EURUSD | Perspective for the new week | Follow-up details
My bias on this pair is contrary to the expectation of the majority as I continue to see a strong bullish move in the nearest future!
Since my last publication on this pair, price did a correction into the bearish trendline (that was broken on 7th of Jan & 2nd Feb 2022) with a strong indication that the bullish momentum is about to begin hence my previous bias still holds (see link below for reference purposes).
Tendency: Uptrend (Bullish)
Structure: Supply & Demand | Reversal pattern (Triple bottom/Breakout) | Trendline
Observation: I. Since the beginning of the last year 2021, the Euro recorded a 9.4% decline against the Greenback to express an emphatic bearish momentum.
ii. And if we look closely at the charts, we will notice multiple attempts have been made to break out of key level @ $1.13500 since the beginning of the year 2022.
iii. Multiple rejections of $1.115 in the last 3 months from buyers make this zone a strong niche for buyers as we can see how the price rejected this area on Friday to set the tone for a reversal move.
iv. I am already in this trade but for those who are still doubtful of this bullish opportunity, a breakout of key level @ $1.13500 remains appropriate to buy... Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 400 pips.
Risk/Reward: 1:5
Potential Duration: 5 to 10days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Since my last publication on this pair, price did a correction into the bearish trendline (that was broken on 7th of Jan & 2nd Feb 2022) with a strong indication that the bullish momentum is about to begin hence my previous bias still holds (see link below for reference purposes).
Tendency: Uptrend (Bullish)
Structure: Supply & Demand | Reversal pattern (Triple bottom/Breakout) | Trendline
Observation: I. Since the beginning of the last year 2021, the Euro recorded a 9.4% decline against the Greenback to express an emphatic bearish momentum.
ii. And if we look closely at the charts, we will notice multiple attempts have been made to break out of key level @ $1.13500 since the beginning of the year 2022.
iii. Multiple rejections of $1.115 in the last 3 months from buyers make this zone a strong niche for buyers as we can see how the price rejected this area on Friday to set the tone for a reversal move.
iv. I am already in this trade but for those who are still doubtful of this bullish opportunity, a breakout of key level @ $1.13500 remains appropriate to buy... Trade consciously!😊
Trading plan: BUY confirmation with a minimum potential profit of 400 pips.
Risk/Reward: 1:5
Potential Duration: 5 to 10days
NB: This speculation might be considered to make individual decisions on the lower timeframe.
Watch this space for updates as price action is been monitored.
Risk Disclaimer:
Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
Trade smart. Trade consciously
