Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of EurUsd💪
The monthly timeframe on EurUsd is pretty clear with EurUsd currently retesting massive previous support which is now turned resistance at the psychological $1.1 level.
With weekly market structure being bullish though, threre is no overall confluence at the moment so following the overall longer term picture I do expect a move lower now.
And it seems like EurUsd is finally breaking daily support towards the downside - I am then just waiting for a clean retest and bearish confirmation before I then do expect a daily move lower.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
I think they're accumulating cheap USD ahead of rates increase, plus that winter is coming to Europe, France is burning and the war in Ukraine keeps going.
basictradingtv
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@alastair25, I am not looking at news but thank you ;)
Gold-Tech
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I agree with the priority. We will keep an eye on the market