Vladimir Ribakov analyzes EUR/USD showing fake highs and bearish divergence on 4-hour and daily charts. He expects selling pressure near 1.10-1.11 resistance, though a short-term rally to 1.13-1.15 is possible.
Hello traders, how are you? Vladimir here from Home Trader Club and let's talk about the EUR/USD. In this video I want to share with you my technical analysis and my trading plan for the coming period. Let's begin, let's do it. Before the chart, big thanks and thumbs up to Adka Broker for supporting me and my community and to enjoy the special offers we run together, please refer to the link below this video in the description. And now, what is coming on the EUR/USD? So I published on the recent weekly forecast, uh, my expectations on the 4-hour chart where we should see the EUR/USD making fake highs, meaning every high that is created will react with a sell. And that's pretty much what is Happening on the price action so far. The biggest question we have here, of course, is what's coming next and where will the sell begin from. So the closer we get to 110, which is the psychological number, the more logical bearish pressure this pair will have. Now I want to show you a very interesting thing. If we plot the Bollinger Band, okay, duplication From the recent breakout, this is one of the indicators of mine. I love the Bollinger Bands, as you already know, probably watching my videos. Uh, so from this breakout on the duplication area, take a look where the resistance, the first duplication level dynamic Bollinger Bands resistance, uh, take a look where it fits. It fits here directly on the previous highs. Which is the classical supply area. Yes, it's above the 110, but take a look on the first one. Now take a look on the second where the first breakout happened here on this candle. Okay, the second duplication, which means the second important resistance area from the first breakout here, is right at this area again together with the supply, and that creates for us a window of opportunities here and here, right? That's what we saw. The closer we get there, the stronger this pressure is very likely to be, and from there, very likely we will see the sell. So with that in mind, I go to the 4-hour chart, and exactly as we discussed on the last weekly forecast I expect from the euro dollar to finalize its rally. So far we've had one fake high, so I expect to see the final fake high, maybe one, maybe even more, 2 in that case, uh, and this divergence to go and complete. Again, the closer we get to the 1.10 and slightly higher to the supply area we saw from the daily chart with this bearish divergence when the market is making the Higher highs and the indicator making lower highs. For me, this would be a beautiful sell zone. Let me know what do you think about the euro dollar. Are we going down from the area of 110, 111, or is the euro dollar going to climb all the way to 113, maybe 115 in this direct rally? Share with us your thoughts in the comment section. Thanks for your time watching this video. If you find value in it, please don't forget to like. And subscribe to the channel if you are new to this channel. Also, I invite you to our trading family, the Home Trader Club, where you get your access to our comprehensive trading courses, media zone, real-time trading opportunities, and so much more. Join us with the link below this video in the description. Best to you and yours. I'll see you soon with more. Good trading. Bye for now.
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