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Fibonacci Expansion

Potential Buy OrderSummary The analysis reveals an upward trend in the exchange rate. The recent drop was expected due to overbought conditions, with prices now recovering towards the resistance level at 163.25. The Fibonacci analysis indicates significant support levels at 157.35, while resistance is identified at 162.00. Technical indicators suggest that it is too early to place safe buy orders. Trend Determination The direction of the exchange rate in recent times is depicted by the primary upward trend channel that has formed, with price movements occurring in the middle zone. The channel's range is approximately 1200 pips, with the price distance from the upper resistance limit being 600 pips and from the lower limit 600 pips. In a shorter time frame, a secondary upward trend channel is observed. The price trajectory is upward, with movements recorded in the lower zone of the trend channel. The secondary channel's range is 525 pips, with the price distance from the upper resistance limit being 485 pips and from the lower limit 40 pips. The recent drop in the exchange rate was expected as prices had reached overbought levels. This increases the likelihood of the price moving higher. The first resistance level is set at 163.25, and the support level is at 152.60. Fibonacci Support and Resistance Levels Fibonacci Retracement The Fibonacci Retracement analysis shows that the recent downtrend was a corrective move. Specifically, the exchange rate halted at 157.35 and is now moving upwards. This point is a significant support level, and its potential breach could start a downward trajectory. Additional support levels are observed at 156.20 and lower at 154.74. Currently, there is no clear confirmation for future price rises, as movements between 157.35 and 158.96 make drawing conclusions difficult. Placing trades while the exchange rate moves within these prices carries very high risk. Safer trading positions appear to be above 159.96 for buy orders and below 156.20 for sell orders. Fibonacci Expansion Additional resistance levels, using Fibonacci Expansion, are identified at 159.96, 162.00, and 164.34 – 163.63. The latter, as shown in the chart, might be a significant resistance level, as two resistance levels from different Fibonacci Expansions converge. Technical Indicator Analysis Moving Averages Currently, the exchange rate prices are between the moving averages. This indicates that it is still too early to place buy orders. MACD The MACD is moving positively in a downward direction. The divergence observed between the exchange rate prices and the MACD results was confirmed by the recent corrective downtrend. At present, the indicator's results do not support placing a buy order. Future Movement Scenarios Scenario A The first scenario concerns the potential upward movement of prices. Confirmation of this scenario comes from two factors. The first is the upward breakout of the moving average from the price. The second is the exchange rate moving above 159.96. The first resistance level is at 163.25, followed by 164.34. The reversal point is placed relatively lower at 157.35. Stance: Neutral | Outlook: BUY | Risk for placing orders: Moderate Entry Point: > 160.00 | Target: 163.25 | Down Limit: 157.35 Scenario B The possibility of a continued downtrend can occur if the exchange rate moves below 156.20. In this case, the trajectory needs to be reassessed.
Long
by Forex_Analytica
EXY is at a critical turning point.EXY is at a critical turning point which will judge its course in the future. Looking at the data in the charts, it is obvious that the sellers are trying to lead the index to lower price levels. Starting from the analysis of the trend and its momentum, in the price chart on the left, there is a downtrend lately which has led to the break of the lower limits of the uptrend channel, creating two lower lows as well as two lower highs. Continuing the analysis with the averages, which follow the trend, it seems that a change in the direction followed by the prices is imminent. Specifically, the position of the green average, it is the one that indicates the type of the trend, and its attempt to go below the white average is an indication of an impending change in the direction of the price. Then the data from the MACD show a weak momentum, at the moment, which does not cease to be negative. Looking back at the chart, however, the MACD’s momentum was not as strong as now and the green average did not try to break the white in the previous attempt of the sellers to lead the EXY to lower levels. These data may lead to the conclusion that this may be the beginning of a downward trend in EUR Index prices. On the other hand, focusing on the data that arise from the analysis of support and resistance levels, there are some points of interest that need special attention to make any decision. At this point I should mention that some levels of Fibonacci Retracement and Expansion have been deliberately removed as well as several levels of support and resistance have been omitted to make the chart as clear as possible. In the findings of the analysis, it is obvious that the downward trend of prices stopped right at the confluence of the levels 100.0FE and 61.8FR as well as at the support level 119.00. Also, the fact that the fall was stopped at 61.8 FR, which is an important limit in the study of Fibonacci levels, testing it twice in recent times, it is concluded that the dynamics of sellers, at present, is not enough to push EXY to lower price levels than currently. Some very critical levels that are formed after the application of the Fibonacci tools as shown in the chart are the resistance levels 119.8 and 123.0 as well as the support levels 119.0 - 116.3 and 113.5. Considering the above findings, the conclusion is that the index is at a very important price level. A breakout of the 119.0 level could lead to a further drop to the 116.3 price level and then to 113.5. On the other hand, the possibility of prices breaking 119.8 may lead to higher price levels, initially up to 123.0, and in the end, the downward trend of the last period may be considered as a correction.
TVC:EXY
by UnknownUnicorn214400
2
EURUSD 1.18933 + 0.17 % LONG IDEA * STRUCTURE AND PRICE ACTIONHEY EVERYONE Here's a look at the EURO / DOLLAR pair heading into a new week the pair is currently trading in a bull frag which it can break in any direction but looking at the momentum push with the bulls looking for continuation of this move as it would be premature to go against the trend seeing no signs of slowing down on the pair so on higher time-frames we just have an overview of direction and what is the bigger picture in the markets. for entries we scale down to smaller time-frames to determine entries and so forth. many stars must align with the plan before executing the trade, kindly follow your rules. here's some of my rules if they help. 1. will be looking for a break above of the bull flag on the pair. 2. RSI is overbought so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Long
by PULEMokhothu
GBPUSD Trade Idea Sell to BuyEqual lows right above where the next 61.8 fibonacci retracement is. Also a whole number (1.27000) and could be the end of the correction and beginning of next bullish cycle. Next target is 2.618, as 1.618 has been breached over the last two weeks. Expecting a liquidity grab before moving up. Maybe even as low as 1.26000. If price does travel down that way, would just have to watch for signs of a floor. Notice how 3.618 (target 3) is right above the overall target (and major liquidity zone) which is also easily seen on the weekly chart. 2.618 is also the bottom of the distribution zone.
Short
by DJdSchu
1
Sell the NZDUSD. Cypher Patternkinda messy but... We got the Cypher pattern completing at 1.618 (according to the Fib expansion) at an exchange rate of 0.72860. Let's wait for a confirmation (could be at 0.72446) to sell this pair. The first exit would be at 0.71298 (50%) and then moving the SL to the breakeven point. The second exit at 0.70921 (61.8%). I did not include the retracement for the AD swing because it will be too difficult to read with it in place. You can also use 0.382 and 0.618 Fibonacci retracement levels of the CD leg.
Short
by carlosacosta234
2