Dear traders,

Last time I wrote abut EURUSD, was before EURUSD dropped from about 1.1000 to around 1.0800.

It was a good analysis based on what happened after I wrote about it, but it all depends on the execution.

It does not matter whether you are right or wrong until you:

  1. Execute it
  2. The way you execute it

EURUSD Trading Analysis

Today, I am looking at EURUSD again.

It looks that the daily chart is exhibiting some signs of bullishness.

eurusd trading analysis

The daily EURUSD chart has bounced off a minor demand zone as shown in the screenshot above.

There is also a bullish engulfing with a rejecting connotation on the daily chart.

There are two possibilities ahead of us:

  1. The price finds solid support and continues to rise higher
  2. The price wants to re-test the major demand zone and falls down before rising higher

The first potential target could be the level of 1.1000.

Net target is the level of 1.1100.

A few other instruments I am closely watching are:

eurusd trading analysis
GBPUSD Daily chart with an inside day candlestick pattern

and also

eurusd trading analysis
DAX Daily chart with a pin bar candlestick pattern

Happy Sunday,

Colibri Trader

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