EURUSD - Top-Down Analysis!

10 באפר׳ 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

DAILY: Left Chart
As per my last analysis, EURUSD is approaching a strong support zone in green and the lower orange trendline so we will be looking for buy setups.

H1: Right Chart
EURUSD is forming a trendline in red but it is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)

Meanwhile, until the buy is activated, EURUSD can still trade lower inside the horizontal green support.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich