Long

EURUSD Bullish Sets Up After 2nd Reversal From 1.092 support.

By AAresearchFX

Updated

TECHNICAL ANALYSIS

EURUSD price action gives a strong pullback reversal at 1.09 support.
EURUSD responds to market sentiment after ECB introduces QE after deposit rate cut.
EURUSD bullish buildup is currently supported by strong convergence of leading indicators, as likelihood of fed rate cut next week is high.

Note

*EURUSD First uptrend target reached at 1.110

Trade active

D1 Long Target.

*EURUSD expected to retest the 1.110 lower high price level to validate a bull market sentiment buildup and a subsequent break above 1.111.

*EURUSD bear support priced at 1.104/1.100 if H1/H4 lead indicators signals a bearish bias

*Relativity high price action volatility is well expected as a result of Fed rate announcement.

Trade closed: target reached

*EURUSD test the 1.100 lower low level confirming a bearish bias by market sentiment.

Note

FUNDAMENTALS:
*EURUSD bullish market sentiment buildup after an expected global inflation concern from oil price surge, as a result of Saudi oil attack, has been nullified

Note

TECHNICAL:
*EURUSD downtrend falls within projected median range at 1.098. [a sell/buy entry depending on STOCH/MACD multi-time frame] ...Long position still holds for now

Note

*EURUSD flat at 1.102 with a bearish bias assent to the 1.107-1.100 project median bear range.
*Market sentiment has adjusted to expected Fed rate cut...

Trade closed: target reached

AAresearchFX

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