Hey traders,
Here is my analysis for the EURUSD on the previous week and possible scenarios for the upcoming week.
Last week was a busy week with the FOMC interest rate decision as well as NFP on Friday providing liquidity and volatility to the markets.
From a very fundamental S/R perspective I have labeled 4 areas of concern on the charts.
As you can see price is currently at my S/R zone #3. On Thursday price formed a doji candle representing indecision, before price moved up with a bullish close on Friday.
If price can break through S/R #3 I will have a long bias in line with the current mini uptrend EURUSD is currently in.
If price rejects strongly from S/R #3 we will have the long term trend on our side which is down.
Price is currently below the 200 Day Moving Average but fast approaching, I will be looking at the price movements there as well.
My last analysis on EURUSD represented a high risk 1:3 risk to reward ratio which was hit. Excited to see how this week plays out.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: www.instagram.com/jaylen.forex/
Website: www.forexshinobi.com
Tiktok: @forexshinobi
ForexShinobi
Here is my analysis for the EURUSD on the previous week and possible scenarios for the upcoming week.
Last week was a busy week with the FOMC interest rate decision as well as NFP on Friday providing liquidity and volatility to the markets.
From a very fundamental S/R perspective I have labeled 4 areas of concern on the charts.
As you can see price is currently at my S/R zone #3. On Thursday price formed a doji candle representing indecision, before price moved up with a bullish close on Friday.
If price can break through S/R #3 I will have a long bias in line with the current mini uptrend EURUSD is currently in.
If price rejects strongly from S/R #3 we will have the long term trend on our side which is down.
Price is currently below the 200 Day Moving Average but fast approaching, I will be looking at the price movements there as well.
My last analysis on EURUSD represented a high risk 1:3 risk to reward ratio which was hit. Excited to see how this week plays out.
Daily trade analysis and ideas:
Telegram: t.me/Forexdojo
Facebook: www.facebook.com/FXShinobi
Twitter: forex_dojo
Instagram: www.instagram.com/jaylen.forex/
Website: www.forexshinobi.com
Tiktok: @forexshinobi
ForexShinobi
