The price perfectly fulfills my last idea. The market reached the predicted level. The price made impulse move breaking through the descending channel and fixed above it. Currently, the market is testing amin resistance zone and possibly it will retest the support before continue trending. I think that the most logical place to enter is previous ressistance which is support now aka swing zone. My goal is the main resistance at 1.11200
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
Hello, I use your ideas a lot and thank you for that .As we examine the technical indicators, we can observe that the price is facing significant resistance at both the weekly R1 level at 1.109 and the 1.107 resistance area. Additionally, the daily and weekly pivot points are also located in this critical region, highlighting the importance of this level. On the fundamental side, there are various high-impact economic events that could potentially impact the EUR/USD pair's direction, such as the ECB Interest Rate Decision and the upcoming PMI data releases from several European countries.
Therefore, I propose a sell trade for the EUR/USD pair, with an entry point at 1.107, a stop loss at 1.1095, and a take profit at 1.0995.
By selling at the current resistance level, we can potentially benefit from the downward momentum if the price breaks below the critical support at 1.107. The tight stop loss above the weekly R1 level can help minimize potential losses if the trade does not go as planned. The take profit level at the weekly pivot point can offer a favorable risk-to-reward ratio for this trade.
Lingrid
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Hi traders👋, rate the EURUSD idea, what do you think about it? 🤠
FOREXN1
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@Lingrid, I believe this is a great idea. The price surged yesterday and may experience a pullback before resuming its upward trend in the long run. Additionally, we have a positive outlook for the EUR's continued growth.
pejman_zwin
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I liked your point of view on this chart. I hope for the best result.😉🌺
ehsan_alrawi
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Hi, good analysis, but news pushes the price to another phase, good luck
Therefore, I propose a sell trade for the EUR/USD pair, with an entry point at 1.107, a stop loss at 1.1095, and a take profit at 1.0995.
By selling at the current resistance level, we can potentially benefit from the downward momentum if the price breaks below the critical support at 1.107. The tight stop loss above the weekly R1 level can help minimize potential losses if the trade does not go as planned. The take profit level at the weekly pivot point can offer a favorable risk-to-reward ratio for this trade.