Eur/Usd Top Down Analysis Feb 24'
Updated
Eur/Usd! The reaction off 1.08927 was quite dramatic last thursday and friday.
Intro/Monthly TF 0:0
Weekly Timeframe 4:05
Daily timeframe 6:29
4hr timeframe 9:29
1Hr timeframe 11:33
Price has retraced and since dipped into a 4hr zone 1.08011. It bounced here on friday and the price action consolidated after that. It is possible that we may observe more sideways movement before another continuation. I liken a continuation for buyers because of sentiment moving out of last week due to cad news. It is quite normal to see a reaction off a daily zone like we observed on thursday and friday and it could very well be just a pullback in an uptrend. Caution however!
Not Financial Advice.
Education Purposes Only.
Intro/Monthly TF 0:0
Weekly Timeframe 4:05
Daily timeframe 6:29
4hr timeframe 9:29
1Hr timeframe 11:33
Price has retraced and since dipped into a 4hr zone 1.08011. It bounced here on friday and the price action consolidated after that. It is possible that we may observe more sideways movement before another continuation. I liken a continuation for buyers because of sentiment moving out of last week due to cad news. It is quite normal to see a reaction off a daily zone like we observed on thursday and friday and it could very well be just a pullback in an uptrend. Caution however!
Not Financial Advice.
Education Purposes Only.
Note
Turned out be great continuation buys earlier in the week here. We are 1.5 hours away from NY open on 2/26/24 and price has cleared the clean traffic range that extended from 1.0835 to 1.0855. Difficult to discern where we are headed from here. Wll stay flexible with approach. Note
End of Monday's trading. Consolidation after price increased to 1.0855 4hr Resistance zone
Related publications
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.