EURUSD 4hrs long analysis
A solid low has been established on the 4-hour chart, while the daily resistance remains intact.
A retracement to the trend line is anticipated, providing an opportunity for buyers to step in.
Bullish Scenario:
If price holds above the trend line with substantial buying pressure and volume, EURUSD may extend its rally towards the supply zone around $1.0600, potentially mitigating it.
Key Levels to Watch:
- Trend line support
- Daily resistance
- Supply zone around $1.0600
PS: This analysis is for educational purposes only and should not be considered financial advice & remember to always practice good risk management.
A retracement to the trend line is anticipated, providing an opportunity for buyers to step in.
Bullish Scenario:
If price holds above the trend line with substantial buying pressure and volume, EURUSD may extend its rally towards the supply zone around $1.0600, potentially mitigating it.
Key Levels to Watch:
- Trend line support
- Daily resistance
- Supply zone around $1.0600
PS: This analysis is for educational purposes only and should not be considered financial advice & remember to always practice good risk management.
Trade active
Note
Trade Update:
I am Locking in partial profits here and adjusting risk management:
- Taking some profit off the table and move stop loss to break even
Securing a risk-free trade while still riding the potential uptrend.
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.