EUR/USD-Daily analysis
Updated
Hello everybody, I want to share this with you!
-On a daily chart, we can see that the price reached a resistance trendline and resistance area and we can see that the price rejected that area with long upper wick but the price is still in bullish momentum.
-On stochastic indicator, we can see that the price is overbought so we may expect that bears are going to take control over this pair.
-On a lower time frame such as 4-hour and 1-hour,we can see that price tested multiple times resistance line and area and then rejected.
-On a daily base, EUR is weaker than USD and on an 8-hour base, EUR is still weaker than USD but on a 4-hour base, EUR is stronger than USD.
-If USD gains more power than EUR then we can expect bearish movement and if EUR gains more power and USD loses its power then we can expect further bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a daily chart, we can see that the price reached a resistance trendline and resistance area and we can see that the price rejected that area with long upper wick but the price is still in bullish momentum.
-On stochastic indicator, we can see that the price is overbought so we may expect that bears are going to take control over this pair.
-On a lower time frame such as 4-hour and 1-hour,we can see that price tested multiple times resistance line and area and then rejected.
-On a daily base, EUR is weaker than USD and on an 8-hour base, EUR is still weaker than USD but on a 4-hour base, EUR is stronger than USD.
-If USD gains more power than EUR then we can expect bearish movement and if EUR gains more power and USD loses its power then we can expect further bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
Note
EUR/USD is now moving in a bearish direction.-I sold at 1.11689 now the price is around 1.11397 (12:01 h)
Almost 30 pips in +
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