EUR/USD: Buyers stepped into the market.. but?
Hello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset, 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.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The EURUSD market is still trending to the downside, and currently reached the 0.50% of fibonacci about the last bearish impulsive move, just around its dynamic trendline.
As you can see on the chart, the 4hrs timeframe clearly shows how the market has been moving since a while inside this descending channel.
Few months of trading activity on the higher value of this pattern, was a clue of weak downtrend and finally the price broke to the upside its huge consolidation area, reaching the top channel’s trendline.
When, where and why would I step into the market?
Overall the market is still bearish, then a retracement back inside the channel is quite possible, however the US index seems to be weak and a bullish move for the EURUSD pair is the most likely scenario.
The level 1.12000 is definitely a great demand zone and we saw how the buyers finally pushed the price up with interesting momentum.
This idea is just a directional forecasting, I won’t plan any long trade position on this market at the moment… why? Don’t forget that a reversal market will be confirmed once the price will clearly breakout to the upside the key level at 1.1700, the last recent LH that the price made before its last impulse.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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.
Weekly timeframe:
Daily timeframe:
4 hours timeframe:
The EURUSD market is still trending to the downside, and currently reached the 0.50% of fibonacci about the last bearish impulsive move, just around its dynamic trendline.
As you can see on the chart, the 4hrs timeframe clearly shows how the market has been moving since a while inside this descending channel.
Few months of trading activity on the higher value of this pattern, was a clue of weak downtrend and finally the price broke to the upside its huge consolidation area, reaching the top channel’s trendline.
When, where and why would I step into the market?
Overall the market is still bearish, then a retracement back inside the channel is quite possible, however the US index seems to be weak and a bullish move for the EURUSD pair is the most likely scenario.
The level 1.12000 is definitely a great demand zone and we saw how the buyers finally pushed the price up with interesting momentum.
This idea is just a directional forecasting, I won’t plan any long trade position on this market at the moment… why? Don’t forget that a reversal market will be confirmed once the price will clearly breakout to the upside the key level at 1.1700, the last recent LH that the price made before its last impulse.
If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses!
Trade safe and responsibly,
Gianni
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose
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Disclaimer
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