EurUsd -> Make It Or Break It

١٦ مايو ٢٠٢٣

Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .

On the weekly timeframe you can see that EurUsd is currently retesting a quite obvious previous weekly support/resistance area which is now turned support at the $1.087 area.
You can also see that weekly moving averages are bullish, EurUsd is also still creating bullish market structure and also retesting the lower support trendline of a rising channel, so I definitely do expect a short term rally towards the upside from here.

On the daily timeframe you can see that we are also currently retesting previous daily support from which we could definitely see some rejection towards the upside, we do NOT have bullish confirmation in my opinion yet, so I am now just waiting for a good entry point and then I do expect a retest of the next structure level at the $1.096 level.

Thank you for watching and I will see you tomorrow!

You can also check out my previous analysis of this asset: