EURUDS H1 Potential Setups
Key Levels
Trend (D1): The pair is in a long-term downtrend, confirmed by the Ichimoku cloud (price is below the cloud) and the downward slope of moving averages.
Support/Resistance:
Resistance Levels:
1.0580: 61.8% Fibonacci retracement (strong resistance area).
1.0547: Daily resistance.
Support Levels:
1.0448: Previous day’s low and 23.6% Fibonacci level.
1.0332: Monthly low.
H4 Analysis:
Price is consolidating near 1.0510-1.0525, where multiple moving averages, Ichimoku lines, and Bollinger Bands converge.
A breakout above 1.0530 could indicate further upside toward 1.0580.
A breakdown below 1.0490 suggests bearish continuation toward 1.0450 or lower.
H1 Analysis:
Trend: Price is attempting to break resistance at 1.0520 but shows indecision.
RSI (14): Neutral at ~55, indicating room for movement in either direction.
Stochastic Oscillator: Near overbought (67.39), suggesting a possible reversal.
ATR (14): 0.0012 (12 pips), showing moderate volatility.
TRADE SETUPS
Scenario A: Breakout (BUY Setup)
Entry Price: Above 1.0530 (confirmation of breakout above H1 resistance).
Stop-Loss Price: 1.0500 (below local support).
Take-Profit Levels:
TP1: 1.0547 (Daily high).
TP2: 1.0580 (61.8% Fibonacci level on D1).
Risk/Reward Ratio: ~1:2.
Scenario B: Breakdown (SELL Setup)
Entry Price: Below 1.0490 (confirmation of breakdown below H1 support).
Stop-Loss Price: 1.0525 (above local resistance).
Take-Profit Levels:
TP1: 1.0450 (23.6% Fibonacci level).
TP2: 1.0440 (Daily low).
Risk/Reward Ratio: ~1:2.
Trend (D1): The pair is in a long-term downtrend, confirmed by the Ichimoku cloud (price is below the cloud) and the downward slope of moving averages.
Support/Resistance:
Resistance Levels:
1.0580: 61.8% Fibonacci retracement (strong resistance area).
1.0547: Daily resistance.
Support Levels:
1.0448: Previous day’s low and 23.6% Fibonacci level.
1.0332: Monthly low.
H4 Analysis:
Price is consolidating near 1.0510-1.0525, where multiple moving averages, Ichimoku lines, and Bollinger Bands converge.
A breakout above 1.0530 could indicate further upside toward 1.0580.
A breakdown below 1.0490 suggests bearish continuation toward 1.0450 or lower.
H1 Analysis:
Trend: Price is attempting to break resistance at 1.0520 but shows indecision.
RSI (14): Neutral at ~55, indicating room for movement in either direction.
Stochastic Oscillator: Near overbought (67.39), suggesting a possible reversal.
ATR (14): 0.0012 (12 pips), showing moderate volatility.
TRADE SETUPS
Scenario A: Breakout (BUY Setup)
Entry Price: Above 1.0530 (confirmation of breakout above H1 resistance).
Stop-Loss Price: 1.0500 (below local support).
Take-Profit Levels:
TP1: 1.0547 (Daily high).
TP2: 1.0580 (61.8% Fibonacci level on D1).
Risk/Reward Ratio: ~1:2.
Scenario B: Breakdown (SELL Setup)
Entry Price: Below 1.0490 (confirmation of breakdown below H1 support).
Stop-Loss Price: 1.0525 (above local resistance).
Take-Profit Levels:
TP1: 1.0450 (23.6% Fibonacci level).
TP2: 1.0440 (Daily low).
Risk/Reward Ratio: ~1:2.
Note
My TP1 has been achieved with GBP 44.40 profit
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