Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that EurUsd just recently perfectly retested and already rejected a quite obvious previous weekly support zone which was turned resistance exactly at the 1.087 area.
You can also see that we are about to retest the zone once again, generally speaking the more often we retest a zone the higher the likelyhood that we will eventually break it so I am now just waiting for a break of the resistance and a retest and then I do expect more continaution towards the upside.
On the daily timeframe you can also see that we are retesting previous daily resistance so I am now just waiting for a break and retest of the zone and some bullish confirmation to then capitalize on the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that EurUsd just recently perfectly retested and already rejected a quite obvious previous weekly support zone which was turned resistance exactly at the 1.087 area.
You can also see that we are about to retest the zone once again, generally speaking the more often we retest a zone the higher the likelyhood that we will eventually break it so I am now just waiting for a break of the resistance and a retest and then I do expect more continaution towards the upside.
On the daily timeframe you can also see that we are retesting previous daily resistance so I am now just waiting for a break and retest of the zone and some bullish confirmation to then capitalize on the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!