EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
The market is in an uptrend.
Although the recent high was briefly broken by a candlestick wick, there hasn’t been a confirmed breakout with a candle close — so for now, the high remains unbroken.
Daily
The weekly chart shows a confirmed breakout above the recent high with a candlestick close.
On the daily chart, the price pulled back once near the previous high, then resumed its upward move aiming for a new high.
4-Hour
There was a downtrend on the lower timeframes within the 1.14050 to 1.16311 range, but a strong upward move broke it.
Now, the focus is on whether the price will form a pullback on the lower timeframes before continuing higher.
1-Hour
The price surged sharply without any noticeable pullbacks.
Trade Strategies
Strategy①
If the price pulls back to around the double bottom’s neckline, I’ll consider a long entry there.
If it keeps rising without any pullbacks, I’ll stay on the sidelines and wait.
