Yesterday we showed that we see possibility for EURUSD pair to go up from our marked support zones.

eurusd-15m

Price did not move exactly to the pip as we projected, but general direction was good. Price overlapped a little bit our blue marked resistance zone at 1.1050, then head back down to 1.1017 and not to psychological level of 1.10 and then we went up again.

eurusd-4h

Now long position looks even better, 4h Stochastic is pointing up already. Next resistance we see at WPP. Our next long entry could be after retrace from WPP to our blue zone, which is at 1.1050 and we marked it already yesterday.

Taking positions before today’s FOMC meeting minutes news is a bit risky. So I suggest waiting for that news, then examining charts again and considering taking position.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.