Euro / Dollar AméricainMis à jour EURUSD Trade Idea
In yesterday's analysis, I expected EU to have some rollover towards the downside as price was showing multiple rejections at 1.2176 resistance level, which was exactly what the market performed. Recently EU has a downwards violation of the ascending channel which indicates potential short-term bearish sentiment. As EU is currently having some corrective behaviour (exhaustion pattern/ flag), I will be looking for short-term selling opportunities, there are two scenarios that I am looking at
1. A breach of the flag pattern, with 1.2060 support zone as the initial target. Be aware that we could see price re-visit the 1.2176 resistance level before further bearish continuation (Bearish)
2. If we see some bullish momentum pushing price above the 1.2176 resistance level, that could expose 1.2215 as the next resistance zone (Bullish)
However, do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
1. A breach of the flag pattern, with 1.2060 support zone as the initial target. Be aware that we could see price re-visit the 1.2176 resistance level before further bearish continuation (Bearish)
2. If we see some bullish momentum pushing price above the 1.2176 resistance level, that could expose 1.2215 as the next resistance zone (Bullish)
However, do not forget the overall trend on the higher timeframe remains bullish.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
Note
Previous analysis
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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.