EURUSD Trading Analysis

by: Colibri Trader

Dear traders,

It has been a slow start of the year for me and there have not been many opportunities for analysis or trading. I had a couple of trading ideas recently- one of them I published on my website HERE and the second one on my Twitter account.

The first one was a EURAUD analysis, which did not materialise. In fact it turned out pretty bearish. Price could not break the1.5400 barrier and a lot of buyers started covering long positions while sellers were opening new shorts.

It still looks bearish to me at this moment.

On the other side, the German re-bounce I mentioned about on my Twitter feed did lead to a massive bullish rally.

I was looking at an inside bar on the 4 hour chart that led to a daily pinbar. From around 12,800 to about 13,300, the bulls were unstoppable. Currently, DAX is just below a minor resistance area, but I do believe we might see it climb up to the next major resistance level at 13,500 before slowing down its momentum.

EURUSD Trading Analysis

Today’s analysis is coming from the EURUSD pair. It looks like EURUSD hit a resistance level and is exhibiting the first signs of exhaustion.

There is an inside bar that has formed on the daily chart, which adds to the negative picture.

I will be looking for a bearish confirmation from the 4 Hour chart and if such confirmation occurs in the next trading session, I will be looking to most likely short EURUSD.

Happy Trading,

Colibri Trader

Check out how I see price action trading in this article

Also, don’t forget to check how I use Trendlines