The most recognized traded financial asset is at the verge loosing its uptrend to the market structures and results of technical tools. I'll explain below;
Price since October 2022 has been on a bullish run, making HHs and HLs plus breaking supplies/resistance and structures in the past. Note, an uptrend is and would always be guided by a trendline, an ascending TL to be precise, and it's also said in the laws of technical analysis; a trend would be in jeopardy if and when the trendline has been broken or violated! from the looks of this EURUSD weekly perspective? Price has broken trendline, a weekly and monthly violation means that even the lower timeframes have no chance and reason to contrary to the HTF directions.
Secondly, If and when you look at this analysis/market from a different perspective? The bullish structures have been broken, whilst price approaches the last demand being its hope and a reason to fuel an up move which would complete a pattern I'm very much aware of ''a break and retest scenario, of a trendline''. If that move plays out? we'd rally all the way to the yellow bar above which was a resistance since start of 2023 and might probably be a resistance again in its next encounter with price! But, if price bleeds past this demand and region? I guess we'll just crash further, no delay!!!!
Now, Thirdly and an analysis finale (LOL),This demand in caption would be significant, picture this with me because I'm a long termer, Swing trader and I trade and love big waves,
A Forex-Cruiser attribute! This demand and that resistance from the start of 2023 above!!!
If they play their roles as planned? Price stands a chance to perform a well known pattern famously known as the end of any trend, and that pattern is a Head and Shoulders Pattern! which would instantly clear the whole bullish noise and pose a nose dive to the downside, the greenline in the pic being level 1.03241 would be a region for second level targets if we break the major zones(Blue), and then a free fall to parity level being level 1.00000
which houses a demand in confluence with a support or minor key level
Inconclusive, I'm just a technical analyst A.K.A a Forex Trader who uses Price Action techniques to understand and make bills from the market, do your own research on this analysis and hope for the best Price Action to it! To get more of my analysis and learn how to trade the market the way I do? Simply Google @alexraphael00, or check my Youtube channel for more information, Thanks!
Price since October 2022 has been on a bullish run, making HHs and HLs plus breaking supplies/resistance and structures in the past. Note, an uptrend is and would always be guided by a trendline, an ascending TL to be precise, and it's also said in the laws of technical analysis; a trend would be in jeopardy if and when the trendline has been broken or violated! from the looks of this EURUSD weekly perspective? Price has broken trendline, a weekly and monthly violation means that even the lower timeframes have no chance and reason to contrary to the HTF directions.
Secondly, If and when you look at this analysis/market from a different perspective? The bullish structures have been broken, whilst price approaches the last demand being its hope and a reason to fuel an up move which would complete a pattern I'm very much aware of ''a break and retest scenario, of a trendline''. If that move plays out? we'd rally all the way to the yellow bar above which was a resistance since start of 2023 and might probably be a resistance again in its next encounter with price! But, if price bleeds past this demand and region? I guess we'll just crash further, no delay!!!!
Now, Thirdly and an analysis finale (LOL),This demand in caption would be significant, picture this with me because I'm a long termer, Swing trader and I trade and love big waves,
A Forex-Cruiser attribute! This demand and that resistance from the start of 2023 above!!!
If they play their roles as planned? Price stands a chance to perform a well known pattern famously known as the end of any trend, and that pattern is a Head and Shoulders Pattern! which would instantly clear the whole bullish noise and pose a nose dive to the downside, the greenline in the pic being level 1.03241 would be a region for second level targets if we break the major zones(Blue), and then a free fall to parity level being level 1.00000
which houses a demand in confluence with a support or minor key level
Inconclusive, I'm just a technical analyst A.K.A a Forex Trader who uses Price Action techniques to understand and make bills from the market, do your own research on this analysis and hope for the best Price Action to it! To get more of my analysis and learn how to trade the market the way I do? Simply Google @alexraphael00, or check my Youtube channel for more information, Thanks!
