EURUSD ANALYSIS: Long or Short?

12 thg 1

Hello Traders,

Allow me to share my thoughts on the current EURUSD Pair.
The current analysis of EURUSD reveals a complex price action, presenting challenges in determining a clear market position. On one hand, I could see an emerging/potential head and shoulders pattern, indicative of a possible bearish movement. This potential bearish bias is supported by a resistance zone that has consistently rejected price in recent times.

On the other hand, the 800EMA has acted as a dynamic support by rejecting the price to the upside three times.

Given these conflicting signs, it's essential to closely monitor price actions.

I'm anticipating two scenarios:

1. A breakout below the fully formed head and shoulders pattern's neckline at 1.09026. This would trigger a sell position, with a target set at 1.07402.

2. A breakout above the resistance zone at 1.10071. This would trigger a buy position, with targets set at 1.11080 and 1.12300 respectively.

At moment I will be a spectator.

Cheers, and happy trading.

16 thg 1

Ghi chú

SELL Positions activated on EURUSD. (Head and shoulders pattern)

24 thg 1

Ghi chú

Price has moved +165pips from the moment of this analysis. It has also done +93pips from our entry point. Trailing profit is advised as price moves in our direction.

5 thg 2

Ghi chú

Price has moved +230Pips from the level of this analysis, while it has also done +160pips from entry price.

5 thg 2

Đóng lệnh: đạt mục tiêu

5 thg 2

Ghi chú

4RR Done.