EUR/USD, the analysis you have all been waiting for!

FX:EURUSD   Euro / U.S. Dollar
Dear traders, happy new trading week! We have been receiving multiple requests to post an analysis on EUR/USD , so here it is! As we can clearly observe from the chart, the price has successfully broken and re-tested the local structure level. As it is stated in the books, a trend reversal happens if the price fails to print new Lower Lows/Higher Highs. In the case of EU, the price has broken and re-tested the area of the previous Lower Low. However, taking a look at the higher timeframes, we can see that the sentiment of the market is still bearish . Therefore, as of right now we are only aiming for short-term BUY positions for our favourite pair. We will be closely monitoring the pair and look for sings of bullish movements, before opening long positions and aiming for the zone identified on the chart.

Happy trading, everyone!

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