EURUSD WEEKLY ANALYSIS (SHORT IN 4H!)
Good day traders, I hope you all have a great weekend ahead and plan your trading strategy week ahead!
Start off with EURUSD analysis, based on weekly chart, price can created a shooting star pattern. From H4 timeframe perspective, price has broken below the previous low (1.1280). As of now, price has broke below EMA55 in H4 timeframe.
Therefore, we have all the analysis supported that price would further push to the downside. A correction would be make first and ideally to 1.1280 before a further push to the downside.
Entry price: 1.1277
SL: 1.1345
TP 1: 1.1180 (Short term, fibonacci retracement 38.2%)
TP 2: 1.1100 (Long term, fibonacci retracement 50%)
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
Start off with EURUSD analysis, based on weekly chart, price can created a shooting star pattern. From H4 timeframe perspective, price has broken below the previous low (1.1280). As of now, price has broke below EMA55 in H4 timeframe.
Therefore, we have all the analysis supported that price would further push to the downside. A correction would be make first and ideally to 1.1280 before a further push to the downside.
Entry price: 1.1277
SL: 1.1345
TP 1: 1.1180 (Short term, fibonacci retracement 38.2%)
TP 2: 1.1100 (Long term, fibonacci retracement 50%)
Always go for a clear trading strategy and enter trade with good risk management. It's always you versus yourself instead of you versus the market.
Note
Fundamental Update: Do note that on 18th June, EU will hold EU Summit to discuss the EU's May 27 Recovery Fund proposal. If agreement remain elusive and push to July, EURUSD will be pushed to the downside.Note
Price seems like starting to drop without touching our entry price @ 1.1345. Move your sell limit to 1.1265 and let's see if price would retest 1.1265Note
Unfortunately, price has hit our targeted SL. This is part of trading, which involves losses and profits, and this is what make trading interesting. Handle your trades with good risk management, we will be back on EURUSD for another potential entry soon. Stay tuned!
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