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EURUSD: Bulls are Back!


Weekly Time Frame: Starting on the weekly, we can see price testing 1.08000 weekly psychological support. Notice above how we had a strong rejection candle followed by an engulfing candlestick.

 

Daily Time Frame: Scaling down to the daily we can see price creating a triple bottom in confluence with a daily rejection and engulfing candlestick which managed to engulf the previous daily closure.

 

4Hr Time Frame: Scaling down we can see price ranging in between our weekly and daily zones. If price manages to sustain above 1.08000, then look to buy this up to 1.1000 daily psychological. However, if price violates and breaks below 1.08000 look to sell this down to our next zone 1.06750 key daily zone. Due to uncertainty of market fluidity, risk management is highly recommended.

 

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