Hi Traders!
EURUSD has reached its 3-month low, and there is likely to be a support bounce from here, which could mean a potential double-bottom chart pattern opportunity for long entries.
Price Action 📊
There is a lack of bearish momentum to break the three-month low at 1.06352; therefore, it is very likely there is a lot of bullish demand at this area.
Looking for a bounce up from this area to target the trendline resistance area.
Fundamental Analysis 📰
The market's outlook on the EUR has been recently positive, with the ECB raising interest rates by 25 basis points to 4.00%.
Support 📉
1.06352: 3 MONTH LOW
Resistance 📈
1.07807: FIRST RESISTANCE
1.08082: SECOND RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
EURUSD has reached its 3-month low, and there is likely to be a support bounce from here, which could mean a potential double-bottom chart pattern opportunity for long entries.
Price Action 📊
There is a lack of bearish momentum to break the three-month low at 1.06352; therefore, it is very likely there is a lot of bullish demand at this area.
Looking for a bounce up from this area to target the trendline resistance area.
Fundamental Analysis 📰
The market's outlook on the EUR has been recently positive, with the ECB raising interest rates by 25 basis points to 4.00%.
Support 📉
1.06352: 3 MONTH LOW
Resistance 📈
1.07807: FIRST RESISTANCE
1.08082: SECOND RESISTANCE
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX