EURUSD Forecast And Technical Analysis 01-12-2018

The dollar slumped against rivals on Friday on the back of weak factory inflation data, while the euro enjoyed solid support after the European Central Bank hinted that it could be gearing up to trim its massive monetary stimulus.

Investors took the relatively hawkish statement as a further signal that the ECB will wind down its 2.55 trillion euro ($3.07 trillion) bond purchase scheme this year if Europe’s economy continues to hum along.

EURUSD is being priced at 1.20420 currently. On the Daily chart, RSI’s value is 62 and Bullish. 1.20900 remains as a strong resistance.

On the H4 chart, 1.2054 is the first level which the pair needs to break before 1.20900.

1.20230 and 1.19930 are the possible pullback levels.

Today, US Core CPI and Retail Sales data will be released. A negative data will trigger EURUSD’s bullish move.

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Warning: All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases.

If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly.

WARNING ABOUT TRADE IDEAS

  1. We enter trades on different pairs and we look for other trade opportunities. So we recommend you to enter trades with the smaller size.
  2. Do not exceed 10% margin.
  3. Stop Loss and Take Profit Levels are +/- 15 pips minimum.
  4. If we do not publish an update close the 40% of your position on the TP1 level and move your stop loss to entry level.
  5. Some trades ( especially with 300-500 pips profit target) can take 5-6 days to hit the targets. If you do not have patience, do not enter the trade.
  6. Our aim is to close each with week 2500-3000 pips profit minimum.
  7. If we mention as “pullbacks are buying/selling “ opportunities and we publish pullback levels, you do not need to wait for a signal from us. Use these opportunities at the mentioned levels.
  8. All markets trade in different phases; bull and bear markets don’t start overnight. Markets build through three major phases and depending on the time frame you are trading, you will see different phases. If you enter a trade by analysing the H4 chart frame, this is just a day trading, your stop loss and take profit levels must be set up accordingly

 

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