Categories: Technical Analysis

Bullish setup forming in EURUSD before NFP

It seems that the Euro is preparing for another push up before the Non Farm Payrolls this Friday. There is a nice opportunity forming in the short-mid term. Here is how we can join this potential bullish move.

Technical Overview:
D1: 20+ candles ride on the bollinger bands. Now we can expect the price to reach the opposite band. At the same time we are following the bearish hidden divergence that is being formed at the moment.

H1: Double wave correction, up trend line, hidden bullish divergence

Entry:
H1: Wait for the double wave correction to complete around the support zone 1.1420 – 1.1410 which is our BUY range. You can enter upon reaching the levels or alternatively wait for bullish candle pattern inside the range zone to trigger the buy order. Protection below the up trend line.
Target 1: 1.1525
Target 2: 1.1620
Stop Loss: below the trend line

Video Explanation

Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.