EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
The price has reached the upper boundary of the channel.
Daily
The larger trend is upward.
A downtrend formed from the upper to the lower boundary of the channel, and the price has now returned to the last pullback high line.
4-Hour
The recent major trend is upward.
However, a sharp drop occurred near the last pullback high on the daily chart, and there is a possibility that the trend may shift into a downtrend.
1-Hour
A sharp rise occurred, shifting the outlook upward.
From here, either the third wave of the uptrend will extend, or a downtrend will form on the 4-hour chart if it fails to extend.
Trade Strategies
I will aim for a long position by following the major upward trend on the 4-hour chart.
I will target the third wave of the uptrend on the 1-hour chart, entering after observing price action on the lower timeframes.
Expecting a shift from an uptrend to a downtrend, I am considering an early-entry short position.
I will watch the price action on the lower timeframes, and if selling pressure is strong, I will aim for a short.
Currency Strength
【EURUSD】4H
EUR>USD
【GBPUSD】4H
GBP>USD
【USDJPY】4H
USD<JPY
【EURJPY】4H
EUR<JPY
【GBPJPY】4H
GBP>JPY
【EURGBP】4H
EUR<GBP
USD<EUR<JPY<GBP
