EURUSD Day Trades – December 18

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EURUSD Day Trades – December 18

Just a couple trades today during the early US session. There was a lot more opportunity but there is always another day. With it being an FOMC day, as the day progresses toward the announcement volatility usually tapers off and then explodes after the announcement. Therefore, I prefer to get in early on a couple good setups and then call it a day. Here are the trades from early in the US session today.

EURUSD Day Trades

The basic strategy used today was a fusion of the strategy first covered in Forex Day Trades – October 7 (with additional details in later day trading posts), as well as the “Simple as ABC” Trading Strategy.

Figure 1 shows the two long trades (technically 3 trades). Check marks indicate entry points, x’s indicate stop loss levels and the ‘thumbs up’ signal the profitable exit.

Figure 1. EURUSD 1 Minute Chart

Following a fairly sharp decline, there is an aggressive rally, slightly larger in magnitude than the prior drop. This indicates a potential change in direction. After the move higher the price goes sideways, signaling there is little selling pressure.

The check marks indicate the entry points. For the first trade a long was taken near the low of the sideways consolidation (a little more than a pip of risk) and another long as the price was breaking higher out of the sideways channel (about 4 pips of risk).

The’ thumbs up’ sign marks the profitable exit. On the first trade I was looking for a little more than this, but the aggressive bars had ceased and the market looked like it would pause again. Took about 5 pips profit on the second entry and close to 8 on the first entry.

A pullback did follow, setting up another long trade. This time only one entry was taken as the price broke higher out of the small pullback channel. The result– 3 pips of risk and a profit of just over 5 pips.

Opted to quit after those trades as the price was moving into an area of former highs, which could potentially provide some resistance. The price did pause near those former highs, and then burst through, so if another long trade was taken it would have been profitable, but I always prefer to trade less and take just the high probability trades.

I like trading these setups on a one minute chart, and based on the small movements I am capturing this is basically scalping. These patterns and setups occur on all timeframes though, so using a 5 or 15 minute chart (or even daily or weekly) you can still look for similar trade setups. If you pay more than a 1 pip spread on your forex trades, you’ll likely want to trade larger price swings, like what you’d see on a 5 or 15 minute chart. The idea behind the strategy is to isolate a strong impulse wave, wait for a pullback and then ride the next wave after the pullback completes.

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EURUSD Day Trades – December 18

Follow EURUSD Following EURUSD Unfollow EURUSD

EURUSD Forex Chart

Ideas

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.

Please support this idea with LIKE if you find it useful. We got tough resistance node 50 MA + Resistance Trendline + Ichi Cloud resistance zone and currently testing the Horizontal Support zone. In case there is a confirmed rejection of the Resistance node we can initiate a short position. Also if the Horizontal Support is broken we can initiate a short.

Hi friends, here my daily analytics for EUR/USD price. Reasons: – Price trades in Range – Support level 1.0780 – Resistance Level is 1.0830 – To open long if price will break resistance level – To open short if price will break support level – Always do your own research before opening positions and always put SL If you have your own opinion or thoughts about.

Hi everyone! It’s time to make an 11th forecast that will come true. The price continues to fall. A support line has recently been broken (which has now become a resistance line). The price is returning to this line and I expect a drop from this line to the bottom line of the falling channel. And I recommend everyone to buy EURUSD from this support line as the.

Friends, please support my free works by clicking LIKE button. Reasons: – Price exit from range upward – Support Level 1.0830 $ – Resistance Level 1.0930 $ – I think price may continue to grow after at the least small pullback – To open position only after setup which you trade – Always do your own research before opening positions and always put SL If you have.

Hello my friend! My idea for EURUSD EURUSD continues to fall. I recommend selling EURUSD on the resistance line and closing the deal on the lower line of the falling channel.

We are about to go through our worst week of COVID-19, therefor we will be strictly taking DEMO trades this week. This is my ideal set up for EURUSD, we should see reversal near Wednesday.

EURUSD has broken the Descending Channel and the 100H EMA as well. But, this is too early to confirm a change in trend. If the price falls below the 1.0860 level, bears will be back in action. However, a sustained break above the 100 hour EMA might indicate a change of trend in the near term. Either way, traders must wait and maintain a cautious approach now to.

