Potential bullish Euro setup
Hello traders,
a new week is about to begin , and it's worth to check what the EURUSD has been doing. We are currently sitting on a consolidating phase that will soon subside. Since the early days in June, we have been moving slightly lower, being supported at the 1.12 level. All attempts to move below that level have failed, but also all attempts to make it move above the 1.1340-1.1310 level. Accumulation is taken place, the question is which side is stronger. From a weekly perspective, we closed this week above the 22-6 week PoC zone (situated in the area in yellow) , which tell us that buying might be stronger. Adding to this, each day of this previous week saw the daily PoC resting just above that previous weekly PoC.
Attempts to break the 1.12 level just brought more buyers, and we are now sitting in the middle of the range. I remain cautiouneusly bullish based on what was described above. Any push with conviction through the red area should be seen as bullish activity, and any selling with conviction through the 1.12 level should attract more selling.
a new week is about to begin , and it's worth to check what the EURUSD has been doing. We are currently sitting on a consolidating phase that will soon subside. Since the early days in June, we have been moving slightly lower, being supported at the 1.12 level. All attempts to move below that level have failed, but also all attempts to make it move above the 1.1340-1.1310 level. Accumulation is taken place, the question is which side is stronger. From a weekly perspective, we closed this week above the 22-6 week PoC zone (situated in the area in yellow) , which tell us that buying might be stronger. Adding to this, each day of this previous week saw the daily PoC resting just above that previous weekly PoC.
Attempts to break the 1.12 level just brought more buyers, and we are now sitting in the middle of the range. I remain cautiouneusly bullish based on what was described above. Any push with conviction through the red area should be seen as bullish activity, and any selling with conviction through the 1.12 level should attract more selling.
Transaction en cours
So far, so good.....
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.