Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the EUR/USD, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies.
Daily timeframe:
4 hours timeframe:
Since a while, the market has been following a long descending channel and at the beginning of December is started consolidating just around a strong support level that previously rejected the price to the upside. During its movement to the downside, as you can see on the chart, the market performed most trading activity on the higher part of the value, usually a sign that the downtrend is not that strong anymore and it will probably change its trend soon. However, many rejections inside the consolidation value are a sign that buyers are stepping into the market.
When, where and why would I step into the market? Considering that the market seems is losing strength to continue its downtrend, there is a good a possibility of trend change. However, according with my strategy, I wouldn’t take any action from the middle of the channel. I will be patiently wait for a confirmation of change direction before eventually plan my long position on this trade!
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Trade safe and responsibly, Gianni
DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose
Personally lean short on this for continuation of trend, but still appreciate the analysis 👍
UnknownUnicorn18552923
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@HayeTrading Hi and thanks for your feedback ! Yeah, the short scenario is still possible, it’s the main reason I’m wouldn’t take any action right now on this pair :)