Forex VPS
Forex VPS
ForexFunction Logo

"Forex trading involves a high level of risk"

Forex VPS
 Forex Live Heat Map |  Market Comments |  Technical Indicator Signals |  Cross Pair Rates |  Live Spread |  Live Charts |  Daily Pivot Points

EUR/USD Chartpack - Technicals & Trade Setup : FxWirePro | May 14, 2018

Print PDF

EUR/USD dragonfly doji spikes off rallies above DMAs but intermediate trend edgy – Trade one touch calls and short hedge:

EURUSD 0.35% rallies are spiking above DMAs ever since dragonfly doji occurred at 1.1856 levels, for now, more upswings seem to be likely on bullish DMA and MACD crossovers (refer daily plotting).

The pair in the recent past forms back-to-back shooting star patterns at 1.2303, 1.2287, 1.2320, 1.2329 & 1.2285 levels and hanging man patterns at 1.2316 levels. The intermediate trend that was oscillating between the tight range of 1.2223 and 1.2545 levels but for now, bears have managed to break below this range with bearish EMA & MACD crossovers (refer weekly chart).

Well, the current price slides way below 21EMA on this timeframe as both leading oscillators signal weakness and the lagging indicators indicate downswings to prolong further.

The stiff resistance levels were observed at 1.1969 and 1.2002 levels.

As the bullish swings take support at 7DMA, bullish DMA & MACD crossovers are most likely to drag price rallies even though the minor trend has been drifting in sideways for today.

RSI and stochastic curves have shown upward convergence that indicates the strength and intensified bullish momentum (on daily terms) and it is absolutely adverse on weekly terms.

On a broader perspective, the consolidation phase in the major trend that was bullish now turned into bearish again. After last three months struggle for healthy bullish momentum, the current prices have popped-up flurry of bearish patterns, such as hanging man , shooting star at peak of rallies coupled with bearish MACD crossover on weekly terms.

Hence, at spot reference: 1.1957 levels, contemplating prevailing bullish sentiments in the minor trend, on trading grounds, it is advisable to buy one-touch call option strategy, using strikes at 1.1969 levels is advocated to participate in the bullish sentiments.

Alternatively, shorting futures contracts of near month tenors are also advisable with a view to arresting potential slumps.

Currency Strength Index: FxWirePro's hourly EUR spot index is displaying shy above 42 levels (which is bullish ). While hourly USD spot index was inching towards -15 (neutral) while articulating (at 05:53 GMT             ).

Submit Your Comments:

 Forex Trading VPS


Windows 2012R2/2016 | Server Location Amsterdam, France, Canada | Low Latency From Brokers| Super Fast Trading Experience | All types of EA supported | 3 Days Money Back Guarantee

Plan NameBuy Link CPU RAM Disk BandWidth Price (Montly)Price (Quarterly)Price (Semi-Annually )Price (Annually) InstallationBackUpSetup Fee
ECO-01 buy now1 Core 756MB 18GB Unmetered $4.99/M$4.49/M$3.99/M $2.99/M MT4 Pre-InstalledYesFree
ECO-02 buy now 1 Core 1GB 22GB Unmetered $5.99/M$5.49/M$4.99/M $3.99/M MT4 Pre-InstalledYesFree
ECO-03buy now 2 Core 2GB 30GB Unmetered $9.99/M$9.49/M$8.99/M$7.99/M MT4 Pre-InstalledYesFree
ECO-04 buy now2 Core 3GB 32GB Unmetered $13.99/M$13.49/M$12.99/M $11.99/M MT4 Pre-InstalledYesFree
ECO-05buy now 3 Core 4GB 40GB Unmetered $17.99/M $17.49/M$16.99/M$15.99/MMT4 Pre-InstalledYesFree
ECO-06 buy now 3 Core 5GB 45GB Unmetered$21.99/M $21.49/M$20.99/M$19.99/MMT4 Pre-InstalledYesFree

***We accept Paypal, Perfect Money, Bitcoin !