EURUSD - The Buy Pressure
Updated
EUR/USD continues its upward trend, reaching a two-week high amid growing expectations of a 50 basis point rate cut by the Federal Reserve. This narrows the interest rate gap with the ECB, which ruled out further cuts for October.
Generally, the direction is uptrending.
Uptrend Side: The EUR/USD reversed from its breakout, rising and stabilizing above 1.1140. As long as the price remains above this level, it will attempt to reach 1.1179. A move above 1.1179 will lead to consolidation between this level and the resistance at 1.1241.
Correction: currently the price is trading in the down correction
Downtrend Side: If the price faces negative pressure and closes the 4H candle below 1.1140, it will try to touch 1.1080. A breaking under this level by a 1D candle will start the bearish step.
Tendency Keys: 1.1140
Generally, the direction is uptrending.
Uptrend Side: The EUR/USD reversed from its breakout, rising and stabilizing above 1.1140. As long as the price remains above this level, it will attempt to reach 1.1179. A move above 1.1179 will lead to consolidation between this level and the resistance at 1.1241.
Correction: currently the price is trading in the down correction
Downtrend Side: If the price faces negative pressure and closes the 4H candle below 1.1140, it will try to touch 1.1080. A breaking under this level by a 1D candle will start the bearish step.
Tendency Keys: 1.1140
Trade active
The price has closed the 6H below 1.1140, indicating that any further attempts will likely target the next support level at 1.1080.
Trade active
It appears that the price is ending its corrective decline and is attempting to stabilize above 1.1140 once again to follow the uptrend side.
Trade closed: target reached
After significant movement between the 1.1080 and 1.1140 levels, the price successfully broke through 1.1140 and advanced towards our target at 1.1179. Upon reaching 1.1179, the price began to decline, initiating a correction. In my view, once this correction concludes, the price will likely continue rising to stabilize above 1.1179 and reach 1.1241.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.