EUR/USD (1h chart): Bullish/Bearish???
I'm going bullish and here's why:
Price formed a fakeout on the 1h hour as it broke out with 3 candlesticks and then formed a bullish reversal candlestick indicating that the bulls are still present.
Price just formed a bullish engulfing candle at a strong demand zone indicated by the pink arrow.
Price touched the trendline for the third time indicating a buy opportunity.
NB: A fundamental announcement took place which might cause some downward pressure for stop loss hunts before the bulls can come in fully!!!
Risk:218.1 pips
Reward:20 pips
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DR.Swing_Forex
Price formed a fakeout on the 1h hour as it broke out with 3 candlesticks and then formed a bullish reversal candlestick indicating that the bulls are still present.
Price just formed a bullish engulfing candle at a strong demand zone indicated by the pink arrow.
Price touched the trendline for the third time indicating a buy opportunity.
NB: A fundamental announcement took place which might cause some downward pressure for stop loss hunts before the bulls can come in fully!!!
Risk:218.1 pips
Reward:20 pips
Please share your thoughts on this idea and like if you agree with the idea.
Please follow for more quality ideas!!!
DR.Swing_Forex
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