Hi there
Bringing our study from the Daily to the 2 hourly chart, and following the trend-line inside the stochastic upon a price-chart, we can see now what area zones the price might reject upon.
The 0.5 and 06 are the closest significant support areas for price targets if the price breaches below 0.236.
And since price momentum is consolidating in view of the stochastic, we conclude that EURUSD is a high-risk set-up.
Bringing our study from the Daily to the 2 hourly chart, and following the trend-line inside the stochastic upon a price-chart, we can see now what area zones the price might reject upon.
The 0.5 and 06 are the closest significant support areas for price targets if the price breaches below 0.236.
And since price momentum is consolidating in view of the stochastic, we conclude that EURUSD is a high-risk set-up.
Trade closed: target reached