EURUSD LONG LONDON OPEN

27 thg 7, 2023

📈 EURUSD BUY 📈

Take Profit 1 - 1.1148
Take Profit 2 - 1.1198
Take Profit 3 - 1.1248
Stop loss - 1.0968

here is my more in-depth analysis of EURUSD:

The EURUSD pair has been in a bullish trend for the past few weeks, and it is currently trading near the top of its range. The current spot rate is 1.1068, and a buy entry point of 1.1068 is just below the recent high of 1.1088.

There are a few reasons why EURUSD could continue to rise in the near term. First, the EUR is generally seen as a safe haven currency, and it has been strengthening against the USD in recent weeks as concerns about the global economy have eased. Second, the European Central Bank is expected to raise interest rates more quickly than the US Federal Reserve, which could strengthen the EUR against the USD. Finally, the USD has been weakened by the recent decline in risk appetite.

Technical analysis:

From a technical perspective, the EURUSD pair is trading above its 200-day moving average, which is a bullish signal. The pair is also forming a bullish ascending triangle pattern, which is a continuation pattern that typically leads to a breakout to the upside.

Fundamental analysis:

The Eurozone economy is showing signs of recovery, with GDP growth picking up in recent months. The unemployment rate is also falling, which is another positive sign for the Eurozone economy. The US economy is also growing, but at a slower pace than the Eurozone economy. This could lead to a relative outperformance of the EUR against the USD in the near term.

Risks:

There are a few risks to consider before entering a trade on EURUSD. First, the Eurozone economy is still facing some challenges, such as the war in Ukraine. Second, the US Federal Reserve is expected to raise interest rates more quickly than the European Central Bank, which could put downward pressure on the EUR. Finally, the global economy is facing some headwinds, such as the war in Ukraine. These headwinds could weigh on risk appetite and lead to a decline in the EURUSD pair.

Overall:

I think EURUSD is a good pair to trade for those who are looking for a long-term bullish trend. However, it is important to remember that the forex market is volatile, and there is always the risk of a reversal. You should always do your own research before entering any trades.

Here are some additional factors that you may want to consider before entering a trade on EURUSD:

The economic outlook for the Eurozone and the US.
The level of volatility in the forex market.
The price of risk assets, such as stocks and commodities.