Watch lower time frame correction and buy on Breakout. ThankYOu

Hello Traders , Price has been rejected from 0.618 retracement level , and is moving lower to test previous lows , which suggests that Bearish trend can continue in coming days and price has potential to break below current lows.. However in this week we remain in watch n wait mode in eurusd while looking for opportunities to Short towards retest of.

Hi traders, If we will see a drop on DXY we can anticipate a nice wave to the upside there but wait for a strong break to the upside before buying because it can still go lower.

I Believe we have an inverse head and shoulders pattern appearing on EUR/USD daily chart. We are just under the golden zone of .618 and right at a key support level. The Euro should have a strong week fundamentally speaking and this might be the time to buy.

LONG SET UP (BULLISH)

Hello Traders , EURUSD is bouncing from strong support and is trying to break above trendline.. we can see possible upside towards next resistances on break above trendline. where as if rejected from here we need to wait for price to close below current support in order to look for short. We have tried to underline possible direction on break.

EURUSD has reached a daily support level at 1.076623 and there is a tendency if the support holds firmly and price reverse, the demand at this level may be excessive while pushing price up to 1.113763 as daily resistance and if broken then there is every probability of the price move further. Moreover, the demand and supply play a very vital role in perfect.

Risk Management is Key

we are still in a downtrend don’t plan to buy yet

=> : EURUSD: Buy => Entry: 1.07877 => SL: 1.07170 => 1st TP: 1.08777 => 2nd TP: 1.11666 *** You Can Join Our Signal: t.me

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.

EUR/USD News (Euro US Dollar)

EUR/USD rises toward 1.09 amid a better market mood

EUR/USD is trading closer to 1.09, up amid falling coronavirus cases in the old continent and as German industrial output beat expectations with 0.3% for February. New US fiscal stimulus is also eyed.

Latest EURUSD News

EUR/USD Price Analysis: Recovery eyes the 1.0990 region

Coronavirus update: Spain’s daily new cases rise by 4%, deaths jump by 743

EUR/USD advances to 3-day tops near 1.0880 ahead of Eurogroup

Technical Overview

The world’s most popular currency pair has broken above the downtrend support line that accompanied it since late March but is still trading below the 50, 100, and 200 Simple Moving Averages on the four-hour chart. Critical resistance waits at 1.09, which provided support late last week and is also where the 100 SMA meets the price, in addition to being a round number.

Resistance beyond 1.09 awaits at 1.0950, which held EUR/USD down last week. It is followed by 1.1050, which capped another recovery attempt last week, and then by 1.1090 and 1.1150.

Support is at 1.0840, which held the currency pair on Monday, followed by 1.0765, Monday’s low. The next significant cushion is only at 1.0640.

Fundamental Overview

“Too soon to say whether coronavirus cases are easing” – the words of Germany’s Robert Koch Institute, which is leading efforts to curb COVID-19. The same message has been echoed other countries, but investors are already looking towards what comes next, as Europe’s largest countries report a slowdown in the pace of new infections and deaths. Spain has reported the fourth consecutive drop in daily mortalities, and Italy confirmed a substantial fall in new cases.

Stock markets are on the rise around the world and the safe-haven US dollar is on the back foot. Markets are also encouraged by signs of a slowdown in new cases in New York and by talk of another US fiscal stimulus package. House Speaker Nancy Pelosi is mulling another $1 trillion in spending that may include sending additional cheques to all Americans. President Donald Trump seems to support such a scheme.

The common currency’s advance is somewhat limited by ongoing disagreements over “coronabonds.” Germany and several other countries continue refusing to mutualize the debt in order to support the worst-hit countries. The continent’s largest economy has been open to issuing unconditional bailouts to southern countries but not to share the debt.

The Eurogroup – finance ministers of the 19 countries that comprise the eurozone – meet today and will try to hammer out a deal. German Chancellor Angela Merkel said that this is the EU’s most difficult moment and the longer countries remain at loggerheads, the more the euro could suffer.

Global COVID-19 cases have reached 1.35 at the time of writing, with deaths nearing 75,00. Further reports from Spain, Italy, France, and New York are set to move EUR/USD in the session.

Economic data from the US and Europe refer to February – before the crisis struck – and will likely be ignored by markets.

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