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.
Recently, a downtrend formed from the upper to the lower boundary of the ascending channel, and the price has broken above the upper boundary of that descending channel.
However, the price is currently moving near the last pullback high line of the downtrend, and a clear direction has not yet emerged.
4-Hour
Uptrend.
The price is currently heading toward the upper boundary of the ascending channel, but since the recent high line on the 4-hour chart and the last pullback high line on the daily chart are nearby, there is also a possibility of a trend reversal around this area.
1-Hour
Uptrend.
The price is being capped near the recent high line on the 4-hour chart, but there is still a possibility of further upward movement.
Trade Strategies
If the price drops once to the channel’s lower boundary or the zone that previously acted as resistance, I will look for a pullback buy.
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<GBP<EUR
