EURUSD Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
Uptrend.
The price rose to a level that is significant on the monthly chart, pulled back, and is now attempting to rise again.
Daily
Uptrend.
The price broke above the origin of the most recent low and has formed higher highs and higher lows.
There is potential for the price to reach the level marked on the monthly chart.
4-Hour
Uptrend, possibly in wave 5.
There was no reaction at the previous high, but the price rebounded from around the 60% retracement level of wave 3.
1-Hour
Uptrend.
Wave 5 may have completed.
The market might now enter a range or experience a temporary decline.
Trade Strategies
Strategy①
Wait for the price to pull back to the previous high on the 1-hour chart and consider a long entry.
If the correction deepens beyond that, skip the trade.
Strategy②
Wait for a pullback to the origin of the last 1-hour high and consider a long entry from there.
