EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
The price is currently at the upper boundary of the ascending channel, so swing traders may start placing sell orders.
Daily
Uptrend.
The price has rebounded at the lower boundary of the ascending channel and is gradually rising.
4-Hour
The larger trend is upward.
Currently, a downtrend has formed on the lower timeframes, moving from the upper to the lower boundary of the channel.
1-Hour
Downtrend.
The price is currently near the recent low.
If it breaks below this level, there is a high possibility of a decline toward the next 4-hour resistance line.
Trade Strategies
I will watch the price action at the 4-hour swing low and the lower boundary of the ascending channel to look for a pullback buy.
Looking at the USD/JPY price action, there is a possibility that the dollar will be bought further, so if the 4-hour swing low line is broken, I will aim for a short.
Beware of false breakouts.
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
GBP<JPY<USD<EUR
