Tuesday and made a retrace which was just bears getting out and cashing profits.

The price could find a support at $1.19000 level which will allow the price to move up.

Current market formation does not look so bullish so I am more inclined to sell the pair on the retrace at around $1.20800 and $1.20000.

 

[paddymiasky]

Thanks, I will take a look.

yes, its a good strategy but counting levels could be very difficult sometime but with the entry magnify, trading BTMM becomes easy

 

[paddymiasky]

EURUSD had bull run just in few four hour sessions where the price have reached resistance level.
That level is hard to break up and price formed two bearish Pinbar.

Daily time frame is showing bearish Pinbar. All those signals suggest we could see price moving down to the range area support level.
View attachment 7943

Dont know if this chart up there is recent but from my analysis , using btmm strategy, i am getting a sell for monday. thats my opinion though.

 

[Frano Grgić]

The pair is in the indecision area because strong support $1.19000 has held the price from moving below and $1.20000 has held the price from moving up.

If the price comes back again to $1.20000 and makes a bearish price action signal it will be a sign the price will move down below $1.19000 support.

That will open the road to $1.17000 which is the lower end of the previous range area from the end of the last year.

 

[Frano Grgić]

What we can see from the start of the week is that the price has moved to $1.19037 and from there reversed back up next to resistance level at $1.20000.

From there the price returned back down and ended the week with the close right on the support level.

I am still bearish oriented because the price is returning back to support level at $1.19037. It means the selling pressure is strong and eventually will break down.