EUR/USD: Bullish Reversal Opportunity at Key Support Zone
The EUR/USD chart is showing potential for a bullish reversal with two Gartley patterns forming. The most recent one has nearly completed, and the price is hovering around the D point at 1.094, a significant support zone. Additionally, a long-term uptrend line is providing extra support at this level. With the TDIGMA oscillator indicating overbought conditions and weakness in price momentum, a pullback or correction is likely, offering a solid buying opportunity.
Medium-Term Buy Strategy at Key Support
The price is approaching the D point of the completed Gartley pattern (in confirmed), typically a strong support level. Additionally, it's trading near a long-term support. These combined technical factors suggest a high-probability bullish reversal. The TDIGMA oscillator shows signs of weakness, further supporting the case for a bounce off the current support.
Entry: Buy near the D point, around 1.0940, after confirming reversal signals in lower timeframes (e.g., bullish candlestick patterns or momentum shifts).
Target 1: 1.1090 (next resistance zone and Fibonacci retracement level).
Target 2: 1.1190 (significant resistance and previous swing high).
Target 3: 1.1260 (long-term resistance).
Stop Loss: 1.0860 (below key support to manage risk).
Risk-Reward Ratio:
For Target 1: ~1:2
For Target 2: ~1:3
For Target 3: ~1:4, depending on entry and stop placement.
The confluence of the completed Gartley pattern, long-term support trendline, and overbought conditions on the TDIGMA oscillator make this a high-probability setup for a bullish reversal. However, it's crucial to monitor price action closely and wait for confirmation signals on lower timeframes before taking the trade.
Medium-Term Buy Strategy at Key Support
The price is approaching the D point of the completed Gartley pattern (in confirmed), typically a strong support level. Additionally, it's trading near a long-term support. These combined technical factors suggest a high-probability bullish reversal. The TDIGMA oscillator shows signs of weakness, further supporting the case for a bounce off the current support.
Entry: Buy near the D point, around 1.0940, after confirming reversal signals in lower timeframes (e.g., bullish candlestick patterns or momentum shifts).
Target 1: 1.1090 (next resistance zone and Fibonacci retracement level).
Target 2: 1.1190 (significant resistance and previous swing high).
Target 3: 1.1260 (long-term resistance).
Stop Loss: 1.0860 (below key support to manage risk).
Risk-Reward Ratio:
For Target 1: ~1:2
For Target 2: ~1:3
For Target 3: ~1:4, depending on entry and stop placement.
The confluence of the completed Gartley pattern, long-term support trendline, and overbought conditions on the TDIGMA oscillator make this a high-probability setup for a bullish reversal. However, it's crucial to monitor price action closely and wait for confirmation signals on lower timeframes before taking the trade.
Publications connexes
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.