Forex Zone | Forex Forum

Albayani Trading Journal

Discussion started on Trading Journal

Print
Pages: [1]   Go Down

Albayani

  • Posts: 6
  • Points: 515
  • Likes Received: 2
  • Reputation: +0/-0
Albayani Trading Journal in Trading Journal_xx
Hi, everyone!

The euro/dollar pair entered a consolidation zone again. Traders cannot decide which direction to take. Although the pair?s growth is too weak, I still expect it to advance today.

Name: 1.png Views: 248 Size: 56.9 KB title=Name: 1.png Views: 248 Size: 56.9 KB

Earlier, on the hourly chart, the pair broke through the inclined resistance level but failed to gain strong upside momentum. Currently, the quotes are consolidating and gaining volumes. In my opinion, trading activity will increase when the European session opens. Thus, I expect the price to pull back down to 1.1000 and then rise to the round level of 1.1100. Thus, yesterday's scenario may repeat itself.

A deep downward movement is possible, but the price needs to break through the inclined level around 1.0990 and fix below it. In this case, the quotes will have every chance of sliding to the 1.0900 area.

Today?s macroeconomic calendar is also bereft of any important releases which could have a severe impact on the dynamics of the euro and the US dollar. Therefore, it is worth being guided by technical indicators.


Linkback: https://www.forex.zone/trading-journal/31/albayani-trading-journal/3714/
#1 - March 23, 2022, 01:26:36 PM

Albayani

  • Posts: 6
  • Points: 515
  • Likes Received: 2
  • Reputation: +0/-0
Albayani Trading Journal in Trading Journal_clip
Haii Everybody.
Yesterday, I opened a long position at the support level 1.0955-65 and managed to make a profit. The euro/dollar pair hit the 1.1045-55 resistance level as expected but then stalled. Currently, the price is consolidating between the levels of 1.1045-55 and 1.1005-20.
From a technical point of view, it is worth focusing on the following levels today:

- the support level 1.1005-20 and the area 1.0955-65. If the price breaks this zone, the pair will most likely enter the 1.0935-1.0805 support zone. In this case, market sentiment can change dramatically.
As I mentioned above, there is no strong signal yet. Nevertheless, I expect the euro to rise in value and head towards the 1.1265-1.1330 area.


Albayani Trading Journal in Trading Journal_1008011572
#2 - March 23, 2022, 01:33:04 PM
Attachments:
Print
Pages: [1]   Go Up

Members:

0 Members and 1 Guest are viewing this topic.


* Similar Topics

xx
Trading journal

Started by blackberry10 on Suggestions & Feedback

10 Replies
1423 Views 		Last post October 03, 2019, 09:47:38 PM
by Admin
xx
Isca Trading Journal

Started by Isca on Trading Journal

189 Replies
4536 Views 		Last post May 03, 2019, 03:24:22 PM
by Isca
clip
Iw4n's Trading Journal

Started by Iw4nN on Trading Journal

0 Replies
399 Views 		Last post March 04, 2020, 05:47:46 AM
by Iw4nN
xx
Kazumi FX Trading Journal

Started by KazumiFx on Trading Journal

147 Replies
3895 Views 		Last post February 19, 2019, 01:53:05 PM
by dwi furqon