Trade77, 17th Nov. 7am


Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

Today’s morning technical idea is for EURUSD.
We have got a great opportunity on the four hour chart of this pair:

Down sloping trendline made some bounces a few hours before and showed me this trendline is in action here. Now there is a bearish engulfing candle going to be formed, so I want the price to reach exactly around 1.3450-1.3440 range and then wait to see if any candles close below the trendline or another bounce from this line.
Price is far away from moving averages and I was looking for a pull back and then going short again as the short term trend is bearish now. So that pull back can be formed around this trendline.

In the H1 chart above we can see that moving averages are in the action and I think any closes beyond 20sma will indicate a pull back and start of a short bullish move.

Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.

Great Thanks

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  • Anonymous

    Thank you swol, it’s my pleasure.Yes the best way is to be in touch with twitter.

  • Swolpippen

    Mani, thanks for the help, I need to start interacting with you on twitter because as Segun mentioned it comes late. Keep up the good analysis.

  • Anonymous

    Hi Segun, Thanks. If you have a twitter account then please follow me there, so you’ll inform about the articles just some seconds after they are published.

  • Segun

    Thanks Mani. I like your trade information but it always gets to my e-mail box about 24-hours late thus making it impossible for me to use. I would appreciate it if i could be getting it early enough for me to be using it. I am in a time zone of GMT+1hr. Looking forward to your further invaluable assistance.
    Regards.
    Segun.

  • Agila

    it might have been true