looking for buy positions on EURUSD
#Technical_Analysis
#EURUSD-1h
I’ve marked two zones on the chart, both derived from the daily timeframe. The expectation was for the price to react to the lower support zone and move towards the upper resistance zone.
If we look at the daily EURUSD chart, we can see that yesterday the price reacted very well to this zone. Yesterday’s candle formed a long wick and failed to break the zone with its body. This reaction has turned yesterday’s low into a very significant support zone for us.
Therefore, if the price changes direction on the 4-hour timeframe, I will look for buying opportunities in the lower timeframes. My preference is for this directional change to occur below the 1.027 level.
#FarXpert
#EURUSD-1h
I’ve marked two zones on the chart, both derived from the daily timeframe. The expectation was for the price to react to the lower support zone and move towards the upper resistance zone.
If we look at the daily EURUSD chart, we can see that yesterday the price reacted very well to this zone. Yesterday’s candle formed a long wick and failed to break the zone with its body. This reaction has turned yesterday’s low into a very significant support zone for us.
Therefore, if the price changes direction on the 4-hour timeframe, I will look for buying opportunities in the lower timeframes. My preference is for this directional change to occur below the 1.027 level.
#FarXpert
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