Hello hello, it's me again, pauloscorp. Right now I'll be showing you my short analysis on EURUSD and its potential to make you a HUGE amount of profit.
Now ever since May last year, EU has been stuck in a constant downwards trend in which it was shorted and formed a bearish channel (green lines) for a few months. Overall, from the start of June to EU's current price, it experienced a total drop of around 1100 pips. Now the support and resistance channels during this trend have been extremely solid (it goes through it in this chart but that's just because of the difference in timeframes affecting the placement of the line), but has started wavering around Nov. 21 (2021). From here it broke off and had a massive decrease in the price. After hitting a major key level though (highlighted in purple), EU experienced momentary relief as it recovered and went up 270 pips, before falling back down.
Now the most important thing to notice is the fact that this key level (again, purple box) is a MAJOR key level that was tested around June 2020, along with a large portion of 2019. Throughout these times there has been a large amount of movement, clearly defined according to the price's reaction to that specified key level.
Now reasons for why I think that this is a long (going up) is that after that irrational movement in November, in which it touched the key level, EU has clearly shown much more stagnant drops in the price, as it started forming higher highs, and lower lows, a sign of a positive trend/reversal. Now although both times it's been shut down, this was due to the short bursts from buyers, which battled against the mass support of sellers. Now that EU has clearly broken off from its bearish trend, combined with that large support garnered from the key level, more buyers will accumulate and it will naturally be able to break upwards. I mean, not counting January, this is the lowest EU's price has been ever since June 2020. With the massive potential for profit, if it turns out correctly, you can expect at least a few hundred pips.
Now ever since May last year, EU has been stuck in a constant downwards trend in which it was shorted and formed a bearish channel (green lines) for a few months. Overall, from the start of June to EU's current price, it experienced a total drop of around 1100 pips. Now the support and resistance channels during this trend have been extremely solid (it goes through it in this chart but that's just because of the difference in timeframes affecting the placement of the line), but has started wavering around Nov. 21 (2021). From here it broke off and had a massive decrease in the price. After hitting a major key level though (highlighted in purple), EU experienced momentary relief as it recovered and went up 270 pips, before falling back down.
Now the most important thing to notice is the fact that this key level (again, purple box) is a MAJOR key level that was tested around June 2020, along with a large portion of 2019. Throughout these times there has been a large amount of movement, clearly defined according to the price's reaction to that specified key level.
Now reasons for why I think that this is a long (going up) is that after that irrational movement in November, in which it touched the key level, EU has clearly shown much more stagnant drops in the price, as it started forming higher highs, and lower lows, a sign of a positive trend/reversal. Now although both times it's been shut down, this was due to the short bursts from buyers, which battled against the mass support of sellers. Now that EU has clearly broken off from its bearish trend, combined with that large support garnered from the key level, more buyers will accumulate and it will naturally be able to break upwards. I mean, not counting January, this is the lowest EU's price has been ever since June 2020. With the massive potential for profit, if it turns out correctly, you can expect at least a few hundred pips.