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ShrewdCatfx
Feb 25, 2024 11:29 PM

Eur/Usd Top Down Analysis Feb 24' Short

Euro Fx/U.S. DollarFXCM

Description

Eur/Usd! The reaction off 1.08927 was quite dramatic last thursday and friday.
Intro/Monthly TF 0:0
Weekly Timeframe 4:05
Daily timeframe 6:29
4hr timeframe 9:29
1Hr timeframe 11:33
Price has retraced and since dipped into a 4hr zone 1.08011. It bounced here on friday and the price action consolidated after that. It is possible that we may observe more sideways movement before another continuation. I liken a continuation for buyers because of sentiment moving out of last week due to cad news. It is quite normal to see a reaction off a daily zone like we observed on thursday and friday and it could very well be just a pullback in an uptrend. Caution however!
Not Financial Advice.
Education Purposes Only.

Comment

Turned out be great continuation buys earlier in the week here. We are 1.5 hours away from NY open on 2/26/24 and price has cleared the clean traffic range that extended from 1.0835 to 1.0855. Difficult to discern where we are headed from here. Wll stay flexible with approach.

Comment

End of Monday's trading. Consolidation after price increased to 1.0855 4hr Resistance zone
Comments
jvrfxalerts
Yes, treacherous territory.
ThePippening
Love this analysis brother. Really gives me a good idea of top down analysis. Thank you very much!
ShrewdCatfx
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