EURUSD - WEEKLY-TEST TREND @1.118 [PIN]
It is early morning now - And, I have been looking at the USDs
Everyone loves a USD trade - Surely, the EURUSD is the most traded, right?
After reviewing my EURUSD chart - I found this...
And, the Monthly, as always....
A Bearish Trendline in place since 2008
The Break-Out & a quick retest happened The back-end of 2020
Any Buyers on the lower timeframes will have profited from this - Hope you was one?
Either way - The market pushed up, but the last several months has proceeded to drop
...
...
Current Day - The aforementioned Trendline is still in place and the market tested this again in November
Closing out the month of December with a Bullish Pin-Bar
And now - The Weekly Timeframe - It pretty much matches the Monthly and the aforementioned Analysis
This makes life a whole lot easier
...
....
Let's visit the Daily ...
Identifying a Descending Wedge - But, its a tight affair
We have a Range of about 300 pips - But, them CS' are looking averagely sized
...
...
Personally, A break above the 1.149 Resistance would present Buy Opportunities
If you are a risky trader - Have a look at the H4 for an early entry for a Buy - Bearish Trendline Resistance
...
Alternatively, The shorts may be found below - With a close below the 1.118 and a re-test of the confluence of this level - ah?
Lets see people...
Either way - Its on the radar
If you have taken your time to review my Technical Analysis - I praise you!
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.