1/Mar, EURUSD - Technical Analysis
EUR - very bearish due to the outlook for EUR remain heavily titles to the downside as the US continues to turn.
Additionally, Coronavirus also beginning to weight on Europe economic and spread thru Europe with Italy, France, Germany and Spain currently.
USD - Although US policy also clearly to downside, but still growing demand for USD (part of safe-heaven demand) due to uncertainty over the Coronavirus outbreak.
As D1 chart, the price reach Very high Supply zone which is a caution for short.
H4, current price level reach a turning point from very strong support level to resistant level, short.
M15, Supply zone created which mean opposing previous Demand, may consider "set and forget" (freshness touch for the Supply zone - short), but still need carefully for M15 - 1.10013 daily upside POC or bank some money for this area as 1st profit target.
Once H4 success opposing Demand zone and create new Supply zone , EURUSD is time to short for long term.
Additionally, Coronavirus also beginning to weight on Europe economic and spread thru Europe with Italy, France, Germany and Spain currently.
USD - Although US policy also clearly to downside, but still growing demand for USD (part of safe-heaven demand) due to uncertainty over the Coronavirus outbreak.
As D1 chart, the price reach Very high Supply zone which is a caution for short.
H4, current price level reach a turning point from very strong support level to resistant level, short.
M15, Supply zone created which mean opposing previous Demand, may consider "set and forget" (freshness touch for the Supply zone - short), but still need carefully for M15 - 1.10013 daily upside POC or bank some money for this area as 1st profit target.
Once H4 success opposing Demand zone and create new Supply zone , EURUSD is time to short for long term.
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