EURUSD and FULL MOON. A major low is in progress?
Several studies have found a connection between moon phases and the performance of the market.
You can research the internet and you will find many articles on this topic.
In the chart above we have marked the Full Moon dates for the past 2 years in order to give you a visual representation of the Full Moon and important shifts in the market.
It is impressive to see how many times during the past two years the full moon date coincided with a major top or bottom or even marked the beginning of a new trend.
So, how can we use the full moon dates in order to profit from the market?
We will treat this information as any other indicator that provides potential signals for top or bottom. We will look for additional information from other technical indications in the charts.
As we can see in the daily chart below, the pair is already testing the bottom of the downward channel that contains the move from May's highs. RSI is in oversold levels and several Fibo wave relationships mark the area between 1.1240-1.1300.
Also at 1.1300 area 61.8% retracement is completed from March 2020 lows to January 2021 highs move.
Combining all the above we believe that a low that will give at least a significant pullback is already in place or will be formed in the coming days until the end of the week.
Was it the low that the pair formed during the Asian session at 1.1257 or the pair needs a new low a little bit lower?
One thing is certain... Market always does what it wants and not what we want.
Use the information.
Be prepared.
Make a plan.
Calculate your risk.
The profits will follow...
You can research the internet and you will find many articles on this topic.
In the chart above we have marked the Full Moon dates for the past 2 years in order to give you a visual representation of the Full Moon and important shifts in the market.
It is impressive to see how many times during the past two years the full moon date coincided with a major top or bottom or even marked the beginning of a new trend.
So, how can we use the full moon dates in order to profit from the market?
We will treat this information as any other indicator that provides potential signals for top or bottom. We will look for additional information from other technical indications in the charts.
As we can see in the daily chart below, the pair is already testing the bottom of the downward channel that contains the move from May's highs. RSI is in oversold levels and several Fibo wave relationships mark the area between 1.1240-1.1300.
Also at 1.1300 area 61.8% retracement is completed from March 2020 lows to January 2021 highs move.
Combining all the above we believe that a low that will give at least a significant pullback is already in place or will be formed in the coming days until the end of the week.
Was it the low that the pair formed during the Asian session at 1.1257 or the pair needs a new low a little bit lower?
One thing is certain... Market always does what it wants and not what we want.
Use the information.
Be prepared.
Make a plan.
Calculate your risk.
The profits will follow...
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