Previous Week Update:

  • Before


  • After


Followed A beautifully but never gave me a retest of any zone for me to get a trade in but as predicted went to the price levels I expected it to hit. Really sad I did not get a trade but it never matched my trading plan so I stayed out and focused on USDJPY.

Upcoming EUR + USD News:

  • Monday
    • ECB President Draghi Speaks
  • Wednesday
    • Fed Chair Yellen Speaks
    • Core Durable Goods Orders m/m
      • Previous: 0.7%
      • Forecast: 0.4%
    • Unemployment Claims
      • Previous: 249K
      • Forecast: 241K
    • Crude Oil Inventories
      • Previous: 1.9M
    • Thursday
      • FOMC Meeting Minutes

Monthly: We have found a support at where the wick was on the left, which could act as a retest of the broken ranging zone, but of course we must be patient and see how monthly closes.


Weekly: Weekly closed strong bullish, which in my opinion confirms the retest off the broken zone and created higher low. So now we have a strong possibility of going to test the highs and then create a higher high.


Daily: We have broken through the resistance and hit the next zone, I see a retest of broken resistance before continuing to the higher, which would give liquidity to continue higher. The market moves in waves!


H4: Here we can see a bit of a bullish flag forming, but we will have to see how market structure plays out, I want a to retest a zone and find some exhaustion before taking a long to the highs.


Overall EURUSD Analysis

USD has been dramatically weakening. I believe that the bounce or break of 1.18700 to 1.2000 will come with next month’s NFP and Fed Fund Rates. Right now, I will only look for long at broken resistance and look to take all my profits out at 1.18700.

Predicted Movement:

EURUSD Prediction

Again, as the other pairs I analyse, I am looking to only enter on the retest with price action confirmation and have path C to keep my mind open about price possibly going the other way.