LIVE FOREX CHART >>

 

« previous next »
Pages: [1]

Author Topic: EUR/USD Price Forecast – Euro rallies during Tuesday session  (Read 131 times)

FXshooting

  • Administrator
  • Hero Member
  • *****
  • Posts: 1785
    • View Profile
EUR/USD Price Forecast – Euro rallies during Tuesday session
« on: July 24, 2018, 11:15:08 pm »
EUR/USD Price Forecast – Euro rallies during Tuesday session

The Euro rally during the Tuesday session after initially dipping down to the 1.1650 level. The rally was impressive, but as I record this it looks as if we are starting to see an abatement of that bullish pressure. I believe that the market is going to continue to be very noisy, and the longer-term charts suggest that perhaps we have more consolidation ahead of us.

The Euro drifted a bit lower to start out the day on Tuesday, but then skyrocketed towards the 1.1725 handle before rolling over again. I think this is going to be indicative of the market, as there are far too many headlines risks out there for the Euro to be an easy currency to trade. I think that currency markets in general are going to be rather difficult, and the Euro is where a lot of high-frequency trading goes to work. As long as that’s the case, it’s very likely that we will see choppiness in this market. Beyond that, on the daily chart I recognize that we are in a symmetrical triangle, and of course have support at the 1.16 level underneath, and the 1.1750 level offering resistance.

This is a market that you will need to trade from short-term perspective, as it will continue to be extraordinarily noisy, and therefore extraordinarily difficult. I believe that the market continues to see headlines risks coming out of the Brexit and of course the negotiations that the European Union will be involved in with the United Kingdom, so I believe that we are going to have a noisy couple of weeks regardless.

A range bound system should be employed in the markets, as it seems as if they are not ready to go anywhere quite yet. Because of this, I think that scalping may be the way to go.


Ref. www.fxempire.com/forecasts/article/eur-usd-price-forecast-euro-rallies-during-tuesday-session-517718

https://www.fxshooting.com
Logged

Share on Facebook Share on Twitter

Pages: [1]
« previous next »
 







Pay For Premium Forex Signals FXSHOOTING

Payment Premium Signals

 



NEWS & ANALYSIS VIDEO



 
XAUUSD chart by TradingView










InstaForex



   


Risk Disclosure: Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors. Trading or investing in cryptocurrencies carries with it potential risks. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Cryptocurrencies are not suitable for all investors. Before deciding to trade foreign exchange or any other financial instrument or cryptocurrencies you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), Forex and cryptocurrencies prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data. Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.