EURUSD: Multi Time Frame Analysis & Two Scenarios Explained
morning guys,
EURUSD is consolidating on a strong daily structure and based on a current market sentiment we have two potential trading scenarios.
bullish:
I am still bullish biased and due to a nice convergence of a daily/1H support and a rising trendline I still believe that the price can bounce.
our trigger for long trade will be a double bottom formation on 1h,
the underlined minor horizontal resistance should be broken to the upside.
then buy entry on retest of the broken structure with initial target 1.084 / second target 1.0875
bearish:
however, a lot of news with fundamental statistics today, so the bearish scenario is highly possible as well.
daily candle close below the underlined structure will most likely signify a bearish continuation.
confirmed structure breakout will push the price to 1.069 - current daily lower close with a potential continuation to 1.064 - current low.
what do you think will happen?
✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
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.