🛑🔄 "Strategic Analysis: EURUSD Forex Pair Exploration" 📉💡
🕵️♂️ Let's analyze the EURUSD forex pair together.
💹 In higher time frames, such as the weekly, the EURUSD pair has been experiencing gentle fluctuations and oscillations within long-term boxes.
🕓 However, in the 4-hour time frame, after reaching the resistance at 1.09511, the pair started a downward trend, indicating the presence of sellers in the market.
🔄 Moreover, in this direction, we have a Fibonacci retracement where we corrected to the 0.382 wave and even faked out this resistance level. Based on the experience that when we correct up to 38% of a corrective wave and start the trend again from that space, the probability of the trend continuing is higher, and we may even lose the Fibonacci 0 level.
🛑 For a short position, even after the closure of this 4-hour candle due to the presence of sellers and the power of red candles, we can open a short position. However, our main entry point will be the loss of support at 1.06158, where our main short position will be in this space. Also, the loss of this short-term support at 1.06829, along with our fake breakout strategy, will confirm the decline.
🕯️ A short and concise point about this strategy is that we have broken a resistance or support, and the candle has closed above or below that space. But in the next candle, we have a movement contrary to its direction. After the occurrence of this strategy, we can go to a lower time frame, and the first trigger point for us will be the loss of that position.
↗️ For a long position, we are currently waiting patiently for a return to the resistance at 1.07336 and a retest of this range. Then, after losing it, we can open our position again. Since we are in a range in higher time frames, we will receive confirmation of the trend change sooner and will open our long position. But currently, a short position seems more logical than long.
📊 For this position, we can also have confirmation from the DXY, and if the 106.382 resistance is lost, we will keep our short position for a longer period and accompany the potential new trend.
💪 We will consider the upcoming supports at 1.06158, 1.05286, and the resistances at 1.07336, 1.08079, 1.08691 on our way forward.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
We will consider the upcoming supports at 1.06158, 1.05286, and the resistances at 1.07336, 1.08079, 1.08691 on our way forward. 📈💪📉
💹 In higher time frames, such as the weekly, the EURUSD pair has been experiencing gentle fluctuations and oscillations within long-term boxes.
🕓 However, in the 4-hour time frame, after reaching the resistance at 1.09511, the pair started a downward trend, indicating the presence of sellers in the market.
🔄 Moreover, in this direction, we have a Fibonacci retracement where we corrected to the 0.382 wave and even faked out this resistance level. Based on the experience that when we correct up to 38% of a corrective wave and start the trend again from that space, the probability of the trend continuing is higher, and we may even lose the Fibonacci 0 level.
🛑 For a short position, even after the closure of this 4-hour candle due to the presence of sellers and the power of red candles, we can open a short position. However, our main entry point will be the loss of support at 1.06158, where our main short position will be in this space. Also, the loss of this short-term support at 1.06829, along with our fake breakout strategy, will confirm the decline.
🕯️ A short and concise point about this strategy is that we have broken a resistance or support, and the candle has closed above or below that space. But in the next candle, we have a movement contrary to its direction. After the occurrence of this strategy, we can go to a lower time frame, and the first trigger point for us will be the loss of that position.
↗️ For a long position, we are currently waiting patiently for a return to the resistance at 1.07336 and a retest of this range. Then, after losing it, we can open our position again. Since we are in a range in higher time frames, we will receive confirmation of the trend change sooner and will open our long position. But currently, a short position seems more logical than long.
📊 For this position, we can also have confirmation from the DXY, and if the 106.382 resistance is lost, we will keep our short position for a longer period and accompany the potential new trend.
💪 We will consider the upcoming supports at 1.06158, 1.05286, and the resistances at 1.07336, 1.08079, 1.08691 on our way forward.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
We will consider the upcoming supports at 1.06158, 1.05286, and the resistances at 1.07336, 1.08079, 1.08691 on our way forward. 📈💪📉
