The EUR/USD on the 4-hour chart shows a clear retracement to the 0.75 Fibonacci level, which aligns with the 1.08466 price point, indicating potential support.
Entry & Exit:
The planned entry point leverages the Fibonacci retracement and recent price action, suggesting a rebound is on the horizon. The exit strategy incorporates the previous swing high near 1.09812, providing an attractive risk-reward ratio.
Trade Rational:
The pair has shown resilience around the 1.08017 level, forming a base for our anticipated bullish push. Combined with the daily chart's structure, where a supportive trendline and higher lows indicate an uptrend continuation, the 4-hour chart adds precision to this bias.
Remember to manage risk accordingly and keep an eye out for any fundamental shifts that could impact volatility.
Entry & Exit:
The planned entry point leverages the Fibonacci retracement and recent price action, suggesting a rebound is on the horizon. The exit strategy incorporates the previous swing high near 1.09812, providing an attractive risk-reward ratio.
Trade Rational:
The pair has shown resilience around the 1.08017 level, forming a base for our anticipated bullish push. Combined with the daily chart's structure, where a supportive trendline and higher lows indicate an uptrend continuation, the 4-hour chart adds precision to this bias.
Remember to manage risk accordingly and keep an eye out for any fundamental shifts that could impact volatility.