EURUSD TA for the week of 28 Aug (trading the bullflag)
Mario draghi's speech regarding the eurozone's economic recovery has brought a huge spike above to a fresh 1 year high of 1.1941, well above the major resistance of 1.191.
RSI indicates bullish bias , and severely overbought on the 4h chart.
bullish trend continuation and completed bullflag on the daily with a breakout retest done on the 15 mins chart.
potential retracement back down to demand zone 1.1784 - 1.185 for further upside.
potential targets on the upside at 1.2041 - 1.228 (major previous supports from the past)
alternatively, a trade back down below 78.6% at 1.1784 would expose for potential targets of 1.1685 or even 1.1662.
buying dips would be a good strategy to apply to trading this market, however the swaps would be a pain in the ass in the long run due to ECB's low interest rate issue.
RSI indicates bullish bias , and severely overbought on the 4h chart.
bullish trend continuation and completed bullflag on the daily with a breakout retest done on the 15 mins chart.
potential retracement back down to demand zone 1.1784 - 1.185 for further upside.
potential targets on the upside at 1.2041 - 1.228 (major previous supports from the past)
alternatively, a trade back down below 78.6% at 1.1784 would expose for potential targets of 1.1685 or even 1.1662.
buying dips would be a good strategy to apply to trading this market, however the swaps would be a pain in the ass in the long run due to ECB's low interest rate issue.
Note
pardon me guys , the correct time frame for this chart should be 4h but i set it to daily accidentely.
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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.