EURUSD: Buy at low levels today
Updated
This is the 30-minute chart of EURUSD, where I've marked the resistance zone and strong resistance level, as well as the entry points. The overall trend today is bullish, with the first step being to see if the resistance zone can be broken. If it can, we'll look to the strong resistance level for our next target. If it can't be broken, we can enter a short position after taking profits on our long position, with the profit target near 1.053-1.045.
Today is Thursday, and I don't expect the market to have too much volatility, especially since there will be a highly influential non-farm payroll report tomorrow. The market should maintain minor fluctuations as it awaits the release of this data.
Of course, we can't rule out the possibility of the market moving in anticipation. If the non-USD market surges ahead of the report and the data is unfavorable for the USD, the non-USD market will probably continue to rise, but the amplitude won't be too large. Conversely, if the USD is bearish and the non-USD market surges ahead of the report, it will likely experience a significant drop after the data is released.
I'll provide a more detailed analysis based on the market trends before the release of tomorrow's data. Today's trading should focus on buying at low levels.
Thank you for your attention and support. I'll continue to share more interesting trading strategies, and if you have any questions, please leave a message and I'll provide you with the most reliable solution to help you solve your problems!
Wishing you a wonderful day!
Trade active
EURUSD: Close to the first take-profit level, you can choose to take profits, or you can choose to continue to hold positions and wait around 1.06Trade closed: target reached
Take profit reached, all profitTrade active
The price is still trending upwards, with resistance at the 1.062-1.064 level. If there is sufficient margin, one can enter a long position now. Take-profit can be set near 1.062-1.063.
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.