EUR/USD Analysis 08/09/2024 1H
Updated
EUR/USD in a nice consolidation on the 1H and 15min.
Analysis 15min: This period is in a nice strong bullish channel, I love the price action, 6 nice tags showing signs of break out, key thing to watch is the next couple of hours. How will we react around the trendlines? We will not get to many more tags of this channel. Bullish flags are signs of a bearish trend reversal and or continuation of the current trend, at least to me..
Analysis 1H: This period is basically the same, but the price action is vastly different. A hold below 1.0920 would mean a break in market structure and that could lead to a retest of the range support on the 1H at 1.0892. However, I exact things to move up for a retest, keep in mind the market is bullish. A break above the channel. Hold. Retest. We are gone.
Personal bias: Short, short term.
Analysis 15min: This period is in a nice strong bullish channel, I love the price action, 6 nice tags showing signs of break out, key thing to watch is the next couple of hours. How will we react around the trendlines? We will not get to many more tags of this channel. Bullish flags are signs of a bearish trend reversal and or continuation of the current trend, at least to me..
Analysis 1H: This period is basically the same, but the price action is vastly different. A hold below 1.0920 would mean a break in market structure and that could lead to a retest of the range support on the 1H at 1.0892. However, I exact things to move up for a retest, keep in mind the market is bullish. A break above the channel. Hold. Retest. We are gone.
Personal bias: Short, short term.
Trade closed: stop reached
Not a hit here, but we made the most of the uptrend later on!
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