EURUSD - Daily chart
EURUSD reached 1.3500 level, than it bounced up rapidly forming large bullish candle. This powerful sign has brought hope for further gains in upcoming days. In perspective - reaching 1.3810 level is very likely.
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| EURUSD - Daily chart |
EURUSD - H4 chart
Looking at the H4 chart, Eur/Usd broke above consolidation area of 1.3515-1.3585. It continued well-paced movement until encountered a substantial resistance at 1.3730. This level pushed down the rate around 1.3676, where the week was closed. This suggests that bulls may be resting for a while, so falling to 1.3650 is possible scenario. Then I expect bulls mood to be revealed again. So, the plan for now is to wait until correction is over (~1.3650 I suppose) and then open long position with 1.3695 and 1.3730 as targets.
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| EURUSD - H4 chart |
Trade recommendation
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Buy around 1.3650 area
Target levels: T1: 1.3695 T2: 1.3730
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Current support levels
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Current resistance levels
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