Evening Traders,
Today’s analysis – EURUSD- trading at a key support level that needs to hold for a bullish bias,
Points to consider,
- Price Action Impulsive
- Local OB Support
- Potential Swing Failure
- Swing High Objective
EURUSD’s immediate price action is trading at a key trade location that has technical confluence with the Local OB and the SFP, allowing for a bullish bias.
The immediate objective is the Swing High, exceeding this level will lead to a trend continuation.
The RSI is overextended; a reversion to its mean is imminent on a bounce back.
Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work,
And remember,
“A quiet mind is able to hear intuition over fear.”
― Yvan Byeajee
Today’s analysis – EURUSD- trading at a key support level that needs to hold for a bullish bias,
Points to consider,
- Price Action Impulsive
- Local OB Support
- Potential Swing Failure
- Swing High Objective
EURUSD’s immediate price action is trading at a key trade location that has technical confluence with the Local OB and the SFP, allowing for a bullish bias.
The immediate objective is the Swing High, exceeding this level will lead to a trend continuation.
The RSI is overextended; a reversion to its mean is imminent on a bounce back.
Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work,
And remember,
“A quiet mind is able to hear intuition over fear.”
― Yvan Byeajee