his chart is a technical analysis of the EUR/USD currency pair on a 1-hour timeframe, featuring several indicators and annotations. Here's a breakdown of what it means:
Key Features of the Chart:
Support & Resistance Levels:
The black horizontal lines indicate important support and resistance levels.
Support: Around 1.08739 (marked with a black line).
Resistance: Around 1.09491 (upper blue zone).
Fibonacci Circles:
The red and blue circular patterns in the middle of the chart suggest Fibonacci time and price levels.
These are used to predict potential reversal points or price movements.
Supply & Demand Zones:
Blue shaded areas indicate resistance (supply zones) where price previously reversed.
The price may react again when reaching these levels.
Candlestick Patterns & Trend Lines:
A previous rejection at the upper blue zone (left side) led to a strong downtrend.
The blue diagonal trendline suggests previous bullish momentum.
Forecasted Price Movement:
The blue arrow suggests an expected bullish move toward the 1.09491 resistance level.
The setup suggests a buy trade with a stop loss around 1.08931 and a target near 1.09491.
Conclusion:
This chart suggests a potential bullish move in EUR/USD, with an expected rise toward 1.09491 if it breaks the resistance near 1.09104. However, if it fails, it could drop back to the 1.08739 support level.
Would you like further analysis or clarification on any aspect? 🚀
Key Features of the Chart:
Support & Resistance Levels:
The black horizontal lines indicate important support and resistance levels.
Support: Around 1.08739 (marked with a black line).
Resistance: Around 1.09491 (upper blue zone).
Fibonacci Circles:
The red and blue circular patterns in the middle of the chart suggest Fibonacci time and price levels.
These are used to predict potential reversal points or price movements.
Supply & Demand Zones:
Blue shaded areas indicate resistance (supply zones) where price previously reversed.
The price may react again when reaching these levels.
Candlestick Patterns & Trend Lines:
A previous rejection at the upper blue zone (left side) led to a strong downtrend.
The blue diagonal trendline suggests previous bullish momentum.
Forecasted Price Movement:
The blue arrow suggests an expected bullish move toward the 1.09491 resistance level.
The setup suggests a buy trade with a stop loss around 1.08931 and a target near 1.09491.
Conclusion:
This chart suggests a potential bullish move in EUR/USD, with an expected rise toward 1.09491 if it breaks the resistance near 1.09104. However, if it fails, it could drop back to the 1.08739 support level.
Would you like further analysis or clarification on any aspect? 🚀
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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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
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.