EURUSD finally appears to have reversed. The big Bullish candle has engulfed the previous days' bearish candlestick which indicated that EURUSD might have bottomed out.
In the lower time frame too, it has broken the 100H EMA with a strong bullish impulse(check the idea that I have attached below to see how I was tracking EURUSD's reversal with the hourly chart).
So, traders can now continue to Buy the dips between 1.0818-1.0840 with SL below 1.0710. TPs can be placed at 1.10 and 1.1180 respectively.
Comment
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First TP reached. 1.10 180 pips gain from this set-up
USOIL/WTI 4d chart review best level to short 20% gains (NEW)
daltray
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Thanks. This strengthens me beside my analysis
Boon2
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EURUSD H4 Correction
UnknownUnicorn12321
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Good but what about coronovirus and its impact on Europe especially with Italy becoming the epicenter in Europe. USD is strong and euro is weak. Technicals are saying one thing but fundamentals are saying something else. Plus, majority of the retail traders are long and majority is almost always wrong. Only time will reveal. What do you guys think?
YourLazyTrader
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@legend25, Yes time has revealed. The idea was spot on
UnknownUnicorn12321
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@ProCFDTrader, Yup! It did.
agreenleaf1
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Thanks great analysis. Just going to wait for the expected pullback then place my entry.
YourLazyTrader
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@agreenleaf1, That's very good. Pretty sure there will be a pullback