WEEKLY TECHNICAL ANALYSIS ๐
OVERALL TREND
๐ DOWNTREND โ Despite the recent bullish impulse, the overarching structure remains a downtrend. Price is now testing a key area of interest.
๐ดRESISTANCE & SUPPLY ZONES
๐กSUPPORT & BUY ZONES
๐LONG-TERM SUPPORT LEVELS (WEEKLY)
๐ง STRUCTURAL NOTES
TRADE OUTLOOK ๐
๐งชSTRATEGY RECOMMENDATION
CONSERVATIVE APPROACH (Trend-Following):
โ Wait for rejection at 1.15044
โ Short Entry below 1.13648
โ TP Levels: 1.10990 / 1.08757 / 1.04570
โ SL: Above 1.15734
RISK-REWARD BUY SETUP (Countertrend):
โ Buy Orders: 1.03959 and 1.02477
โ TP: 1.07111 / 1.08757
โ SL: Below 1.01779
โDiscipline | Consistency | PAY-tienceโขโ
OVERALL TREND
๐ DOWNTREND โ Despite the recent bullish impulse, the overarching structure remains a downtrend. Price is now testing a key area of interest.
๐ดRESISTANCE & SUPPLY ZONES
- ๐ด 1.15734 โ SELL STOPLOSS | PIVOT HIGH
- ๐ด 1.15044 โ SELL ORDER II | SUPPLY ZONE
- ๐ด 1.14849 โ RESISTANCE (Major)
- ๐ด 1.13648 โ SELL ORDER (Downtrend Confirmed)
- ๐ด 1.10990 โ SELL ORDER & TP 1
- ๐ด 1.08757 โ SELL ORDER & TP 2 | MID PIVOT
- ๐ด 1.07111 โ SELL ORDER & TP 3
- ๐ด 1.04570 โ EXIT SELL & TP 4
๐กSUPPORT & BUY ZONES
- ๐ข 1.03959 โ BUY ORDER
- ๐ข 1.02477 โ BUY ORDER II
- ๐ข 1.01779 โ BUY STOPLOSS | PIVOT LOW
๐LONG-TERM SUPPORT LEVELS (WEEKLY)
- ๐ก 0.98605 โ SUPPORT (PROXIMAL)
- ๐ก 0.98000 โ SUPPORT (MAJOR)
- ๐ก 0.97500 โ SUPPORT (MAJOR)
- ๐ก 0.95396 โ SUPPORT (DISTAL)
๐ง STRUCTURAL NOTES
- EURUSD has surged into a weekly supply zone between 1.15133โ1.16165
- Price is currently reacting at a confluence of a PIVOT HIGH and MAJOR RESISTANCE
- A rejection here could initiate a multi-week pullback toward 1.08757 or lower
- Aggressive sellers may begin positioning around the 1.15044 zone with stop above 1.15734
- Buyers are expected to step in near 1.02477 and 1.03959 zones
TRADE OUTLOOK ๐
- ๐ Short-Term Bearish Bias while inside supply zone
- ๐ Bullish structure only resumes on decisive close above 1.15734
- ๐ Watch for reaction near 1.13648 โ potential sell-off trigger
- ๐ Mid-term reversal opportunities exist at 1.08757, 1.04570, and 1.02477
๐งชSTRATEGY RECOMMENDATION
CONSERVATIVE APPROACH (Trend-Following):
โ Wait for rejection at 1.15044
โ Short Entry below 1.13648
โ TP Levels: 1.10990 / 1.08757 / 1.04570
โ SL: Above 1.15734
RISK-REWARD BUY SETUP (Countertrend):
โ Buy Orders: 1.03959 and 1.02477
โ TP: 1.07111 / 1.08757
โ SL: Below 1.01779
โDiscipline | Consistency | PAY-tienceโขโ
Professor C. E. Ward
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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.
Professor C. E. Ward
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.