Trade FX: EUR/USD with Unum Capital.
To get started, email lester@unum.co.za
The pair has pulled back over the two sessions, in line with the price action model (1 to 10 days), however, the medium and long term readings (scroll further down to see Friday's model) remains in place.
Previous Post (Friday 24 January): FX: The Euro (EUR) Is Continuing It's Bullish Reversal. This Is The Current Model Reading
Previous Post: EUR/USD Attempting A Bullish Reversal Following An Aggressive Sell-Off
Let's break down the EUR/USD trend analysis based on the price action model:
Overall Trend: Long Term: Persistently Weak But Monitor Lower Times For Rebound Potential
Short-Term Trends:
7-Day Trend: Neutral
14-Day Trend: Rangebound
Short-Term Trading Opportunities: No explicit short-term buy/long position opportunities are indicated in the image.
Medium-Term Outlook (2 to 4 weeks): Strong Attempting At Bullish Reversal Following Aggressive Sell-Off
Long-Term Outlook (5 to 8 weeks): Persistently Weak But Monitor Lower Times For Rebound Potential
Summary: The EUR/USD pair is currently in a long-term downtrend. In the short term, the 7-day trend is neutral, while the 14-day trend is rangebound. There is no explicit signal for a short-term buy or long position. However, the medium-term outlook suggests a potential bullish reversal following a recent sell-off. In the long term, the pair is expected to remain weak, but with potential for rebounds.
ABOUT THE TACTICAL TRADING GUIDE:
Technology + Proprietary Insights has helped to develop automated tools and strategies that are used to identify potential trading opportunities as well as highlight potentially significant technical developments across various time frames. This page highlights readings from our Tactical Trading Guide (Price Action Tool) which is also available as a live tool via the telegram group. The tool provides automated price analysis for any tradeable instrument across 3 time frames: short (short term), medium (medium term) and long (long term). Readings are subject to change, based on the development of the subsequent price action.
Lester Davids
Analyst: Unum Capital
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