EURUSD Weekly:
• New lower high formed after rejection of descending trendline and closing as hanging man.
• Price is still trapped in an area of consolidation for 10th week.
EURUSD Daily:
• Price broke through descending trendline & 1.1427 area of resistance.
• Small bull trend with price forming slightly higher lows & higher highs.
• I do expect for price to push up once more to 1.1533 resistance to form one last higher high before possibly plummeting.
EURUSD 4hr:
• After breaking 1.1427 price is now on its way to possibly retesting 1.1427 as a level of support before we enter any long positions up to 1.1533.
Trade active
from dotted support lineTrade closed manually
+5pips spotted reversalTrade active
entered AgainTrade closed: target reached
take profit @ 1.15000
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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.