Hello traders,
We'll be keeping a close eye on EURUSD this Monday for a potential buying opportunity. The pair has recently formed a double top, signaling the possibility of lower prices in the coming days. The neckline of this pattern has already broken downward, confirming its validity.
Additionally, we’ve identified a falling channel, which could act as a catalyst to push the price into a premium zone before a potential decline. Our ideal buy zone is around 1.0798, pending confirmation, with a target set at 1.0868, aligning with the 61.8% Fibonacci retracement level. There’s also an imbalance above the 61.8% level, which may attract the price upward.
If a buy opportunity presents itself, we will carefully place our stop loss at 1.0767 or just below the recent low for safety.
Hope you find this analysis useful! If you do, a boost would be greatly appreciated. 🚀
We'll be keeping a close eye on EURUSD this Monday for a potential buying opportunity. The pair has recently formed a double top, signaling the possibility of lower prices in the coming days. The neckline of this pattern has already broken downward, confirming its validity.
Additionally, we’ve identified a falling channel, which could act as a catalyst to push the price into a premium zone before a potential decline. Our ideal buy zone is around 1.0798, pending confirmation, with a target set at 1.0868, aligning with the 61.8% Fibonacci retracement level. There’s also an imbalance above the 61.8% level, which may attract the price upward.
If a buy opportunity presents itself, we will carefully place our stop loss at 1.0767 or just below the recent low for safety.
Hope you find this analysis useful! If you do, a boost would be greatly appreciated. 🚀
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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.
🔥Free Telegram Channel For Signals👇
t.me/+cJIWSM9RjvgyYzg0
t.me/+cJIWSM9RjvgyYzg0
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.