EURUSD Trading Analysis

@Colibritrader

 

Dear traders,

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

In my last piece, I went through the AUDJPY pair. Since I shared with you my point of view, this pair has gone up about 100 pips.

Price action has been quite slow, but certainly more bullish than bearish.

It seems like there is a small bearish rejection from the daily chart. I do not intend to add more to my existing position.

I will check the price action and decide if I want to close my trade or let it run to the next resistance level.

EURUSD Trading Analysis

I have been looking at EURUSD since when it reached 1.3000. As a psychological barrier it really helped price bounce back and recover some of the losses.

Currently, there is a bearish rejection bar on the daily chart. Price is staying just below the highs of 1.8000.

Although a bullish setup, this bearish rejection candle is not occurring at the best place on the chart.

Still, this is a pattern that would fit the more aggressive of traders. I will be looking for a confirmation from the 4H chart.

Ideally, price should come back down to 1.1650 and form a bullish candlestick pattern.

If that does not occur, I will not pursue this opportunity.

Happy Trading,

Colibri Trader

P.S.

Have you check out my recent article on MOMENTUM?

 

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