Hello. I hope you are having a good day. here is my breakdown of EU
Price has reacted to the 1.12 level as expected. We have seen a balance between buyers and sellers since four weeks ago. Volatility is decreasing, which means we should be waiting for a big candle and since the FOMC meeting a couple of days ago was not so much in favor of USD, I'm expecting the big candle to form very soon, could be even next week!
Two supply zones are currently above the price at Fibonacci levels, which tells us we can go short from those levels and continue the overall trend. The 4 Doji (?) candles show us the sellers have lost control, making more sense to the whole idea. This idea is good if you're a long-term trader with a lot of patience.
Once the price reaches the 1.08 level, we can expect it to bounce off and return to the 1.12 level. But we are never sure of what will happen, so always remember not to trade without proper risk management. Good luck!
Price has reacted to the 1.12 level as expected. We have seen a balance between buyers and sellers since four weeks ago. Volatility is decreasing, which means we should be waiting for a big candle and since the FOMC meeting a couple of days ago was not so much in favor of USD, I'm expecting the big candle to form very soon, could be even next week!
Two supply zones are currently above the price at Fibonacci levels, which tells us we can go short from those levels and continue the overall trend. The 4 Doji (?) candles show us the sellers have lost control, making more sense to the whole idea. This idea is good if you're a long-term trader with a lot of patience.
Once the price reaches the 1.08 level, we can expect it to bounce off and return to the 1.12 level. But we are never sure of what will happen, so always remember not to trade without proper risk management. Good luck!
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.