Although the euro zone has been experiencing quite a bit of political uncertainty this year, the Euro has not given up much ground against the dollar; whereby price has not been able to break the 1.0500 handle for the past few weeks, and thus for the short term, I remain bullish on this pair.

Eur/usd Daily chart

Price had created a very large bullish candle coming off 1.0500, which is also the MM2 area, a bullish entry a zone, with target of MM4. Thus I am looking for a pull back before entry. I have marked out many levels of support ( in green), but i am eyeing the 1.0550 mark.

Eur/usd H4 chart

Price has come off WM3, which is a bullish entry zone, with target way below 1.0500; however price has stalled just above WM2, which is a bullish entry zone; thus I am looking for an entry around WM2, which is also the 1.05500 psyche level, as well it being the bullish 61.8 fib retracement level, as well as a level of significant support from the past (shown in green). We also have an oversold H4 stochastic, which looks as though it may turn to the upside.

Eur/usd H1 chart

Price is opening below dpp, so further downside momentum is a possibility, and I will be cautious; however price is moving to Ds1, which is also WM2, as well as support from the past, it is also the 61.8 fib level and as mentioned before also holds the psyche number of 1.05500. Should we get to this area. I will look for reversal patterns on lower time frames for an entry.

One thought on “Eur/usd daily long”

  1. Teboho L Faro says:

    Great analysis man

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