EURUSD Bullish Outlook
I like trading EURUSD and it is my recommendation for beginners because of how much it ranges making it one of the easier pairs to trade.
Confluences for this trade:
The overall trend is an uptrend
Price is inside a parallel channel. The trend lines on either side of the channel act as support and resistance.
Price has respected the 4H trend line to the upside multiple times.
Drew the Fibonacci from last week's high to low and we can see price is approaching the 61.8% golden zone where we are looking for price to
give further support to the buy up to the 1.20000 area, which is also the weekly key level.
Confluences for this trade:
The overall trend is an uptrend
Price is inside a parallel channel. The trend lines on either side of the channel act as support and resistance.
Price has respected the 4H trend line to the upside multiple times.
Drew the Fibonacci from last week's high to low and we can see price is approaching the 61.8% golden zone where we are looking for price to
give further support to the buy up to the 1.20000 area, which is also the weekly key level.
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.
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.