Euraud Analysis
Tool Used
Trends and Support and Resuistance
Bar Chart/ Candlestick Chart
Weekly(RED)
Market Indicating upward trend,price action has touched Primary trendline and is moving up
Side Note- Primary trend proved its strength once market failed to break through this level
Primary levels have been placed as market support/ reversal levels
Daily(Orange)
Trend channel was identified within trends in trends the daily trend indicated Down trend channel Price action is currently playing in
4Hour (Green)
Trend Channel was identified. Price action broke out of trend and formed a smaller trend channel due to price action hitting Stronger trend Channels such as the weekly and daily trends
1Hour(Blue)
Trends in Trends identified, Price action indicating upwards trend, Market reached top to 4hour(green)trend-Market could either break through or reverse downwards
either way a Retest is the safest course of action
Trades will be placed on 15minute Timeframe
Tool Used
Trends and Support and Resuistance
Bar Chart/ Candlestick Chart
Weekly(RED)
Market Indicating upward trend,price action has touched Primary trendline and is moving up
Side Note- Primary trend proved its strength once market failed to break through this level
Primary levels have been placed as market support/ reversal levels
Daily(Orange)
Trend channel was identified within trends in trends the daily trend indicated Down trend channel Price action is currently playing in
4Hour (Green)
Trend Channel was identified. Price action broke out of trend and formed a smaller trend channel due to price action hitting Stronger trend Channels such as the weekly and daily trends
1Hour(Blue)
Trends in Trends identified, Price action indicating upwards trend, Market reached top to 4hour(green)trend-Market could either break through or reverse downwards
either way a Retest is the safest course of action
Trades will be placed on 15minute Timeframe