Description
⋅ Evening Traders,
Today’s analysis – EURUSD – trading above its Daily S/R, confirming a swing low failure will be considered bullish.
Points to consider,
- Price Action Impulsive
- Daily S/R Support
- .618 Fibonacci S/R
- Swing High Objective
EURUSD’s immediate price action is pivotal, holding this current .618 Fibonacci S/R will allow for a bullish bias.
The Daily S/R has been respective as support, holding this low is critical for a confirmed trend change.
The objective is the Swing High, exceeding this level will increase the probability of testing the Local S/R Zone.
Overall, in my opinion, EURUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps!
Thank you for following my work
And remember,
“Opportunities come infrequently. When it rains gold put out a bucket not a thimble.” – Warren Buffet