EURUSD reach above 1.15000

5 gen 2019

The EURUSD is in an upward channel at the moment. This channel (black trend lines) took shape in the month of November and the price is still in this channel zone. As you can see, several zones have been drawn. These will be described below.

- Target zone (green): This is the zone we want to reach to maximize our profits. This is a 4H timeframe zone.
- Cur. resistance zone (red): This is the zone that has not yet been broken with conviction. This is an important daily timeframe zone!
- Cur. support zone (orange): This is the zone that has lifted the price several times. That is why this is an important zone for our analysis.
This is a 4H timeframe zone.
- Major support zone (green): This is a zone that has not been exceeded since November. This is also a 4H timeframe zone.

Expectations:
I expect the EUR to rise against the USD currency.
The price has already broken trendline 2 several times. This can be seen in the blue circles. Despite the breakthroughs, the price has recovered several times by returning to the channel again. This indicates to me that we are dealing with a market where the bulls are in charge.

In addition, I believe the price will rise to the Current resistance zone. There it will make a retracement and make a new, stronger upward attempt.

I'm thinking here of a breakthrough of the resistance zone. The pullback is possible at the breakthrough. When the breakthrough is confirmed, the price will move to the target zone.

9 gen 2019

Trade chiuso: obiettivo raggiunto

We reached the target zone with a total profit of +150 pips!! Congrats to the people who took the trade.