EURUSD Pullback Before another Leg Up to 1.10
Hey guys how are you all doing?
This is an update for my previous post now in D1 time frame. Last post I set a target around at 1.092 on H4 candle, which I would like to apologize, the time frame was more appropriate for the Daily Candle. I have been gone from FX Markets for quite some time since I became active in crypto, and I guess I was expecting the same price volatility with FX Markets. My bad, again I apologize. And so for my future charts in FX I will give my analysis mainly in D1 unless I see a very good opportunity in the lower Time frames. With that said, let's dive in.
Key Indicators:
Stoch RSI: Showing good movement to the upside starting at the bottom.
RVGI: Trend is shifting to longs
Chart Pattern: The D1 candles are going up at a steep angle with no clear trend line yet. Possible Bullish Continuation at least until Friday.
Price action at H4 shows a pullback, which can go as low as approx. 1.082XX before continuing the leg up
Market Sentiment: Amidst the global pandemic, there is a big shortage of the greenback in the eurozone, with the USD cash selling at a premium. This is reflected in the price movement of the EURUSD pair and is expected to continue for some time.
Fib ratio: The 0.50 fib from the previous downward trend of 1.14950 to 1.06378 is approx at 1.10656. This needs to be hit for the continuation of the price recovery and hence is my 2nd target.
Invalidation: Bullish continuation is invalidated approx. 1.07521
Precaution: The buy volume is dropping in the D1 candle, which may signal a pullback.
If you like my take, even if you don't agree,
PLease LIKE and SUBSCRIBE.
Cheers everyone and Safe Trade :)
This is an update for my previous post now in D1 time frame. Last post I set a target around at 1.092 on H4 candle, which I would like to apologize, the time frame was more appropriate for the Daily Candle. I have been gone from FX Markets for quite some time since I became active in crypto, and I guess I was expecting the same price volatility with FX Markets. My bad, again I apologize. And so for my future charts in FX I will give my analysis mainly in D1 unless I see a very good opportunity in the lower Time frames. With that said, let's dive in.
Key Indicators:
Stoch RSI: Showing good movement to the upside starting at the bottom.
RVGI: Trend is shifting to longs
Chart Pattern: The D1 candles are going up at a steep angle with no clear trend line yet. Possible Bullish Continuation at least until Friday.
Price action at H4 shows a pullback, which can go as low as approx. 1.082XX before continuing the leg up
Market Sentiment: Amidst the global pandemic, there is a big shortage of the greenback in the eurozone, with the USD cash selling at a premium. This is reflected in the price movement of the EURUSD pair and is expected to continue for some time.
Fib ratio: The 0.50 fib from the previous downward trend of 1.14950 to 1.06378 is approx at 1.10656. This needs to be hit for the continuation of the price recovery and hence is my 2nd target.
Invalidation: Bullish continuation is invalidated approx. 1.07521
Precaution: The buy volume is dropping in the D1 candle, which may signal a pullback.
If you like my take, even if you don't agree,
PLease LIKE and SUBSCRIBE.
Cheers everyone and Safe Trade :)
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.