Good Evening traders,
(1)
This is my point of view on the EUR/USD (Daily Chart), as we can see:
- Price still under 20 - 50 EMA ( still Bearish ).
- Cup & handle shape about to finish forming.
- B/R Support area around 1.15890 - 1.15540, Expecting bounce or continuation of the downtrend to hit the major support.
- Major Support at around 1.14737, Expeting a bounce back up to retest the 1.15890 - 1.15540 area, then down we go to the our next support area.
Wait for re-entry around the B/R area ( 1.15890 - 1.15540 ).
(2)
Another poing of view:
Price might hit the Support area at the end of the upside-down cup & handle (B/R Support area around 1.15890 - 1.15540) then bounce back up to the 1.20400-1.20750 area & down after that forming a head & shoulder pattern, where the ( B/R Support area around 1.15890 - 1.15540 ) will be the neck line.
please feel free to comment below on my analysis, I'm a beginner & I'm here to learn.
Comment:
Price is moving smoothly in the same direction as the analysis.