EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
The price is currently near the upper boundary of the channel.
Daily
Uptrend.
Currently, the price is moving sideways, and it is taking time to break the previous high.
4-Hour
The price once clearly broke above the range high but was pushed back into the range.
However, since higher highs and higher lows are still forming, the market is currently maintaining an uptrend.
Buying pressure is stronger, but there is still a possibility that a third downward wave may develop.
1-Hour
On the 1-hour chart, the price has broken above the lower high, shifting the outlook to bullish.
The question now is whether a third upward wave will occur, adding momentum to the uptrend on the 4-hour chart.
Trade Strategies
I will look to ride the uptrend on the 4-hour chart and consider a pullback buy, aiming for the third upward wave on the 1-hour chart.
The key price areas I am watching are the trend reversal line on the 1-hour chart and the lower boundary of the channel on the 4-hour chart.
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<JPY<EUR<GBP
