Analysis of #EURUSD
When i first look at my chart i try to identfy trend, are we in an uptrend or down trend, and if the trend is not clear i try to identify structure levels where the market showed me a decisive move before
As you can see from my chart i highlighted some significant levels, currently, traders are not yet willing to let the EURUSD rally above 1.0600, and the market witnessed selling or taking profit at this level.
The same for 1.0500 traders are unwilling to let the market fall below this crucial support level.
For me, I was in a buy then in a sell both hit TP but now these levels are exhausted and this is how i see it that's why i am currently looking for a breakout in either direction.
If the market break and closes above 1.0600 I will be a buyer if the rules for entry are met.
If the market breakout to the downside and comes to test my support zone near 1.03600 i will be a buyer
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
When i first look at my chart i try to identfy trend, are we in an uptrend or down trend, and if the trend is not clear i try to identify structure levels where the market showed me a decisive move before
As you can see from my chart i highlighted some significant levels, currently, traders are not yet willing to let the EURUSD rally above 1.0600, and the market witnessed selling or taking profit at this level.
The same for 1.0500 traders are unwilling to let the market fall below this crucial support level.
For me, I was in a buy then in a sell both hit TP but now these levels are exhausted and this is how i see it that's why i am currently looking for a breakout in either direction.
If the market break and closes above 1.0600 I will be a buyer if the rules for entry are met.
If the market breakout to the downside and comes to test my support zone near 1.03600 i will be a buyer
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
