1οΈβ£ Triangle breakout was expected 2οΈβ£ Retest was expected around 1.22100 3οΈβ£ Risk off mode and Rising of virus infection around the Europe/concern here 4οΈβ£ 1.23000 Key psychological resistance 5οΈβ£ Price was trading within 130 pips 6οΈβ£ Series of lower side trend line support from 1.20600 7οΈβ£ Technical support - Bullish 8οΈβ£ Price is above POC-VOLUME 9οΈβ£ December high-Immediate resistance π Weak DXY- Downward pressure- Positive for Euro #οΈβ£ Overall bullish trend
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π Technical bias-H1-Bullish
Price is above 50,100,200 Exponential moving average 100,200 acting as immediate support, Possible entry point-1.21800 Relative strength index - Reached around 60- overbought fallback expected MACD -Turn green, Oscillators pointing upward, Strong bullish signal Stochastic - Reached below 75 level -Short term bearish trend Ichimoku cloud -cloud is turned green-Cloud support for bull Bollinger band- Price is reached around upper side of the band-Minor fallback was expected towards middle band
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Key reversal area's 1.22000 Key psychological level 1.22750 December month high 1.22560 Previous week high 1.21600 Previous week low 1.21000 Key psychological level 1.21800 immediate trendline support 1.21800 Possible entry- Bullish
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Bullish entry #EURUSD #euro
Entry price - 1.21800
Take profit 01 - 1.22300 (50 pips) Take profit 02 - 1.22800 (100 pips)