the European central bank keeps raising rates, the us economy is looming a recession. the daily charts show a strong bullish trend with higher highs forming. the overall condition for EURUSD is to go long.
as we can see price is headed towards the upside and there are other little confirmations that help confirm that price may go even higher. As you can see price is retesting at a daily level with the fib level at.618.
as we can see in the last couple of days price has retraced to support levels. on the Daily timeframe, price is on a huge uptrend. So all we're looking for is a break and retest of support and resistance levels.
as we can see price is on a uptrend on the daily so all were looking for is confirmation to the up side like engulfing candlestick or three candle reversal before we enter a trade.
EURUSD has been on an uptrend for the past week and all we're trying to do here is wait for more confirmation like engulfing candlestick before buying.
as we can see price has retested weekly levels to the upside, all we're looking for is if price seems to bounces off this H4 level we will be taking a trade to the up side.
as we can see, price has been on the downtrend for the past week. and we're seeing price retest a daily structure. so all I'm waiting for is for price to break structure of the hours and retest on the hour before confirming the downtrend.
as we can see here GBPJPY came down to test an H4 high so all we`re doing here is waiting for the price to bounce off or some type of confirmation that the price is going to reverse to the upside.
GJ is in an uptrend, so with that being said, we're hoping the price comes back down to a significant level In the Daily or 4h time frame in order for the price to potentially bounce off and continue to the upside.
As we can see price is on an uptrend on the daily if you move to the lower time frames you`ll see that price has broken recent highs and is retesting for a potential trade to the upside.