EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
The price bounced slightly above the previous high and is now attempting to reach a new high again.
Daily
Uptrend.
The price is consolidating without being able to break above the recent high.
4-Hour
Uptrend.
The recent high was rejected with a long upper wick.
Watch to see whether the price will be rejected again or break through when it approaches that level once more.
1-Hour
The last swing high has not been broken with a candlestick body, so the current bias remains bearish.
Trade Strategies
Strategy①
Contrarian short on the 4-hour chart / Trend-following short on the 1-hour chart.
Price is currently at the top of the 1-hour range, so aim for a short trade targeting the bottom of the range.
Strategy②
Counter-trend long on the 1-hour chart.
If a trend reversal occurs on the lower timeframe near the bottom of the range, consider a long targeting the upper edge of the range again.
