empty
04.08.2021 07:39 AM
Accumulation Cylinder in play for EUR/USD for August 4, 2021

This image is no longer relevant

On July 27 we saw an almost 100-year chart formation by Jess Livermore, which he called an Accumulation Cylinder. The formation is a forewarning of upside acceleration in the days ahead. All that's needed is a break above the resistance line at 1.1909 that will call for upside acceleration to the former peak at 1.2264 and the long-term target at 1.2763.

That said, we also need to accept the possibility of one more drive lower to the cylinder support line near 1.1810 before the real challenge of the resistance line near 1.1909.

Summary
Urgency
Analytic
Torben Melsted
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

The appearance of a divergence indicates potential strengthening for the Kiwi in the near future, Monday, August 4, 2025.

NZD/USD – Monday, August 4, 2025. Although both EMAs are still forming a Death Cross, the appearance of a divergence on the RSI(14) indicator, which is also at the Neutral-Bullish

Arief Makmur 08:14 2025-08-04 UTC+2

Although there is potential for a limited strong retracement, USD/JPY is expected to weaken as long as it doesn't break above 152.16, Monday, August 4, 2025.

USD/JPY – Monday, August 4, 2025. With the EMA still forming a Death Cross and the RSI(14) indicator at the Bearish Neutral level, USD/JPY has the potential to continue strengthening

Arief Makmur 08:14 2025-08-04 UTC+2

EUR/USD Forecast for August 4, 2025

The euro's 170-pip rally on Friday represented a 50% correction from the extremes observed between July 24 and August 1. While the technical picture has noticeably shifted, the core medium-term

Laurie Bailey 05:10 2025-08-04 UTC+2

GBP/USD Forecast for August 4, 2025

On the weekly chart, the British pound must accomplish a very important task — to consolidate below the MACD line. Such consolidation would finally confirm the medium- and long-term bearish

Laurie Bailey 05:10 2025-08-04 UTC+2

Forex forecast 01/08/2025: EUR/USD, USD/JPY, GBP/USD, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 12:24 2025-08-01 UTC+2

Forecast for EUR/USD on August 1, 2025

On Thursday, the EUR/USD pair returned to the 76.4% Fibonacci retracement level at 1.1454, rebounded from it, and reversed in favor of the US dollar. However, the bears failed

Samir Klishi 11:27 2025-08-01 UTC+2

Forecast for GBP/USD on August 1, 2025

On the hourly chart, the GBP/USD pair on Thursday consolidated below the 127.2% retracement level at 1.3258, which suggests a potential continuation of the decline toward the support zone

Samir Klishi 11:11 2025-08-01 UTC+2

EUR/USD. Indicator Analysis and Daily Overview on August 1, 2025

On Thursday, the pair moved upward and tested the 14.6% retracement level at 1.1456 (yellow dashed line), after which the price turned downward and closed the daily candlestick at 1.1414

Stefan Doll 09:48 2025-08-01 UTC+2

Trading Signals for BITCOIN for August 1-5, 2025: buy above $115,000 (200 EMA - 5/8 Murray)

Yesterday, Bitcoin reached strong resistance around the 6/8 Murray level at 118,900 during the American session. BTC failed to break above this area and made a sharp drop

Dimitrios Zappas 07:50 2025-08-01 UTC+2

Trading Signals for GOLD (XAU/USD) for August 1-4, 2025: buy above $3,281 (21 SMA - 4/8 Murray)

Gold is trading around 3,292, bouncing above the 4/8 Murray level and forming a technical pattern called a pennant. A break above 3,396, or even a consolidation above

Dimitrios Zappas 07:47 2025-08-01 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.