Euro / U.S. DollarUpdated EURUSD Trade Idea
In yesterday's forecast, I expected EU to have further rotation towards 1.2132 key support zone as we need to see the over-extended condition (oversold) attracting more sellers before we could place the buy, which was exactly what the market performed. Currently will be looking for short-term buying opportunities ONLY if 1.2132 support holds. There are two setups I am currently looking at
1. A double bottom rejection at 1.2132 with bullish reversal setup back towards 1.2270 zone.
2. A violation of 1.2174 minor resistance zone with a break & re-test setup (Bullish continuation).
However, as sellers remain strong, if 1.2132 support is breached, it could offer short-term selling opportunities with 1.2060 as the initial target.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. A double bottom rejection at 1.2132 with bullish reversal setup back towards 1.2270 zone.
2. A violation of 1.2174 minor resistance zone with a break & re-test setup (Bullish continuation).
However, as sellers remain strong, if 1.2132 support is breached, it could offer short-term selling opportunities with 1.2060 as the initial target.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Note
Previous analysis
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.