EURUSD Trading Analysis

 

@colibritrader

 

Dear traders,

It has been a while since I posted an article on trading analysis.

Last two weeks I have been travelling and as many of you must have noticed already, I have been visiting some less known corners of Europe.

I have found how humble people in Bulgaria are and how beautiful the country is. Who would have thought that?

It has been one of the best holidays I have ever had and also one of the most affordable places on Earth.

I have the feeling that for some reason this part of Europe has been neglected for long enough. With the second oldest city in Europe, Plovdiv is a must see for the humble traveller.

To top it all up, it has also been on the list of many travel magazines as a place to visit before it becomes very touristy.

But before this article turns into a travelling guide, I will continue with the original content I was supposed to write and maybe at some later stage I might share with you more details around my travels and world experiences 🙂

EURUSD Trading Analysis

 

The trading analysis from last time was regarding EURUSD, too. It went up over 100 pips before retracing back back.

Today, I am looking at EURUSD as a new candlestick pattern has been formed. There is an inside day that formed on Friday.

Beware: You should be extra careful with this pair, since it is locked in-between a support and resistance area (1.2150-1.2550).

Those 400 pips might take longer to be broken. Therefore, you should be extra careful when planning to trade EURUSD before we see a breakout of any of those two levels.

I will be looking for the daily open to see if the lower timeframes are showing a confirmation of the long scenario.

On the other side, if price falls below 1.2300, I will be looking for a further decline down to the 1.2150 level.

One way or another, the lower timeframes might give us a confirmation once the market reopens.

Until then, I will patiently wait and try not to predict, but read the market.

Happy Sunday,

Colibri Trader

 

p.s.

Check out my recent article on How to become a professional trader

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