EURUSD Potential for Bullish Momentum | 27th October 2022
October 27, 2022 11:22 amVideo
Latest News
- Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Monday June 03 2024. June 3, 2024
- Technical Analysis of Intraday Price Movement of GBP/USD Main Currency Pairs, Monday June 03 2024. June 3, 2024
- Analysis of EUR/USD pair on May 31st. EU inflation supports the euro May 31, 2024
- Analysis of GBP/USD pair on May 31st. The PCE index also works against the dollar May 31, 2024
- USD/JPY: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- Technical Analysis – US 100 stock index might lose more in short-term May 31, 2024
- EUR/USD: Simple trading tips for novice traders on May 31st (US session) May 31, 2024
- GBP/USD: trading plan for the US session on May 31st (analysis of morning deals). The pound was bought in the area of 1.2706 May 31, 2024
- EUR/USD: trading plan for the US session on May 31st (analysis of morning deals). The euro continued to grow May 31, 2024
- EUR/USD. May 31st. The economic data stopped the bears again May 31, 2024
- GBP/USD. May 31st. Bears remain weak and the pound rises alongside euro May 31, 2024
- Weekly Forex Outlook: 31/05/2024 – ECB cut might get eclipsed by BoC surprise and NFP May 31, 2024
- Cryptos consolidate as spot Ether ETF excitement fades – Crypto News May 31, 2024
- Technical Analysis – USDJPY may retest 157.70 May 31, 2024
- June forecast: Dollar index poised for growth May 31, 2024
- Week Ahead – ECB rate cut might get eclipsed by BoC surprise and NFP report May 31, 2024
- Forex forecast 05/31/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga May 31, 2024
- EUR/USD and GBP/USD: Technical analysis on May 31 May 31, 2024
- Market Comment – US and Eurozone inflation data in focus May 31, 2024
On the H4, price is moving within the short term ascending trendline and breaking the long term descending trendline, we have a bullish bias that the price may rise to the 1st resistance at 1.01971, where the previous swing high and 161.8% fibonacci extension are. Alternatively, the price may drop to the 1st support at 0.99904, which is in line with the previous swing high. If the 1st support is broken, the 2nd support is at 0.98673, where the 38.2% fibonacci retracement and overlap support sits.
Trading Recommendation
Entry: 0.99904
Reason for Entry:
Previous swing high
Take Profit: 1.01971
Reason for Take Profit:Swing high and 161.8% fibonacci extension
Stop Loss: 0.98673
Reason for Stop Loss:38.2% fibonacci retracement and overlap support
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: