EUROUSD 4H LONG (ALL Targets DONE)This position worked perfectly.
Now it is important to wait for the correction structure, as it was indicated in the previous update post:
Considering the current formations on the 1D TF, the probability of price growth to the current maximum increases multiple times. Locally, I expect to see a price correction (a rollback next week) and preferably with a depiction of a bullish imbalance. After which, you can work long for a whole month until 1.12758
Eurousd-price-action
EURO/USD: GOOD RALLY COMING IN.After a long devastating rejection since January 2021, the EURO/USD finally resurrected from the dead.
Note: This analysis is in a 2-monthly timeframe so do not consider this a short-term trade setup.
A -22.85% rejection from the resistance was brutal for the EURO/USD in the long-term view. After almost 2 years, the EURO/USD has bounced back from a historical supporting trendline. This looks good from a long-term perspective and I believe we may see some positive moves in the coming new year. In a lower timeframe(3-6 hours), the EURO/USD is dropping down which is quite obvious and it must be a bearish situation if you are a bull and you are scalping or playing in the short-term market. Overall, EURO/USD looks good for now.
What do you think? Share your views in the comment section.
Trade safely.
Euro/Usd : Likely to continue in the same 100 pip range Speculative sentiment index is around 25% hence our advise is to find only long scalp entries in smaller time frames . Price likely to continue in the 100 pip range (1.2130-1.2250) with a minor support around 1.2100 ( EMA 50 area) . Breaking 1.2250-70 range top will push the price towards the major resistance around 1.2370.
Trend : Range
Signal : Long Scalp in 1.2130-1.2250 range
The closest observation at what is happening EUR/USD,Price Range: This range has attracted buyers, one again price was entered into this attraction, and buyers were seen active.
Buyers lost their control against sellers and price was pushed down with average volume.
Invalid Diji / Suspicious Alarm :
Compare to surrounding 3 candles volume, Doji has an extremely low volume that indicates suspicious activities started.
Rounded Pattern:
Whenever you see the rounded pattern which has low volume because of trader/investors, not interest that area of the range.
From the 3rd of April, we are seeing average volume trading.
Finally, If price move in a broad range with crossed average volume will our direction. For example, price cross Average Volume this week will be Bullish in price next few weeks.
In the last update: I suggested to buy EURUSD: