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🟢Forex Pair:
EUR/USD
⚪Technical Analysis:
During the 5th of February 2021, the price got a strong bullish impulse on the dynamic support line of its falling wedge, moving up in a clear uptrend, breaking through its pattern and the resistance zone at about 1.20800.
The trend finally ended once it reached an re-tested the level at about 1.21500.
On the 12th of February 2021, the price re-tested the level at 1.20800, moving quickly up with an in interesting upbar.
The ema 200 is moving very close to the current price and that could mean a possibility of consolidation.
🔴Conclusion:
I'm confident to see the price moving up soon, but the market is actually bouncing between two close S/R zones at 1.21500 and 1.20800, giving us few nice trade opportunities.
I'll be waiting for the breakout of the level 1.21500 before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
EUR/USD
⚪Technical Analysis:
During the 5th of February 2021, the price got a strong bullish impulse on the dynamic support line of its falling wedge, moving up in a clear uptrend, breaking through its pattern and the resistance zone at about 1.20800.
The trend finally ended once it reached an re-tested the level at about 1.21500.
On the 12th of February 2021, the price re-tested the level at 1.20800, moving quickly up with an in interesting upbar.
The ema 200 is moving very close to the current price and that could mean a possibility of consolidation.
🔴Conclusion:
I'm confident to see the price moving up soon, but the market is actually bouncing between two close S/R zones at 1.21500 and 1.20800, giving us few nice trade opportunities.
I'll be waiting for the breakout of the level 1.21500 before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
Comment:
If you are interested, here below my previous analysis:
