How to Trade the EUR/USD pair oJanuary 6? Simple Tips!
EUR/USD is trading around 1.0299. bouncing after having reached a low at 1.0222. This coincided with the bottom of the downtrend channel. Now after the technical bounce, the instrument is located above 2/8 of Murray. So, a recovery is likely to follow in the next few hours.
If the euro consolidates above 0/8 of Murray in the next few hours, we could expect it to reach the 21 SMA located at 1.0347. EUR/USD could even reach the top of the bullish trend channel around 1.0385.
On the other hand, the euro could consolidate and we could expect a resumption of the bearish cycle, but the key will be to watch for the price to stay above 1.0253. Above this area, there will be an opportunity to buy. Below this area, the euro could continue its fall and could even reach-1/8 Murray around 1.0131.
The indicator is showing a bearish signal, so we could expect a technical correction. Then, we will be able to buy if the euro settles above 1.0256.
Trading Strategy for Monday:
On the 4 hourly chart, the EUR/USD pair has exited its "holiday flat" phase, concluding it with a fresh decline. We believe that the euro's downtrend has resumed in the medium term, with little distance remaining to parity. Further declines in the euro are expected, supported by fundamental and macroeconomic factors that favor the US dollar.
Nevertheless, the pair may experience upward movement on Monday, as to buy signals formed at 1.0269 and 1.0277.
On the 5-minute time frame, the following levels should be considered: 1.0156, 1.0221, 1.0269-1.0277, 1.0334-1.0359, 1.0433-1.0451, 1.0526, 1.0596, 1.0678, 1.0726-1.0733. 1.0797-1.0804, 1.0845-1.0851.
Happy Trading!
If the euro consolidates above 0/8 of Murray in the next few hours, we could expect it to reach the 21 SMA located at 1.0347. EUR/USD could even reach the top of the bullish trend channel around 1.0385.
On the other hand, the euro could consolidate and we could expect a resumption of the bearish cycle, but the key will be to watch for the price to stay above 1.0253. Above this area, there will be an opportunity to buy. Below this area, the euro could continue its fall and could even reach-1/8 Murray around 1.0131.
The indicator is showing a bearish signal, so we could expect a technical correction. Then, we will be able to buy if the euro settles above 1.0256.
Trading Strategy for Monday:
On the 4 hourly chart, the EUR/USD pair has exited its "holiday flat" phase, concluding it with a fresh decline. We believe that the euro's downtrend has resumed in the medium term, with little distance remaining to parity. Further declines in the euro are expected, supported by fundamental and macroeconomic factors that favor the US dollar.
Nevertheless, the pair may experience upward movement on Monday, as to buy signals formed at 1.0269 and 1.0277.
On the 5-minute time frame, the following levels should be considered: 1.0156, 1.0221, 1.0269-1.0277, 1.0334-1.0359, 1.0433-1.0451, 1.0526, 1.0596, 1.0678, 1.0726-1.0733. 1.0797-1.0804, 1.0845-1.0851.
Happy Trading!
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Personal Contact t.me/FxMr_Signal
Official Telegram Channel
t.me/MrForex_Pips
Personal Contact t.me/FxMr_Signal
t.me/MrForex_Pips
Personal Contact t.me/FxMr_Signal
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