This whole week was crazy, and we only have one day left for trading. However the good news is that we have a good opportunity to short EURUSD.
I have to clarify something here. As a trader, we can not do the forecast, but we could know the trend based on the historical data.
There are some solid reasons that we should sell this pair: (and these are all facts you could see on the graph)
1. On W1, we could draw the downward wedge shape, and the price is in a downward trend for W1 time series.
2. On D1, we know the price just hit the upper bond of BOLL indicator.
3. On D1, we know there are two long upper shadow candles completed.
4. No power to break up, although we know latest US GDP is bad and also they will not raise the interest rates in 2019 or probably decrease the interest rates in 2020. However, for a trader the real goal is to make real money in the market, not write these useless predictions. So these long-term fiscal policies will not show the effects soon. The price for EURUSD may not break down the last low, but it should get lower comparing the recent price.
5. On H4, it is clearly get reversed, because of BOLL indicator and Dow theory. The people who did not have the position in it should sell this pair when the price get retreat which means the price hit the upper bond of BOLL indicator.
6. There are some important price levels we should pay attention. (1.13614, 1.13343, 1.12841, 1.12207, 1.12207, 1.11752) The price may get reversed and switches to upward trend any time, so we should be careful.
This whole trade period is based on D1, so should look the D1 graph and analysis with H4 and W1.
Good luck for us!
I have to clarify something here. As a trader, we can not do the forecast, but we could know the trend based on the historical data.
There are some solid reasons that we should sell this pair: (and these are all facts you could see on the graph)
1. On W1, we could draw the downward wedge shape, and the price is in a downward trend for W1 time series.
2. On D1, we know the price just hit the upper bond of BOLL indicator.
3. On D1, we know there are two long upper shadow candles completed.
4. No power to break up, although we know latest US GDP is bad and also they will not raise the interest rates in 2019 or probably decrease the interest rates in 2020. However, for a trader the real goal is to make real money in the market, not write these useless predictions. So these long-term fiscal policies will not show the effects soon. The price for EURUSD may not break down the last low, but it should get lower comparing the recent price.
5. On H4, it is clearly get reversed, because of BOLL indicator and Dow theory. The people who did not have the position in it should sell this pair when the price get retreat which means the price hit the upper bond of BOLL indicator.
6. There are some important price levels we should pay attention. (1.13614, 1.13343, 1.12841, 1.12207, 1.12207, 1.11752) The price may get reversed and switches to upward trend any time, so we should be careful.
This whole trade period is based on D1, so should look the D1 graph and analysis with H4 and W1.
Good luck for us!
If you have profits right now, could close the position and wait for the opportunity.