EURUSD ANALYSIS FOR 03/14 - 03/19

14 mar 2021

MY ANALYSIS: EURUSD

SELL PRICE: 1.1960
STOP LOSS: 1.1990
TAKE PROFIT: 1.1700

WEEKLY CHART:
ITS IN A CORRECTIVE STRUCTURE. SO IT WOULD BE SELL HIGH AND BUY LOW. AND ITS NEAR THE HIGH SO ITS SELL.
BECAUSE IT’S A WEEKLY CHART THERE WELL BE SO MANY BUMPS THE WAY DOWN.
I ONLY HAVE $350 ON MY TRADING ACCOUNT AND I DON’T LIKE TO TRADE LESS THAN 1. SO IF IT GOES MORE THAN 40 PIPS MY ACCOUNT WILLBE GONE WHICH I REALLY DON’T WANT.
SO LETS CHECK DAILY CHART TO FIND OUT HWERE CAN I ENTER THE TRADE WITHOUT DESTROYING MY ACCOUNT.

DAILY CHART:
ITS DOWNTREND. GOING DOWN SLOWLY.
LAST FRIDAY IT TOUCHED 5 WEEK OLD SUPPORT. AND ITS GOING DOWN FOR A DAY EVEN THO AT THE END IT GOT SOME RESISTANCE.
WHICH IS 40+ PIPS AND REVERSAL CLOSED 40 PIPS DOWN.
SO IMA CHECK 4HR CHART TO SAVE MY ASS.

4HR CAHRT:
IM THINKING 1.1990 AS MY RESISTANCE
SO TO SAVE MY ASS I HAVE TO SELL AT 1.1960 OR MORE.
AND IF I KEEP MY TAKE PROFIT IT WILL GIVE ME GOOD 8.83 RISK/EWARD RATIO.

YES! IT WILL BE A BUMPY ROAD. BUT HOW ABOUT MAKING $2600 BY RISKING $300 ?

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HERE’S HOW SOME OTHER PEOPLE THINK ABOUT EURUSD:

EURUSD: Price Action & Trading Opportunity for Next Week

EURUSD is ahead of a strong daily/4h resistance cluster. - MATCH MINE: IM THINKING 1.1990 AS MY RESISTANCE

We already saw a positive bearish reaction from that this week
and it looks like the market is preparing for one more test of that.
To short the market wisely,

wait for a bearish breakout of a support line of a bullish flag pattern on 4H.
It will be a nice -confirmation.

Remember, in case if the price goes above the red zone, setup will be invalid. - WHAT COULD GO WRONG.
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Now it has touched the support line and it is preparing for a good uptrend movement.
We should be open a long position as we can see on the chart when the price has touched the Support Line
The price is forming a good pattern for a nice uptrend movement.
Traders Make your analysis before trading. - IM HAVING PROBLEM UNDERSTANDING THIS.
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EUR-USD broke a major bullish trend-line - ON WEEKLY CHART ITS NEAR THE HIGH. BROKE AND WENT DOWN.
And is now trading in a falling channel - BROKE AND KINDA GOING DOWN.
While also being stuck below horizontal resistance area - NOT SURE BUT THINKING MAYBE ITS ON 4 HOURS OR DAILY CHART.
All that makes me bearish biased on EUR-USD right now - SAME HERE.
And I am expecting the pair to fall - ME TOO
After some horizontal correction - BUMPY.
Or after it retests the falling channel resistance
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Euro is ready to go lower due to the fact that price is testing resistance zone again and probably can bounce one more time, price can back to downtrend and fall to support level . -KINDA EVERYTHING IM TRYING TO SAY.
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IM JUST A NEWBIE SO DON'T TAKE MY ANALYSIS TO TRADE. PLEASE LET ME KNOW IF IM WRONG IT WOULD BE REALLY HELPFUL.
THANK YOU