Based on the 4-hour short-term chart of the
EURUSD
currency pair, the price has been trending upwards from the 1.060 support zone. The price is currently trading above the EMA 60 and moving towards a supply zone.
🔹The current outlook is positive, with a potential for further upside movement towards the target zone of 1.077/1.080.
⏭An alternative scenario involves the price pulling back from the supply zone after a minor correction and then resuming its upward trajectory toward the target zones within the liquidity gap area.
Key Support and Resistance Levels:
Support: 1.070/1.068
Resistance: 1.077/1.080
🚨It is important to note that today is a significant news day, which could lead to increased volatility in the market.
This is not financial advice. Always do your research before making any investment decisions.
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
EURUSD
currency pair, the price has been trending upwards from the 1.060 support zone. The price is currently trading above the EMA 60 and moving towards a supply zone. 🔹The current outlook is positive, with a potential for further upside movement towards the target zone of 1.077/1.080.
⏭An alternative scenario involves the price pulling back from the supply zone after a minor correction and then resuming its upward trajectory toward the target zones within the liquidity gap area.
Key Support and Resistance Levels:
Support: 1.070/1.068
Resistance: 1.077/1.080
🚨It is important to note that today is a significant news day, which could lead to increased volatility in the market.
This is not financial advice. Always do your research before making any investment decisions.
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌
if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
Comment:
😎The price reacted to support at 1.068✔️ and bounced back with positive momentum,🔼 gaining nearly 40 pips.😊🤑
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The price has been rejected 40 pips from the supply zone according to the scenario. It remains to be seen how it will react to the support zones. Confirmation is needed for the positive trend to continue.