EURUSD ANALYSIS 5TH JAN,23

4 Oca 2023

As we all have seen a major pull back in EURUSD hence majority of the traders are very much skeptical on opening any positions on this intrument in the coming days. As they think the momental direction is not very much strong. But if we look on the chart very carefully we can hopefully presume the direction. Below are some of the major levels what you can see and observe :_

3rd Jan -

Started a Bearish Moment @ 1.06538

Retraced Back to 1.05976 ( In this scenerio the bulls tried to trap us )

Again after that it went on a hard bearish fall and marked a Day Low at - 1.05191

We can clearly observe that the bulls were actually waiting for the price to went down to its lowest possible so that then can take maximum advantage of it and that is what happend.

4th Jan

It started off with a bulling momentum till - 1.05428

Retraced Back to - 1.05408 then it went to a good bullish trend till 1.06353

5th Jan -

If we see a min of 300 Point drop then we can have 3 possible targets in a bullish trend :-

TP 1 - 1.06500 Level
TP 2 - 1.06600 Level
TP 3 - 1.06700 Level