Buyers came in strongly from 6 weeks ago and broke the EURUSD downtrend.
Now is the time for them to rest and an opportunity has been created for the rest of the traders.
The fixed ceiling of the Fibo zone is 0.618, which this week saw a retracement of this zone, forming a V for us.
In order to continue its uptrend, this chart needs to correct when it breaks away from the downtrend channel to gain bullish strength.
Note that this chart requires time correction to go up, not location correction, so pay attention to this point and make the most of the trades that we will have in the upcoming range in the 5-minute time.
In the MACD indicator, we also see a positive hidden divergence, which is currently close to the zero zone.
If the price breaks the resistance zone before the time correction, you can think about buying, but you have to be more patient until your target is touched.
And the last point: if the price is determined from the range box and moves down, this analysis is no longer valid and is waiting for our next presentation regarding this chart.
Golden Dragon
Now is the time for them to rest and an opportunity has been created for the rest of the traders.
The fixed ceiling of the Fibo zone is 0.618, which this week saw a retracement of this zone, forming a V for us.
In order to continue its uptrend, this chart needs to correct when it breaks away from the downtrend channel to gain bullish strength.
Note that this chart requires time correction to go up, not location correction, so pay attention to this point and make the most of the trades that we will have in the upcoming range in the 5-minute time.
In the MACD indicator, we also see a positive hidden divergence, which is currently close to the zero zone.
If the price breaks the resistance zone before the time correction, you can think about buying, but you have to be more patient until your target is touched.
And the last point: if the price is determined from the range box and moves down, this analysis is no longer valid and is waiting for our next presentation regarding this chart.
Golden Dragon
Trade closed: target reached:
Excellent.
We will have a correction this week.
Do not miss shopping opportunities. (only after modification)
Opportunities pass like clouds.
Golden Dragon
We will have a correction this week.
Do not miss shopping opportunities. (only after modification)
Opportunities pass like clouds.
Golden Dragon