EURUSD H1 09/12/2024 - SELL below 1.0550 OR BUY above 1.05850
Multi-Timeframe Analysis
D1 (Daily Timeframe)
Trend:
Price is consolidating below the Ichimoku Cloud and the 200 SMA, indicating medium-term bearish pressure but with bullish momentum building.
Indicators:
RSI (14): 45.3, neutral.
Stochastic (14,3,3): Overbought (near 82), signaling caution for immediate longs.
MACD (12,26,9): Bearish histogram narrowing, indicating reduced selling pressure.
Key Levels:
Resistance: 1.0580–1.0600.
Support: 1.0525, 1.0490 (recent swing lows).
H4 (4-Hour Timeframe)
Trend:
Mild bullish recovery as price moves above the Ichimoku Cloud, but capped by the 200 SMA at 1.0580.
Indicators:
RSI (14): 53.6, neutral-bullish.
Stochastic (14,3,3): Bearish crossover, signaling short-term weakness.
MACD (12,26,9): Weak positive histogram; momentum is waning.
Key Levels:
Resistance: 1.0580–1.0600 (top boundary).
Support: 1.0550, 1.0525.
H1 (Hourly Timeframe)
Trend:
Price has consolidated after a bullish breakout but faces resistance at 1.0580.
Indicators:
RSI (14): 51.3, neutral.
Stochastic (14,3,3): Overbought, signaling potential for a pullback.
MACD (12,26,9): Negative histogram after bearish crossover, suggesting weakening momentum.
ATR (14): 13 pips, indicating moderate volatility.
Key Levels:
Resistance: 1.0580–1.0600.
Support: 1.0550, 1.0525.
M30 (30-Minute Timeframe)
Trend: Similar to H1, consolidation within a narrow range below 1.0580.
Indicators: RSI and Stochastic are in overbought territory; MACD is flat to bearish.
Volatility: ATR confirms that volatility has subsided after recent upward movement.
Trade Scenarios:
Scenario A: Bullish Breakout (BUY Setup)
Rationale: If the price breaks above 1.0580, it could target the next resistance level at 1.0600 and higher, supported by bullish momentum.
Setup Details:
Entry Price: Above 1.0585 (breakout confirmation).
Stop-Loss: 1.0560 (below recent support).
Take-Profit Levels:
TP1: 1.0600.
TP2: 1.0620 (Daily resistance level).
Risk/Reward Ratio: ~1:2.
Scenario B: Bearish Reversal (SELL Setup)
Rationale: If the price breaks below 1.0550, it could target the support levels at 1.0525 and lower.
Setup Details:
Entry Price: Below 1.0550 (breakdown confirmation).
Stop-Loss: 1.0575 (above recent highs).
Take-Profit Levels:
TP1: 1.0530.
TP2: 1.0520.
Risk/Reward Ratio: ~1:2.
D1 (Daily Timeframe)
Trend:
Price is consolidating below the Ichimoku Cloud and the 200 SMA, indicating medium-term bearish pressure but with bullish momentum building.
Indicators:
RSI (14): 45.3, neutral.
Stochastic (14,3,3): Overbought (near 82), signaling caution for immediate longs.
MACD (12,26,9): Bearish histogram narrowing, indicating reduced selling pressure.
Key Levels:
Resistance: 1.0580–1.0600.
Support: 1.0525, 1.0490 (recent swing lows).
H4 (4-Hour Timeframe)
Trend:
Mild bullish recovery as price moves above the Ichimoku Cloud, but capped by the 200 SMA at 1.0580.
Indicators:
RSI (14): 53.6, neutral-bullish.
Stochastic (14,3,3): Bearish crossover, signaling short-term weakness.
MACD (12,26,9): Weak positive histogram; momentum is waning.
Key Levels:
Resistance: 1.0580–1.0600 (top boundary).
Support: 1.0550, 1.0525.
H1 (Hourly Timeframe)
Trend:
Price has consolidated after a bullish breakout but faces resistance at 1.0580.
Indicators:
RSI (14): 51.3, neutral.
Stochastic (14,3,3): Overbought, signaling potential for a pullback.
MACD (12,26,9): Negative histogram after bearish crossover, suggesting weakening momentum.
ATR (14): 13 pips, indicating moderate volatility.
Key Levels:
Resistance: 1.0580–1.0600.
Support: 1.0550, 1.0525.
M30 (30-Minute Timeframe)
Trend: Similar to H1, consolidation within a narrow range below 1.0580.
Indicators: RSI and Stochastic are in overbought territory; MACD is flat to bearish.
Volatility: ATR confirms that volatility has subsided after recent upward movement.
Trade Scenarios:
Scenario A: Bullish Breakout (BUY Setup)
Rationale: If the price breaks above 1.0580, it could target the next resistance level at 1.0600 and higher, supported by bullish momentum.
Setup Details:
Entry Price: Above 1.0585 (breakout confirmation).
Stop-Loss: 1.0560 (below recent support).
Take-Profit Levels:
TP1: 1.0600.
TP2: 1.0620 (Daily resistance level).
Risk/Reward Ratio: ~1:2.
Scenario B: Bearish Reversal (SELL Setup)
Rationale: If the price breaks below 1.0550, it could target the support levels at 1.0525 and lower.
Setup Details:
Entry Price: Below 1.0550 (breakdown confirmation).
Stop-Loss: 1.0575 (above recent highs).
Take-Profit Levels:
TP1: 1.0530.
TP2: 1.0520.
Risk/Reward Ratio: ~1:2.
Note
BUY triggered @ 2:30PM BST
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