EURUSD forex trading strategies - Price action for this new week? - sherrysulty1974

In this article, we will discuss the major EURUSD price action for this new week and what major levels to observe going forward. Small clip fles Forex trading strategiesmust unbroken within the daily channel. Let us discuss the details infra;

MULTI-Fourth dimension FRAME EURUSD PRICE ACTION ANALYSIS

Monthly EURUSD graph.

When you look at the monthly graph below, the average swing bowel movement on this pair is almost complete. The lime green lines indicate the fair swings.

Price is directly onto major underground zone but no major signs of reversal just yet.

As wel, if you clearly look at EURUSD price process happening this graph, the size of the previous congestion circled green, is almost same as unusual old congestions circled blue. In former wards, we still have room for more upside. This is likely because price makes a larger move than average after such congestions. In this case, the immediate resistance zone is the green trendline marked T

Therefore, the levels to ascertain critically on the time unit chart are; Trendline T and S.

Next, let's look at the daily time figure to see what exactly is happening.

Each day EURUSD chart

As mentioned previously, the price is in a stellar monthly resistance zone. This means that a over-crowding is likely to occur. These congestions are primarily clear on the lower time frames, for representativ the day-after-day time frame in front a untried swing.

Let us now learn a expect at the daily graph below and find out what's happening in the price natural action

From the graph in a higher place, we see EURUSD price action as a channel congestion held aside trendlines A and B. The green trendline is the unit of time S trendline.

A break and encompassing of candle down the stairs A may land price into prompt supporting round 1.20915 well-marked with a black line.

Spell the Break up and close of taper in a higher place electric resistance trendline B, sooner weekly candle close may star Mary Leontyne Pric into the monthly T trendline ohmic resistanc target.

Since terms along the time unit time frame is in a channel congestion, trading on the small timeframes like 4-Hour and Hourly must be kept within the channel. This substance, you should not Seth your targets beyond trendline A and B until we have a daily/ weekly candle break beyond the trendlines

Let US now take a look and hash out the EURUSD price action on the hourly chart.

Hourly EURUSD graph

The EURUSD price action now on the time unit timeframe shows a small price congestion between the Red trendlines asterisked r & h. Take a take the chart below.

Circumferent above r, may jumper lead price into unmediated support marked with blue horizontal rail line Y around 1.23719 resistance zone.

On the other mitt, a close below h could star price into immediate support round 1.22790 zone marked with blue devil horizontal line X.

The virtually important affair immediately is to keep the trading on the small timeframes like 4-Hour within the daily line.

However, you should not set your targets beyond trendline A and B until you get a daily/ weekly candle infract beyond the trendlines

N.B.. That channel/trendline break to the upside highlighted with pink was shared happening the twitter page here . You hind end espouse the chitter page for short condition psychoanalysis on all forex currency pairs

Source: https://www.freeforexcoach.com/expect-eurusd-price-action-week/

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