EUR-USD FORECAST (SHORT TERM TRADE SETUP)
Here's a simple short term chart analysis on EUR-USD for the day traders. ...
We're currently within a channel in a 2 hour time frame. I personally would wait for a buy opportunity on this but you know what they say, take any great opportunity you can get. A buy would be great when we break out from the channel through the mild resistance as we can see clearly in the charts. while for a sell, we should be looking for a retest on the small trend breakout within the channel and then a downward reversal. you wouldn't want to jump in on a retest for a sell because we could keep going up.
The best play is to wait for a retest, and then a reversal, then you can take the sell, but in my opinion, a buy would be a much more confident trade. to understand why i'm more confident on the buy, please check this chart below from my previous long term analysis on EUR-USD. This is a Zoomed in version on Consolidation above the breakout
Please feel free to share your ideas in the comment section below, i hope this helps
We're currently within a channel in a 2 hour time frame. I personally would wait for a buy opportunity on this but you know what they say, take any great opportunity you can get. A buy would be great when we break out from the channel through the mild resistance as we can see clearly in the charts. while for a sell, we should be looking for a retest on the small trend breakout within the channel and then a downward reversal. you wouldn't want to jump in on a retest for a sell because we could keep going up.
The best play is to wait for a retest, and then a reversal, then you can take the sell, but in my opinion, a buy would be a much more confident trade. to understand why i'm more confident on the buy, please check this chart below from my previous long term analysis on EUR-USD. This is a Zoomed in version on Consolidation above the breakout
Please feel free to share your ideas in the comment section below, i hope this helps
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