EURUSD Long Script
Trade Plan of EUR/USD as on 25 July 2022:
Script: Long
Entry point Significance:
• Entry Point is near to both a string demand zone and an ascending support S2.
TP Significance:
• TP is the Fib resistance @ 1 where the price has tested 7 times and is a strong resistance which is much likely to be tested again as the ascending support is pushing the price up.
Overall Confluence:
The price has broken an ascending trend and is moving within a range where it has a very strong support underneath and a strong resistance over it but there is another support S2 which is leading the price to close in the patterns of Higher Lows so it is expected that the price will once again test the resistance and we will take our profit from there and exit.
Script: Long
Entry point Significance:
• Entry Point is near to both a string demand zone and an ascending support S2.
TP Significance:
• TP is the Fib resistance @ 1 where the price has tested 7 times and is a strong resistance which is much likely to be tested again as the ascending support is pushing the price up.
Overall Confluence:
The price has broken an ascending trend and is moving within a range where it has a very strong support underneath and a strong resistance over it but there is another support S2 which is leading the price to close in the patterns of Higher Lows so it is expected that the price will once again test the resistance and we will take our profit from there and exit.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.