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YourLazyTrader
Apr 11, 2023 4:07 AM

Is EUR/USD on it's way towards 1.1030? 

Euro Fx/U.S. DollarFXCM

Description

Over the last 2-3 days, EUR/USD was in a pullback phase. However, looking at the chart,
it seems the pullback phase in EUR/USD is now over and it has resumed it's uptrend.

Price has bounced off the 1.0830 dynamic support level in the 4Hour chart. Currently, there is
no resistance until 1.0970 and a bigger resistance lies above at 1.1030.


So, I do not recommend traders to sell EUR/USD at the current level. If bearish price action along
with rejection candles form at the 1.1030 resistance level that I have highlighted in my chart, traders
can consider selling EUR/USD.

Probable Trade Signal
Sell EURUSD@1.1030
Stop Loss(SL): 1.1080
Take Profit(TP): 1.0870
Comments
P_S_trade
Thanks for sharing your vision
emillyricci
Your analysis is always neat and clean
MarsSignals
that was great
RLinda
Great look at the situation with a good description! From a professional point of view it would be interesting to know in what order, what steps you use when analyzing an asset)
UnitedSignals
Noted, thank you!
BKTradingAcademy
Thanks for your outlook.
Williamforex
perfect setup
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