EURUSD TECHNICAL ANALYSIS 1HOUR CHART NEXT MOVE POSSIBLE
This chart is a EUR/USD 1-hour timeframe analysis, showing a potential bullish setup.
Key Observations:
1. Uptrend Line: A trendline is drawn, supporting the price movement upward.
2. Support & Resistance Zones:
A red zone (resistance turned support) where price might retest before moving up.
A blue zone (previous demand area) indicating past strong buying interest.
3. Projected Move:
The price is expected to retest the trendline/support zone and then continue upwards.
The target area (green box) around 1.05445 suggests a bullish breakout.
Possible Trade Setup:
Entry: After price retests support and confirms a bounce.
Stop-Loss: Below the 1.04475 level (red line).
Take Profit: Around 1.05445 (green target zone).
It looks like a trend continuation strategy based on higher lows and strong momentum. Do you want to add any details for your audience?
Key Observations:
1. Uptrend Line: A trendline is drawn, supporting the price movement upward.
2. Support & Resistance Zones:
A red zone (resistance turned support) where price might retest before moving up.
A blue zone (previous demand area) indicating past strong buying interest.
3. Projected Move:
The price is expected to retest the trendline/support zone and then continue upwards.
The target area (green box) around 1.05445 suggests a bullish breakout.
Possible Trade Setup:
Entry: After price retests support and confirms a bounce.
Stop-Loss: Below the 1.04475 level (red line).
Take Profit: Around 1.05445 (green target zone).
It looks like a trend continuation strategy based on higher lows and strong momentum. Do you want to add any details for your audience?
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.