EURUSD (12H/4H): HIGH-RISK UPTREND
The EUR/USD pair is showing signs of potential recovery from oversold conditions on the 4-hour timeframe. While the broader trend remains bearish, several oscillators are indicating the possibility of a short-term bullish reversal. Key support levels are holding firm, suggesting that buyers may soon step in to regain control.
Although the EUR/USD pair is under broader downward pressure due to macroeconomic factors, oversold conditions on the technical chart suggest a potential near-term rally. Subscribers should be cautious but open to opportunities for upside moves, especially if market sentiment shifts in favor of risk-on assets.
The EUR/USD is positioned at a critical juncture, with oscillators signaling a potential reversal to the upside. Subscribers are advised to monitor the 1.0332 support zone closely and consider taking long positions, targeting the 1.0450-1.0500 resistance levels. This setup presents a favorable risk-reward scenario for traders who align with the uptrend bias.
OSCILLATORS
MOVING AVERAGES
PRICE ACTION
SUPPORT
RESISTANCE
TRADE RECOMMENDATIONS
Although the EUR/USD pair is under broader downward pressure due to macroeconomic factors, oversold conditions on the technical chart suggest a potential near-term rally. Subscribers should be cautious but open to opportunities for upside moves, especially if market sentiment shifts in favor of risk-on assets.
The EUR/USD is positioned at a critical juncture, with oscillators signaling a potential reversal to the upside. Subscribers are advised to monitor the 1.0332 support zone closely and consider taking long positions, targeting the 1.0450-1.0500 resistance levels. This setup presents a favorable risk-reward scenario for traders who align with the uptrend bias.
- The pair remains in a downtrend, as confirmed by lower highs and lower lows, coupled with bearish signals from moving averages.
- Current price action is consolidating near key support levels, suggesting indecision in the market.
OSCILLATORS
- Stochastic %K (11.44) and Stochastic RSI Fast (12.91): Both are signaling a strong Buy, indicating the pair is deeply oversold and due for a bounce.
- Commodity Channel Index (CCI) (-145.83): The CCI shows a clear Buy, highlighting a potential recovery from the current price levels.
- Momentum (-0.00283): The Momentum indicator also flashes a Buy, suggesting a slowing of bearish pressure and improving upward momentum.
- Williams Percent Range (-86.11): This indicator suggests oversold conditions, providing a Buy signal for the pair.
MOVING AVERAGES
- Most moving averages show a bearish bias
- The Hull Moving Average (HMA) is signaling a Buy
- This indicates potential for short-term upside momentum
PRICE ACTION
- The pair has consistently respected the 1.0332 major support level, showcasing a strong demand zone where buyers are stepping in to defend prices.
- The short-term bounce from these levels aligns with the uptrend bias supported by oscillators.
SUPPORT
- 1.0332: Major support and a critical pivot low for buyers. Holding above this level is key to maintaining upward momentum.
- 1.0400: Minor support level offering immediate stability.
RESISTANCE
- 1.0450: The first key resistance level to test the strength of the recovery.
- 1.0500-1.0518: Strong resistance zone, aligning with the 200-period EMA and SMA.
TRADE RECOMMENDATIONS
- Buy Entry: Look for long positions near the 1.0332-1.0350 zone, with a stop-loss below 1.0300 to limit downside risk.
- Profit Targets:
- Target 1: 1.0450 – First resistance level.
- Target 2: 1.0500-1.0518 – Upper resistance zone aligning with key moving averages.
- Confirmation Entry: Additional buying opportunities may arise if the pair breaks above the 1.0450 resistance, confirming further bullish momentum.
Professor C. E. Ward
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