EURUSD Prediction for 01 MAR 24 upcoming weekEURUSD is one of the most traded Forex instruments with good volume activity.
If we look at the chart:
The market has been trading in the consolidation phase. Then it gave a breakout last week, 24th Feb. After that, the market has been in the range (1.07972 - 1.08576) bound situation.
Case 1: The market is going to be sideways unless it's broken to the upside.
Case 2: Once it breaks to the upside, it's going to give a nice bull trend till 1.09825 levels. it is showing a perfect entry level for a bullish position with Risk : Reward = 1:5
we can initiate a bullish position @1.08239
Reasons:
Bullish Hammer formation at the support shows the market's bullish structure.
Price ~ 200 EMA, which indicates the market is having an average price.
RSI = 45 shows a weak bull sign. The market is not going to have a bullish momentum unless the RSI is broken 60 to the upside.
Verdict: Bullish
Plan of Action:
Buy: 1.08238
SL: 1.07935
Target: 1.09835
Eurusdtechnicalanalysis
EUR USD SHORT Sept #3
Risk 0.5%
TP1 = 1:2 RR
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Eurusd is short or what? For me i am looking for short because of higher time frame analysis. Here is my short setup for this week, if you have no idea for this week just follow it's upto you. Wait for price to reach the upside zone in NEW YORK session then look for double top in that zone area(basically first candle rejected + next candle close below the zone+ again some retest rejection from the zone) then take the setup. Keep the stoploss above the zone and target 1:3 are the below mentioned zone thank you.