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
Uptrend.
The last pullback high of the recent downtrend has been broken to the upside with candlestick bodies.
However, since the price is near the upper boundary of the weekly channel, selling pressure may strengthen from this area.
4-Hour
Uptrend.
The price is currently around the middle of the channel, where it may lose directional clarity.
1-Hour
Downtrend.
The price has currently fallen near the 4-hour swing low.
The question is whether this line will be respected as support.
Trade Strategies
Confirm the price action near the upper boundary of the 1-hour channel and take a short.
Set the recent low as the first target, and if the price breaks below the 4-hour swing low line, aim for the lower boundary of the 4-hour channel.
However, note that the 4-hour chart still shows an overall bullish outlook.
If the 4-hour swing low functions as support, 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
JPY<GBP<USD<EUR
