Euro vs. Dollar - Short Term Swing Trade - 29 March 2022
FX:EURUSD breaks with the confidence downtrend line and pushes the price over 100 pips above the trend line. In the next hours, there is a big chance price to stay choppy and establish a range in the area of 1.1110 - 1.1135, before further pushing upwards.
What are the supported thesis for expected and potential 120 pips upwards from current levels:
- price made a final capitulation at the beginning of March
- there are 5 waves in uptrend from the bottom of 1.0810
- 3 weeks the price makes an accumulation in zone 1.0950 - 1.1050
- breaking a strong 2-month trendline which is a good indication
- big change in the price to target the zone of 1.1250 upper sides of the channel
If you have any related questions to this trading idea I will be happy to give you the answers.
What are the supported thesis for expected and potential 120 pips upwards from current levels:
- price made a final capitulation at the beginning of March
- there are 5 waves in uptrend from the bottom of 1.0810
- 3 weeks the price makes an accumulation in zone 1.0950 - 1.1050
- breaking a strong 2-month trendline which is a good indication
- big change in the price to target the zone of 1.1250 upper sides of the channel
If you have any related questions to this trading idea I will be happy to give you the answers.