EURUSD ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational
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1️⃣ XABCD cypher pattern 2️⃣ Firm break of 1.18000 key kevel 3️⃣ Risk on mode and broad weakness of USD 4️⃣ 1.19000 immediate resistance 5️⃣ Price came within the rising channel 6️⃣ False bearish breakout 7️⃣ Technical support - Bull 8️⃣ Price is around POC-VOLUME-High volume area 9️⃣ September high-Immediate resistance 🔟 Weak DXY- Upward pressure- 1.20000 level eyed #️⃣ Overall bullish trend
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📉 Technical bias-H4-Bearish
Price Above 50,100,200 Exponential moving average 100,200 acting as immediate support, Possible entry point-1.17900 Relative strength index - Reached 70- overbought condition short term fall back expected MACD -Turned green and well above signal line, oscillators pointing upward Stochastic - Reached 75- overbought condition short term fall back expected Ichimoku cloud -cloud is turned green-Price is above the cloud Bollinger band- Price breakout of the band strong bullish momentum
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Key reversal area's 1.18000 Key psychological level 1.18850 October month high 1.16085 September low 1.15000 Key psychological level 1.19000 immediate resistance 1.17900 Possible entry- Bull
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Bullish entry #EURUSD
Entry price - 1.17900
Take profit 01 - 1.18700 (80 pips) Take profit 02 - 1.19200(130 pips) Take profit 03 - 1.20000 (210 pips)