Hi Traders
Please see our breakdown on EURUSD.
Throughout last week we see a fairly sizable rally across the board for all EURO currency pairs.
We can clearly see we have reached a level that has acted as a major supply zone previously and we expect to see the same again.
Price is clearly still creating our base to gather enough volume to pull price lower.
There is two ways we can set our selves up for this trade.
a) We can look to get in after a confirmed break of the base and a retest of the base on lower time frames. (1hr / 15 minutes)
b) We can play it really safe and wait on the ascending trend line breaking and witnessing some further bearish momentum to confirm our bias.
Please let me know in the comments below what you think of this analysis I'd love to hear all and any feedback!!
Please have a safe and profitable week in the markets.
The Fx Chartist
Please see our breakdown on EURUSD.
Throughout last week we see a fairly sizable rally across the board for all EURO currency pairs.
We can clearly see we have reached a level that has acted as a major supply zone previously and we expect to see the same again.
Price is clearly still creating our base to gather enough volume to pull price lower.
There is two ways we can set our selves up for this trade.
a) We can look to get in after a confirmed break of the base and a retest of the base on lower time frames. (1hr / 15 minutes)
b) We can play it really safe and wait on the ascending trend line breaking and witnessing some further bearish momentum to confirm our bias.
Please let me know in the comments below what you think of this analysis I'd love to hear all and any feedback!!
Please have a safe and profitable week in the markets.
The Fx Chartist