EUR USD Forecast – Forex Trading Easy
Price had passed the H4 trendline and now it’s being target 1.3734 – 1.3750 area. If this pair break resistance 1.3480 we will see next intermediate resistance at 1.3570. If price couldn’t break that area, then we will see nearest support at level 1.3455. If the pair goes below level 1.3350, an bullish trend is supposed to be replaced by bear.
An uptrend having the target of 1.3734 – 1.3750 had been developed at H4 graph. Upon reaching the stated level, there are 3 scenarios of events to follow:
Refer to yellow arrow , if the pair rises above level 1.3800 (breaks the purple trendline), then target 1.4360 will be reached.
Refer to red arrow, if the pair bounces off level 1.3734 – 1.3750 (purple trend line), a double top turning figure will be formed having its basis at level 1.3112. Upon the bounce off 1.3734-1.3750, support at 1.3110 will be reached, after that the pair will bounce again and up to level 1.3650(approximately), then break the purple trendline and reach level 1.4360.
Refer to blue arrow, if after the bounce off 1.3750 and reaching the figure’s basis at level 1.3110 the pair goes under this level, it will reach an intermediate support.
I’m currently hold long position. How about you guys?
Sincerely,
Forex Trading Easy
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wow. that is a great deal of information. I do not even know if I could do all that. And thank you so much for letting me in on all the info.