EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
The recent high was broken by a candlestick wick.
Daily
Uptrend.
The weekly high has been broken by a candlestick body.
The price is currently in a pullback phase.
4-Hour
Uptrend.
Within the range of 1.14050 to 1.16311, a downtrend has formed on the lower timeframes.
The price is currently pulling back to the price zone that had previously acted as a range and was closely watched.
1-Hour
Downtrend.
In the short term, I want to look for selling opportunities,
but looking at the higher timeframes, it’s unclear when an upward move might start,
so entering here carries some risk.
Trade Strategies
Strategy①
If the price makes a corrective upward move from the current level,
consider a short entry targeting the price zone that is likely to act as resistance in the short term.
Strategy②
Watch for price action around a support line and consider a long entry.
If the price rises from the current level and the 1-hour trend perspective shifts bullish,
that would be even better.
