EURUSD 4hrs long analysis
A solid low has been established on the 4-hour chart, while the daily resistance remains intact.
A retracement to the trend line is anticipated, providing an opportunity for buyers to step in.
Bullish Scenario:
If price holds above the trend line with substantial buying pressure and volume, EURUSD may extend its rally towards the supply zone around $1.0600, potentially mitigating it.
Key Levels to Watch:
- Trend line support
- Daily resistance
- Supply zone around $1.0600
PS: This analysis is for educational purposes only and should not be considered financial advice & remember to always practice good risk management.
A retracement to the trend line is anticipated, providing an opportunity for buyers to step in.
Bullish Scenario:
If price holds above the trend line with substantial buying pressure and volume, EURUSD may extend its rally towards the supply zone around $1.0600, potentially mitigating it.
Key Levels to Watch:
- Trend line support
- Daily resistance
- Supply zone around $1.0600
PS: This analysis is for educational purposes only and should not be considered financial advice & remember to always practice good risk management.
Trade active
Note
Trade Update:
I am Locking in partial profits here and adjusting risk management:
- Taking some profit off the table and move stop loss to break even
Securing a risk-free trade while still riding the potential uptrend.
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