EURUSD|Weekly road map and important areas
Updated
Hello friends, I hope you are doing well.
Continuing the previous analysis of EURUSD, so far as we expected, it weakened and managed to break the 4-hour support area downwards.
The next demand area is around (1.078-1.08), the areas that we can consider to enter selling positions, the first was the support area that was broken, now it is preventing the price from rising as resistance.
The next supply area is the range (1.093-1.095), and when the price reaches these areas, you can enter selling positions by getting confirmation.
In the future, if I identify a situation, I will let you know in the updates.
My target for the EURUSD price is the support level of 1.078
Continuing the previous analysis of EURUSD, so far as we expected, it weakened and managed to break the 4-hour support area downwards.
The next demand area is around (1.078-1.08), the areas that we can consider to enter selling positions, the first was the support area that was broken, now it is preventing the price from rising as resistance.
The next supply area is the range (1.093-1.095), and when the price reaches these areas, you can enter selling positions by getting confirmation.
In the future, if I identify a situation, I will let you know in the updates.
My target for the EURUSD price is the support level of 1.078
Trade active
Trade active
The market rejected the support level and rebounded.
EURUSD
attempted to move lower three times. The price made equal lows, then it formed a long-tailed bar, which is a sign of level rejection. I think the market might go up to retest the resistance because, on the weekly timeframe, the market reached the demand zone. Additionally, the market also formed divergence at the support level, which suggests that bears do not have the strength to push price lower. My goal is the resistance 1.09000
Related publications
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.