Chart Overview In this analysis, we’ll take a closer look at the daily chart of the Euro FX Futures, focusing on the price movements as 6E has been stuck in a range for over one year. This range is between well-defined support and resistance zones, with the resistance zone at 1.10265, and the support zone Read More…
Weekly Chart Analysis: The weekly chart exhibits a consolidation pattern with a clear ‘Point of Control’ at approximately 1.09220. This level represents the price with the highest volume traded over the analyzed period and acts as a significant area of balance between supply and demand. The presence of a ‘Low Volume Node’ below this range Read More…
Weekly Chart Analysis:The weekly chart shows the price fluctuating within the Gaussian channel. The recent trend is sideways, with the price fluctuating between the upper and lower bands of the channel. The ‘Higher High’ (H) and ‘Lower Low’ (L) indicate a lack of a clear long-term trend. The RSI is at 54.37, which is neutral, Read More…
Dollar Too Strong For Euro The Dollar is just too strong for the Euro at this point, which has caused 6E to plunge 5.6% since its high back in July. The market has pushed the price below a support trend line, and the bulls are trying to hold it within a minor support zone. Technical Read More…
Weekly chart The main feature we can look at on the weekly chart is the volume profile indicator. The Euro has struggled to break above the point of control line and has begun to retrace from it as it acts as resistance. Currently, 6E is trading within a high-volume node. You can see this by Read More…
Recap In the previous analysis, we did on July 14th, the Euro was rallying up toward a resistance level of $1.12. I want to take a look at price action now as it looks like there is a potential buying opportunity in the Euro. Applying the basics of Elliott wave theory to the price action Read More…
