Eurousd
Looking at the EUR/USD daily chart, we observe a pattern of higher highs and higher lows, indicating that price is respecting the trendline.
Our key focus is on 1.054, a strong resistance level. We wait for a clear breakout before considering an entry.
If the price pulls back instead, our first buying zone is at 1.042 to 1.040. Why?
✅ The 50 EMA aligns as a strong support
✅ It coincides with a weekly support level
✅ The trendline support adds further confluence
By waiting for confirmations at these levels, we position ourselves for high-probability trades!
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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.