EURUSD Long- Looks beautiful! Confluences align
EURUSD is now looking to retest the well maintained Support floor from 2017 and will hopefully bounce from there, further aiding this bias we have a 78.6% Fibonacci Retracement that sits beautifully on the Support. Additionally, there is a Counter Trendline that (looks better on the weekly) needs to be retested and once again perfectly aligns with the other two confluences. The target is the .27% Fibonacci Extension, which means it will be a long hold unless the market booms off this area. You can also take profits along the way at key Trendline and Resistance areas.
It's reaching near it's prior lows and i believe that this is a great time to go long. This is the monthly chart as you can get a clear overview of whats happening and it shows everything from a much cleaner perspective.
It's reaching near it's prior lows and i believe that this is a great time to go long. This is the monthly chart as you can get a clear overview of whats happening and it shows everything from a much cleaner perspective.
Note
Can even extend stop losses to be safe as it is a swing with good R:RNote
Direction correct just didnt hit my entry. annoying!
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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.