In my last trading analysis I walked you through AUDUSD.
I was expecting the pair to continue its climb and jump off the nearest major demand zone.
Price has already started a bullish move and slowly is building momentum.
Everything still looks bullish and I am not seeing a reason for a reversal (unless an unexpected event hits the wires).
It looks like price might continue its climb to 0.7300 unobstructed.
From there onwards, it really depends on what price action tells us.
If we see a rejection candle, the bulls might start pulling out of their long positions.
Alternatively, we might see a bullish breakout and a continuation of the uptrend.
EURUSD Trading Analysis 16.02.2022
Today, I am looking at EURUSD.
The pair is in-between a demand and supply zone.
Price action looks more bullish than bearish, but still the signs are not very reaffirming.
There is a bullish engulfing pattern on the daily.
I would ideally like to see the price going back to 1.1300.
Then, I would be looking for a bullish confirmation, which could attract a lot of new buyers.
On the other hand, we might see a reversal and a continuation of the bearish trend.
So far, it is still early to say, so I will continue monitoring for the above-mentioned scenarios.
Hope that makes sense to you.
But if you have any questions, you can always reach out to me on: firstname.lastname@example.org
Did you check out my recent article on The New Silver Bull Cycle?
If you want to learn more about price action trading, here is an article I wrote on the 8 Best Price Action Patterns.
If you are new or experienced, you will greatly benefit from it, no doubt about it 🙂