EURUSD Price Action Breakdown

FX:EURUSD   Euro / U.S. Dollar
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Forecasting in forex helps us prepare as well as possible for a potential entry and reduce the chance that emotions will affect us. Forecasting should be done at least twice every day, in the morning and night. On the weekends, you can do the forecast only once. Higher and lower timeframes should be analyzed during the weekends in preparation for the coming week.

1D timeframe chart breakdown

1)Daily Timeframe shows us that the price moved in a long downtrend.

2)At the end of the downtrend, we see that the price has made a Change of Character, and we notice the presence of Bullish Orderflow, which indicates that we can expect the beginning of an uptrend.

3)After a long downtrend, the price finally breaks the descending structure with strong bullish momentum, which indicates that we can expect the beginning of an uptrend.

4)After the bullish momentum, we see that the price has slowed down with the momentum (weakness), but again we see the presence of bullish order flow + EURUSD has the characteristic of going up impulsively from this kind of price action + it has a lot of liquidity to pick up.

5)In the end, the price is bullish, but it can easily change to bearish

1D timeframe forecast:

1)We see a nice change of character after a long downtrend, nice bullish momentum, bullish order flow, and we can expect the price to continue bullish.

2)The price has left wicks that tell us that the price has no more momentum to continue upward, and we expect a reversal to happen.

3)If we see a corrective pullback, wicks will be respected, and we can expect a continuation of the uptrend.

4H Timeframe chart breakdown

1)We see that we are moving in a longer ascending channel, and we see that: we are placing new HHs; we make impulses, corrections, impulses, which indicates that we will continue to move in the ascending channel.

2)But this is EURUSD, and we know we can expect to see a smaller ASC PA after this PA and see a trend change or continuation to the upside from this PA.

3)In the end, we have no bias, and we look at what will most likely happen and react to it.

4H timeframe forecast:

1)We see that the price is placing new HHs, and we notice an impulse correction impulse movement, so we can expect the price to continue to place new HHs and continue bullish.

2)After a longer ASC channel, EURUSD likes to make a smaller ASC PA and then change the trend, so we can expect that.

1H timeframe chart breakdown:

1) Currently, we see a very corrective PA; the price is between high and low.

2) we also see that the price moves from des PA to asc PA, which indicates a correction.

1H timeframe forecast:
1) Here, we expect a correction because everything points to it

2) There is a chance that the price will go bullish because they make an inverted head and shoulders pattern, but we do not want to trade in such a PA

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