Looking for long position in EUR/USD
In D1 chart, 200 EMA indicates weak down trend and in H4 and H1 chart, 200 EMA indicates weak up trend. In Longer time frame indicates strong down trend. But, If we looking in W1 chart we see trend is try to change in upward direction. That's why I think, eur/usd pair is going in upward mode.
In H4 chart, we found nice down trendline (blue dot line) and 1.1314 level act lika a strong resistance (red line ), if break those lines, I think this pair next target is 1.1450, 1.1550 or 1.1700 level. But, 1.1100 level is now strong support zone for this pair. That's why we think to buy from 1.1140 - 1.1100 between this level (green bar) or depend on your strategy and our stop loss should be 100 pip far away from our entry point. Or we wait for the down trend line break (blue dot line) for long (buy) entry.
In H4 chart, we found nice down trendline (blue dot line) and 1.1314 level act lika a strong resistance (red line ), if break those lines, I think this pair next target is 1.1450, 1.1550 or 1.1700 level. But, 1.1100 level is now strong support zone for this pair. That's why we think to buy from 1.1140 - 1.1100 between this level (green bar) or depend on your strategy and our stop loss should be 100 pip far away from our entry point. Or we wait for the down trend line break (blue dot line) for long (buy) entry.
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