Master the IBWT pattern

Get it now (risk-free)

8 patterns that make up 98% of my PA income

Get it now (risk-free)

Learn the Scalping Secrets

Get it now (risk-free)

Read on Mobile Enter Reading Mode

EURUSD Trading Analysis

Posted on Mar 10th, 2019

by colibritrader

EURUSD Trading Analysis

@Colibritrader

Dear traders,

I shared with you my thoughts about DAX in my last trading analysis. So far, DAX started going lower but I am not 100% convinced that it won’t make another high before continuing its downtrend.

Friday’s daily candle is a bearish rejection candle or a pin bar. It formed just below the supply zone, which is another reason to be careful.

I am potentially looking for a 4H confirmation in the form of a bearish engulfing or an inverted pin bar.

So far, I did only spot a 3-candle bearish engulfing on the 4H from Friday.

The daily close is somehow rejecting this scenario and now leaves us to wait for another bearish confirmation or potentially a rejection.

EURUSD Trading Analysis

Today’s analysis brings my attention to EURUSD. As you can see from the screenshot, there was an inside day just above a demand zone. Not to mention that a major support level is in place, too.

These two bullish indicators are telling me that shortly we might experience more buyers joining the queue.

For now, I will be following the 4H chart for more bullish confirmations.

A possible scenario is price retracing slightly towards 1.1200 and then forming a bullish candlestick pattern.

I am currently waiting for such a confirmation or a rejection of that scenario.

Happy Sunday,

Colibri Trader

(Visited 764 time, 1 visit today)

Leave a Reply Cancel reply

Disclaimer: Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Colibri Trader Ltd, its employees, directors or fellow members. Futures, FOREX, CFDs, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures, FOREX and CFDs markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfd's, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.