When it comes to the technical analysis of EURUSD, current market structure clearly shows the signs of uptrend. On the chart I have marked previous resistances and used them to draw a trend line. Now that line is acting as a support. We have already seen strong rejections from that area and the price likely to break R1 trend line. If it does, we are going to see a good impulse to the upside and it reaches my first target T1. There is a good chance we might see a strong rejection from T1 area. If it does better you close the long position and book the profit. Just in case the price manages to break T1, you may keep the long position till T1.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
If you find this technical analysis useful, please like & share our ideas with the community.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.