The price eventually move to reversal and formed bulls candle yesterday, now the price on middle BB, this zone doubted to determine where the price will continue to bullish or will drop again, body candle size half by the previous candle it still bulls engulfing. Looking at the H1 timeframe, the BB line expanded, but the RSI value of 55 still indicates bullishly and has not yet reached the overbought zone.
In bullish scenario possible;le resistance zone at 1.16873 as previous high.
What happens to EURUSD, the price drops again and now landing at 1.15779, it formed bears candle but still inside the bar, now looking H1 timeframe, the price move on the range between 1.15832 as high and 1.15737 as low, now in bearish pressure but still so weak, RSI value 43 indicates if the price in a downtrend, and not yet reached oversold based H1 timeframe, meanwhile Bollinger band line show the price at the lower band in expanding line, still possible to breakout, but should to remember if price very dynamic.
What happen on AEURUSD, yesterday the price back to formed bullish candle, and we can see the price now land on the daily high, I think this is the crucial zone where if the price success to breakout, hence possible the price will tend to rise, but now based H1 timeframe, the price still so hard and occurs rejection several times on higher zone price. RSI value 60 and is lower, the price not yet reached overbought based RSI, meanwhile Bollinger band expanded and price break the BB line.
Wow very amazing movement, EURUSD fails to breakout high level and rejection make the price drops very rapidly and deep, now the price at a low level, I think this is support zone for the present time, based price pattern, H1 the pair in correction time, consolidating price may still occur on a few hours later, if this is the low-level price as a support zone, hence will possibly price will back to rising.
Based on BB line daily, the price on lower band level, this becomes support zone too, but the thing that should be remembered is to market very dynamic, we only use the zone support as a trigger to make entry and still need to use a stop loss. Meanwhile, the RSI value is 42 it's not yet entered in oversold zone-based RSI.
Monday morning on 8 November 2021, I see the gap occurs on EURUSD, the open price below the close price previous candle with distance about 75 pips based five digit decimal quote, now the price move to recover the gap, this often occurs when there are gap appear on Monday market then the price will move to recover the gap, but indeed not always like that.
In short term analysis, now the price based H1 timeframe on the upper band, this is maybe will become first resistance, if the price eventually breakout, it possible the perfect reversal pattern will give a signal, but if this level occurs rejection, it is possible the price drop again, here how to trade remains use risk management plan, because the market is very dynamic.
The price success to breakout yesterday and then formed a bullish candle, now the price level at 1.15865, based on H1 timeframe the price move on the small market or in flat condition, its move on range 1.1510 as low, and 1.1598 as resistance, meanwhile based H4 timeframe, now the price at the upper band but not reach the band, its closest to the band.
I think these level will become the next resistance, and if successful to breakout then possibly the price will continue bullish.
EURUSD trying to continue the rally on yesterday market, the price success to formed new high higher than the previous high, the candlestick formed a bulls pattern since Monday, but the price move still inside the range last week candlesticks, 1.16100 still become strong resistance and not yet breakout, if price success to breakout, it probably will bring the price move higher and the next resistance 1.16683 as horizontal line act crucial zone.
Meanwhile, based on the H1 timeframe, the price move on the range, based on the BB line the upper band and lower band still act as support and resistance zone, on the sideways market, the BB line still works, but when the line expands, volatility increase and indicate strong trending market.
EURUSD face rejection to continue bullish as 1.16100 as strong resistance, the price eventually drops and very sharp decline formed new low, long body candle represent the sharp decline occurs and exceed all previous candle, In the long term, these pair indicate bearishly,
But often occurs when the price drops or rise with surge, it will occur retrace become trend continuation, and although possible occurs, its rarely the trend one direction without retracement, now based H1 timeframe for short term analysis, RSI level below 30, it's in 26 level RSI, indicate as oversold zone-based H1 timeframe, it possible retracement occurs, and we can use Fibonacci to looking ratio.
The price still continue to drop yesterday, this is included strong bearish occurs on a week, meanwhile, look at the monthly timeframe, the price tends to bearish already move for at least two months, in long-term support monthly based, if record on about 1.05188, meanwhile current price 1.14655 still so far from support zone based history.
Weekly timeframe bears candle formed long body candle exceed previous long candle, indicates strong bearish has occurred on the week, now based H1 price move at the lower band, but the BB line expanding, its possible when break low will make price occurs continuation trend. but retracement could occur on Friday due to end week may occur random demand and supply.
Good morning, there is no gap that occurs on EURUSD right now, the price looks normal, Friday market is still in a bearish trend, but in low movement.
RSI value on the daily timeframe shows 36 levels. this is not yet under 30 as an oversold area, inflation US maybe still influence on the currency, but Europe also faces some problem on the economy, outbreak case for covid maybe still impact to the recovery slowdown.
But let see what happens this week, the price does not always move in one direction, based on the Elliot wave, in a downtrend market will occur up wave but not form new high, it is possible the price will retracement.
