EURUSD Day Trades – December 27

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EURUSD Day Trades – December 27

Expected a quiet day today amidst holiday trading, but it ended up being anything but. An early rally triggered multiple stop loss order above former highs on the longer-term term charts, creating a strong rip higher followed by a slower but equally spectacular drop.

Throughout the London and early-US session there were a number of excellent opportunities which could have been captured using strategies outlined in prior articles.

Following an aggressive move higher during the London session there was a small pullback which took the form of a tight downward channel.

The strategy, as outlined in Trading the “Mini-Channel Breakout”, is very simple. After an aggressive move, if a small channel forms moving in the opposite direction, wait for a breakout of the channel (in the same direction as the prior strong move) and then enter.

A Fibonacci extension tool is applied to provide some profit targets. Usually the 100 Fibonacci level would be the target, but if the price is moving very aggressively then an exit can be taken at the first sign of a pullback. This would have resulted in getting out near the 161.8 to 138.2 level as the price started to come back down.

Figure 1. EURUSD Mini-Channel Breakout Trade – 1 Minute Chart

Basic Trend Trades

Following the surge shown in figure 1 the price declined, and every time it tried to push higher, sellers stepped in to quickly take it to a new (short-term) lower-low. This indicated that the rally was likely over and the price would either continue lower or consolidate moving in more of a sideways direction. In either case, it was reasonable to consider short trades.

Using a method first outlined in EURUSD Day Trades – October 7 and October 8 a short trade soon presented itself. Going short at the upper band (0.01% exponential envelope) with a 3.5 pip stop and a profit target of 6 pips (or using a Fibonacci extension tool as discussed prior), this short trade also worked out well. I usually just take profit at the fixed target, but with no evidence of the price moving higher just yet, the trade could have been held for a larger gain.

Figure 2. EURUSD Trend Trade (“scalping”) – 1 Minute Chart

Throughout the rest of the London and early US session there were no aggressive moves higher (relatively speaking), which meant if trades were taken they should have been on the short-side.

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Using the same strategy as outlined above, there were multiple shorting opportunities which would have been profitable. Toward the right-hand side of Figure 3 (below) there was one trade which would have likely stopped out most traders out (using the 3.5 pip fixed stop), unless the trader waited for a better entry above the upper band because the price did eventually drop again.

Figure 3. More Potential EURUSD Trend Trades – 1 Minute Chart

After the likely loser the price starts “riding” the band, and is no longer bouncing off it like it was earlier in the session. If the price isn’t bouncing off the band then the strategy shouldn’t be used, as some other strategy–likely based off tendency and price action–will be more effective. Also, this strategy is best used during the London and early US session. As the London close approaches this strategy becomes less effective.

EURUSD Day Trades – December 27

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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. Price is likely to form the Head & Shoulders pattern. We can initiate a short position if there is a confirmed rejection of the 200 MA or of the Resistance Trendline. Then we can initiate short on a breakout of the support trendline. Wait for confirmed signal, because the pattern can be invalidated.

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.

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.

many asked for EURUSD forecast. I did not, because now is not the best time to open a trade. The best entry points: 1) sell from the resistance line to the support line 2) From the support line to the resistance line. Everything on the chart is shown. Now it’s best to just wait for a good moment.

Trading suggestion: . There is a possibility of temporary retracement to suggested support line (1.0857). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . EURUSD is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance.

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.

Look for long trade upon the retest of the ascending trend line which align with the recent support and resistance level. _________________________________________________________________________________________________________________________________________ Traders! if you like my ideas and do take the same trade, please write it in comment so we can manage.

Please Support this Idea with LIKE if it is Useful. EURUSD The price broke above the trendline there is a chance that after a pullback price will continue moving up,wait for the price to reach the zone and if price holds the support and if price gives any bullish signal then look for buy opportunity.. For Entry: Wait for the formation of Bullish Candlestick.

Watch lower time frame correction and buy on Breakout. ThankYOu

EURUSD: Descending channel pattern with breakout- LONG 1.Double bottom 2.Channel Breakout 3.Engulf candle broke out the channel and closed outside Thank you for your likes and support! Good Luck!

Hello guys! Looking for nice entry near Buy Zone If the market will reverse from current resistance, we should use the buy zone for entry. Why suggesting this zone? Good R/R ratio and tight stop loss range. Please calculate your stop loss according to your risk limits. Plan B we can see breakout from resistance. If this will be realised. I think we need to buy.

EURUSD* The technical cross-section**: Trend: 0 A strength of trend: -3 Overbought/oversold: none The priority area of transactions: selling Selling in the area of 1,1000 with a stop above 1,1050 and a profit in area 1,0860. Selling in the area of 1,1140 with a stop above 1,1190 and a profit in area 1,1060. Buying in the area of 1,0790 with a stop below.

Under that heading we publish signals of the indicator called “Ranger”. It was developed by our experts for intraday trading purposes. This indicator is based on statistical analysis of the data and provides information about possible maximum/minimum values of the day (just right after the day has started) with certain probabilities. What does this information.

��Hi guys!�� ��The Forex market has been very pleasantly surprising me lately. �� ����Euro-dollar likes many traders. Let’s look at the hourly chart. It shows very good growth. You may see ones more falldown to 1.08446, but then I expect the growth to the strong level of resistance. ⁉Guys, tell me, do you share my opinion?⁉ ✍��✍��✍��If not, write me about it too! If.

EURUSD Wait to buy!! Good luck ,Guys, if you like the idea please put like button, this will be the best thanks. Thank you for your support, I appreciate it.

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.

Price action is impulsive, I assume a higher high before price reverses into a larger correction (will update then).

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.

Best Time to Day Trade the EUR/USD Forex Pair

Best hours of the day to day trade the EUR/USD

Image by © The Balance 2020

The allure of forex day trading is that you can trade 24-hours a day. Unfortunately, that doesn’t mean you should. Day traders should only trade a forex pair when it’s active and there’s lots of volume and transactions occurring. The EUR/USD has certain hours which are acceptable for day trading because there is enough volatility to generate profits, which are likely higher than the cost of the spread or commission. To be efficient and capture the largest moves of the day, day traders hone in even further, often day trading only during a specific 3–4-hour window.​

The Impact on EUR/USD Volatility

The forex market operates 24-hours a day during the week because there’s always a global market open somewhere due to time zone differences. However, not every global market actively trades every currency, so different forex pairs are actively traded at different times of the day.

When Europe is open for business, pairs that involve the euro (EUR) or British pound (GBP) are more actively traded. When the U.S. and Canada are open for business, pairs that involve the U.S. dollar (USD) and Canadian dollar (CAD) are more active.

If day trading the EUR/USD, the times that are likely to be most active for the pair, on average, will be when London and New York are open. Those markets are open between 0800 and 2200 Greenwich Mean Time (GMT). To see major market hours in your own timezone, or your broker’s (charts) time zone, use the forex market hours tools.

Acceptable Times to Day Trade EUR/USD

The hourly volatility chart shows how many pips the EUR/USD moves each hour of the day (times are in GMT). There is a significant increase in the amount of movement starting at 0700, which continues through to 2000. After this, movement each hour begins to taper off, so there are likely to be fewer big price moves day traders can participate in.

Day traders should ideally trade between 0700 and 2000 GMT. Trading outside of these hours, the pip movement may not be large enough to compensate for the spread or commissions.

Volatility changes over time, but the most volatile hours generally do not change too much. 0700 to 2000 GMT will continue to be the most acceptable time to day trade, regardless of whether daily volatility increases or decreases. Note that daylight savings time may affect trading hours in your area.

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