This is a bullish setup on EUR/USD following a clean rejection from a key support zone around 1.13500. Price action shows a breakout from a descending wedge, with a retest confirming support. Entry is taken at 1.138xx with a stop loss just below the structure at 1.13516. Target is set near the 1.1515 resistance zone, offering a solid risk-to-reward ratio.
Key Notes:
• Structure breakout and retest confirmation
• Demand zone aligned with previous lows
• Risk-to-reward greater than 1:3
• Monitoring price action for continuation
This setup aligns with both technical confluence and market structure. Let’s see how it plays out.
Key Notes:
• Structure breakout and retest confirmation
• Demand zone aligned with previous lows
• Risk-to-reward greater than 1:3
• Monitoring price action for continuation
This setup aligns with both technical confluence and market structure. Let’s see how it plays out.
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.
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.