EUR/USD 1H Analysis: Bullish Momentum Building?
On the 1-hour chart, the recent price action shows promising signs of bullish continuation. Here’s the breakdown of my thought process:
1️⃣ Exponential Moving Averages (EMA 20, 50, 100, 200):
Price has successfully broken above these key moving averages, suggesting a shift in market sentiment toward the bulls. The EMA 200 in particular, often viewed as a long-term trend filter, indicates a potential reversal or continuation.
2️⃣ Break of Structure (BOS):
A clear BOS below confirms a bullish bias, with price now moving higher while respecting ascending trendlines.
3️⃣ Bullish Price Range (BPR):
The blue zone represents a strong supply area where sellers previously dominated. A break and close above this level would validate further upward momentum.
4️⃣ Support Zones:
Multiple confluences at the green zones (1.0190–1.0250) provide robust support for price action. This area is critical for bulls to defend.
5️⃣ RSI:
Momentum is strengthening, and RSI remains in bullish territory without entering overbought zones, providing room for further movement.
Trade Plan:
🔹 Entry: Look for a pullback to the ascending trendline or the 1.0250 support zone, with bullish confirmation (e.g., bullish engulfing candlesticks or volume spikes).
🔹 Target 1: 1.0400 – Initial resistance.
🔹 Target 2: 1.0480 – Key swing high for the next significant resistance.
🔹 Stop Loss: Below the support zone at 1.0220 to protect against false breakouts.
Key Considerations:
Watch how price reacts at the blue BPR zone; failure to break higher could signal consolidation or reversal.
Keep an eye on macroeconomic events or EUR/USD news that could influence market sentiment.
Let me know your thoughts and feel free to share your perspectives. 🚀📊
On the 1-hour chart, the recent price action shows promising signs of bullish continuation. Here’s the breakdown of my thought process:
1️⃣ Exponential Moving Averages (EMA 20, 50, 100, 200):
Price has successfully broken above these key moving averages, suggesting a shift in market sentiment toward the bulls. The EMA 200 in particular, often viewed as a long-term trend filter, indicates a potential reversal or continuation.
2️⃣ Break of Structure (BOS):
A clear BOS below confirms a bullish bias, with price now moving higher while respecting ascending trendlines.
3️⃣ Bullish Price Range (BPR):
The blue zone represents a strong supply area where sellers previously dominated. A break and close above this level would validate further upward momentum.
4️⃣ Support Zones:
Multiple confluences at the green zones (1.0190–1.0250) provide robust support for price action. This area is critical for bulls to defend.
5️⃣ RSI:
Momentum is strengthening, and RSI remains in bullish territory without entering overbought zones, providing room for further movement.
Trade Plan:
🔹 Entry: Look for a pullback to the ascending trendline or the 1.0250 support zone, with bullish confirmation (e.g., bullish engulfing candlesticks or volume spikes).
🔹 Target 1: 1.0400 – Initial resistance.
🔹 Target 2: 1.0480 – Key swing high for the next significant resistance.
🔹 Stop Loss: Below the support zone at 1.0220 to protect against false breakouts.
Key Considerations:
Watch how price reacts at the blue BPR zone; failure to break higher could signal consolidation or reversal.
Keep an eye on macroeconomic events or EUR/USD news that could influence market sentiment.
Let me know your thoughts and feel free to share your perspectives. 🚀📊
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.
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.