1. What happened (recap):
Last week, EURUSD reached the 1.1150 zone, a level that hasn't been touched since August-September last year. After that, the pair started a correction. Although the week started with a gap down yesterday, bulls took control and pushed the pair higher.
2. Key Question:
Has EURUSD completed its correction, or is another drop coming?
3. Why I expect further upside:
• 🔑 A retest of the formed support at 1.09 occurred during yesterday’s New York session, followed by a fresh rebound.
• 📊 The drop from 1.1150 appears corrective in nature, suggesting the possibility of a new leg up.
• 🎯 As long as 1.09 holds, my strategy is to buy dips with the primary target being a retest of the 1.1150 resistance zone.
4. Trading Plan:
📌 I’m looking for buying opportunities on dips, aiming to retest the 1.1150 resistance area. This scenario is invalidated only by a daily close below 1.09.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Last week, EURUSD reached the 1.1150 zone, a level that hasn't been touched since August-September last year. After that, the pair started a correction. Although the week started with a gap down yesterday, bulls took control and pushed the pair higher.
2. Key Question:
Has EURUSD completed its correction, or is another drop coming?
3. Why I expect further upside:
• 🔑 A retest of the formed support at 1.09 occurred during yesterday’s New York session, followed by a fresh rebound.
• 📊 The drop from 1.1150 appears corrective in nature, suggesting the possibility of a new leg up.
• 🎯 As long as 1.09 holds, my strategy is to buy dips with the primary target being a retest of the 1.1150 resistance zone.
4. Trading Plan:
📌 I’m looking for buying opportunities on dips, aiming to retest the 1.1150 resistance area. This scenario is invalidated only by a daily close below 1.09.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.
Trade closed manually
Manualy closed around break even
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.