Two scenarios for rise on EURUSD

٣ أغسطس ٢٠٢١

What we had yesterday was price holding without making a higher high or a lower low.
Today we are looking at two possible scenarios that could take EURUSD higher.

First case scenario is that we see price going up to 1,1940 straight away.
If we want to get involved in this kind of setup then we will be waiting for a confirmation that the move has started.
This could be a breakout of the trendline or a breakout of previous high 1,1897!

The second case scenario is price testing the support one more time and then going to the upside.
What we will be looking for is a reversal candlestick formation signal.
If we get one then we could expect price reaching 1,1940 again.

Do you have any trades right now, and which setup is more suitable for you?

٤ أغسطس ٢٠٢١

ملاحظة

When should we buy EURUSD?

If you have an entry, then you're waiting for price to reach 1,1950.

If you don't yet have a position, then you could be watching out for price action around the London open. There is a chance that we could see another push down to 1,1840 before price actually goes to our target. This will be an even better entry opportunity. This way we will actually have a better risk to reward ratio.

That's why we will be looking for price to go down to our support zone and possibly give us a reversal candlestick formation.

*We won't be opening positions if price makes a downside impulse and it closes below the zone.