Trade Idea
Duration: Intraday
Expires: 02/07/2025 06:00
Technical Overview
Watch for potential volatility from upcoming U.S. events:
Key Technical Levels
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
- Type: Buy Limit
- Entry: 1.3575
- Target: 1.3675
- Stop Loss: 1.3525
Duration: Intraday
Expires: 02/07/2025 06:00
Technical Overview
- A lower correction is expected, providing an opportunity to buy into a potential reversal setup.
- Pivot support at 1.3550 aligns with the Buy Limit entry area, offering a solid technical foundation for a rebound.
- A move above 1.3625 will confirm renewed bullish momentum, supporting a push toward the target at 1.3675.
- The current risk/reward does not favor chasing at higher levels, making buying dips the preferred strategy.
Watch for potential volatility from upcoming U.S. events:
- Fed Chair Powell speech at 14:30 UTC, and
- ISM Manufacturing PMI at 15:00 UTC, which may impact USD flows.
Key Technical Levels
- Support: 1.3550 / 1.3525 / 1.3500
- Resistance: 1.3625 / 1.3675 / 1.3700
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my 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.