Hello everyone, EUR/USD has been on a downtrend for the past
8-9 weeks. However, that could change very soon.
📌1.0640 is a support level, from where we have already seen a
pullback of about 80 pips in EUR/USD.
📌The next support level lies in the 1.0520 region.
📌If the initial support level holds, buying the dip in EUR/USD
with target at 1.0850 is a potential trade plan. However, if price
drops below 1.0640, traders need to wait for 1.0520 before buying again.
8-9 weeks. However, that could change very soon.
📌1.0640 is a support level, from where we have already seen a
pullback of about 80 pips in EUR/USD.
📌The next support level lies in the 1.0520 region.
📌If the initial support level holds, buying the dip in EUR/USD
with target at 1.0850 is a potential trade plan. However, if price
drops below 1.0640, traders need to wait for 1.0520 before buying again.
Note
Price back above 1.07, however I will be targeting the 1.0640 level to see if a buy entry is possibleNote
1.0740-1.0760 is a resistance zone. If EUR/USD breaks out above this zone, expect further uptrend. If the zone holds, price will fall back to 1.07 againNote
As I repeated multiple times, price has now dropped to the 1.0640 level. Let’s see if we can see some bullish price action now
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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.