EURUSD
overall in a downtrend since 6th Jan 2021, in the weekly chart you can see that
EURUSD
has already formed the left shoulder and head, it might be forming the right shoulder. 1.16200 is a strong psychological support level for me, it was resistance in October 2018, and now it is acting as a strong support level since September 2020. The price might come back to the Support Zone of 1.16300 - 1.16030.
Overall, I’m looking only for short opportunities in this pair.
Considering the lower timeframes (1HR & 4Hr), I’m waiting until the price breaks the 1.17990 - 1.18050 zone and retest the area of 1.18340 - 1.18450, after getting a rejection confirmation I’m targeting the 1.16300 - 1.16030 support zone in the long run, in the short term my target level will be somewhere around 1.7100
Need to re-evaluate the analysis after the market opens on Monday.
Nothing is 100% accurate, only possibilities.
Please criticize and share your ideas.
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