This is my analysis for the EURUSD for the week of Sept 9-14, 2018!
If you saw my most recent markup, you know I'm feeling bullish on the DXY, so conversely I see the EURUSD dropping this week.
This was easiest for me to show and explain on the weekly time frame.
All the way back in February 2015 we began seeing strong resistance in the 1.135-1.143 region which was held until mid July 2017 when it was finally broken to the upside.
That broken resistance turned into a new support level in early August 2018 where it bounced, but is now looking to retest that new support level.
Looking at this from a higher time frame, you can see we are also respecting a triangle.
Also take note of the gap that was created back in April 2017 (YELLOW BOX) that has not been filled yet.
With everything happening in the world fundamentally with the US Dollar, the trade wars, and all the other crap, I am confidently bearish on the EURUSD.
Have a great week! Happy trading!
~TT
*Trade at your own risk. I am not qualified to give financial advice. This is simply MY PERSPECTIVE :)
If you saw my most recent markup, you know I'm feeling bullish on the DXY, so conversely I see the EURUSD dropping this week.
This was easiest for me to show and explain on the weekly time frame.
All the way back in February 2015 we began seeing strong resistance in the 1.135-1.143 region which was held until mid July 2017 when it was finally broken to the upside.
That broken resistance turned into a new support level in early August 2018 where it bounced, but is now looking to retest that new support level.
Looking at this from a higher time frame, you can see we are also respecting a triangle.
Also take note of the gap that was created back in April 2017 (YELLOW BOX) that has not been filled yet.
With everything happening in the world fundamentally with the US Dollar, the trade wars, and all the other crap, I am confidently bearish on the EURUSD.
Have a great week! Happy trading!
~TT
*Trade at your own risk. I am not qualified to give financial advice. This is simply MY PERSPECTIVE :)